Marcus Partners has acquired 8 and 10 Wright St. office buildings as the company's first investment in its newest fund, Marcus Capital Partners Fund II.
The buildings, containing 84,000 s/f of office space, are uniquely located in Westport with views over the Saugatuck River and historic Westport Center. The immediate neighborhood is thriving with coffee shops, restaurants, bars, the Westport Arts Center, and antique shops.
"We see 8 and 10 Wright St. as being a classic situation where the existing property is substantially underutilizing its special place within a community," said David Fiore, principal in charge of Marcus Partners' Metro New York office in Norwalk.
As such, Marcus Partners plans a comprehensive renovation to 8 and 10 Wright St., investing $4 million to transform it into a best-in-class property.
Gary Gabriel led Cushman & Wakefield's acquisition efforts for Marcus Partners. The team included Tom O'Leary, David Bernhaut, and Andy Merin. Steve Baker, Adam Klimek and Tom O'Leary of Cushman & Wakefield will oversee leasing and marketing efforts at 8 and 10 Wright St. for Marcus Partners going forward.