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Posted: May 2, 2017
RHYS closes $10.25 million portfolio sale of office/retail buildings at 111 and 123 High Ridge Rd.
Stamford, CT RHYS completed the $10.25 million portfolio sale of two office/retail buildings located at 111 and 123 High Ridge Rd.
Together the two, three-story buildings offer approximately 40,000 s/f of office and retail space. The portfolio sits on just over an acre of land, with more than 150 parking spaces and was 100% leased when sold.
“The buildings are located in the heart of the Bulls Head section of Stamford with excellent street visibility,” said RHYS executive vice president and principal Christian Bangert who represented the buyer, A & E High Ridge LLC, a local Westchester County based investor.
“The previous owner controlled these buildings for many decades and this sale allows the new ownership group the opportunity to reinvigorate the buildings and take advantage of the tremendous location.” “The Bulls Head section of Stamford is arguably one of the best retail locations in the city with consistent tenant demand,” said Bangert.
RHYS has completed numerous sale transactions in Stamford recently and according to its President & CEO Cory Gubner, this trend should continue for the foreseeable future. “Stamford continues to be an attractive investment environment for both institutional and private buyers. The demographics, the capable workforce and the overall desirability of a live, work & play city continues to attract investors, retailers & companies to this great city.”
Karen Dome and Robert Haile of Coldwell Banker Commercial represented the seller, High Ridge Plaza, LLC.
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