DANBURY – The multi-tenant, office and medical office building Plaza West at 100 Mill Plain Road has been put up for sale, according to the broker and exclusive advisor for the property Cushman & Wakefield.
While the four-story property’s value is not disclosed, it is believed to be worth around $22 million, according to published reports. The building’s major tenants include Oppenheimer & Co., AFC Urgent Care Danbury, Union Savings Bank, Haymond Law Firm and Plus Media. There are a total of 12 tenants with leases, which amounts to a 38% of the 36 available spaces across 92,319 square feet.
The building’s flexible floorplans are highlighted by retail-style ground floor space, which includes a retail bank branch and three medical office suites, providing strong visibility, convenient access, and functionality that appeals to both office and healthcare-oriented tenants.
With a significant portion of the building currently vacant, there is an ability to create meaningful upside through lease-up, according to Cushman & Wakefield. The average tenant space is 2,952 square feet with an average rent of $24.79 per square foot, according to a flyer for the property.
