Stamford-based RHYS has announced the sale of 950 Post Road in Westport, a 6,616-square-foot retail building, for $5 million by Forstone 950 Post LLC. The buyer, Ewkai 950 Post Road LLC, will hold the property as a long-term investment.
The single-story space was built in 1988 and is triple net-leased to the parent company of Men’s Wearhouse, which is its sole occupant. The transaction that traded for $756 per square foot.
“The property represented an excellent opportunity for the buyer to purchase a well located free-standing retail building with a long-term lease in place with a strong retail tenant,” said RHYS Executive Vice President and Principal Christian Bangert. “The location, visibility and ample on-site parking make it very desirable.”