According to Vidal/Wettenstein, the property located at 1365-1391 Post Road East, has been sold to an investment consortium from New York and Darien. Anthropologie and Balducci's are the main tenants occupying the majority of this landmark property. The two buildings total approximately 50,000 s/f and are situated on 3.47 acres. This site has over 600 feet of frontage on Post Road East (US-1) which is a major commercial artery.
According to David Fugitt, SIOR, a partner with Vidal/Wettenstein, "This is an outstanding investment from a business standpoint and also an irreplaceable piece of real estate." The sale price was $18.25 million.
The original business located in the Balducci portion of the property was a catering hall and the International Deli. After the catering business closed, Hay Day Market took occupancy and eventually was purchased by Balducci's company. The Anthropologie building housed one of the first video arcades in the country. The building also housed an ice cream parlor and billiard hall.
Wettenstein, and Fugitt, partners at Vidal/Wettenstein Commercial Real Estate, were the sole agents involved in this transaction. Counsel for the seller was Jamie Gerard of Nevas, Capasse & Gerard of Westport. Counsel for the purchaser was Howard Komisar of Berkowitz, Trager & Trager, also of Westport.
Founded in 1968, Vidal/Wettenstein has been active in the Fairfield County and New Haven County markets for over 40 years.