CBRE announced the sale of three Westport commercial properties for a total value of $19.35 million.
The properties included a pair of medical assets ”“ the Willows Campus at 125-131 Kings Highway North and 728 Post Road East, which CBRE procured the buyer, HB Nitkin. Also sold was a boutique office building at 1465 Post Road East, which was acquired by Greenhouse Offices as their first office purchase in Fairfield County. CBRE represented the seller, Leifer Properties, in all three transactions.
The medical properties at approximately 89% leased, provide high-end medical suites to specialized medical practitioners including Yale University. The office property at 1465 Post Road East offers small tenant spaces.
All three parties structured their transactions as IRS Section 1031 tax deferred exchanges. Both Greenhouse and Nitkin pivoted from Florida while Leifer Properties pivoted to commercial properties located in Austin, Texas, while still retaining other prominent holdings in Westport.
Photo: 728 Post Road in Westport
