Greenwich Office Park
Fareri Associates LP, a Greenwich-based real estate investment and construction company, has bought Greenwich Office Park for $130 million. The transaction is the largest office sale in Greenwich in the last five years, according to CBRE Group Inc., which brokered the deal.
The 380,561-square-foot, Class A Greenwich Office Park at 51 Weaver St. is 83 percent leased and about one mile from the Greenwich train station. CBRE’s Institutional Properties, working in collaboration with David Block, represented the seller Clarion Partners. The team was also responsible for procuring Fareri Associates as the buyer.
“The tightening Greenwich market, where there has been no significant new office construction in nearly three decades, along with the extensive capital improvements program recently completed by the seller bodes well for Fareri Associates’ investment at Greenwich Office Park,” said CBRE Vice Chairman Jeffrey Dunne, who collaborated with Senior Vice President Steven Bardsley and Senior Financial Analyst Travis Langer on the sale.