Danbury, CT CBRE completed the sale of a 64,255 s/f commercial property at 4 Mountainview Terrace, which traded hands for $7.6 million. Louis Zuckerman and Patrick Colwell of CBRE represented the owner, 101 East Ridge, LLC, and also procured the buyer, who was new to the local market.
4 Mountainview Terrace is a suburban office complex that was 81% occupied at the time of the sale. The buyer plans to continue managing the building as it remains and secure new tenants for the remaining availability.
“Although the buyer was new to the Danbury office market, they quickly recognized the property’s upside opportunity and potential for achieving significantly higher occupancy,” said Zuckerman, a vice president at CBRE. “They were drawn to 4 Mountainview Terrace’s stable rent roll, quality improvements and maintenance by previous ownership and convenient location off a major thoroughfare.”
4 Mountainview Terrace features renovated common areas and bathrooms, in addition to a location off I-84, offering accessibility for commuters from various regions. Nearby businesses include Target, The Edge Fitness Club, Outback Steakhouse and Dunkin’ Donuts.