Cushman & Wakefield recently announced the $4 million sale of 40-42 Old Ridgebury Road in Danbury to a new management company.
The global commercial real estate firm represented the seller, Torchlight Investors L.L.C., in the sale of Pegasus Park to KS Partners L.L.C., a New York-based developer and investor with offices in Woburn, Massachusetts and Rocky Hill.
The property, which was recently renovated with new amenities, sits on more than 7 acres and includes two three-story office buildings totaling nearly 126,000 square feet and a three-level parking facility. The building, which currently has a 60-percent occupancy rate, is leased to tenants, including General Electric Co. and Shemin Nurseries Inc. About 72,340 square feet of leasing space remains.
“Historically, 40-42 Old Ridgebury Road has always been considered one of the most attractive office parks in the Greater Danbury market,” Tom O’Leary, Cushman & Wakefield senior director of leasing services and capital market groups, said in a written statement.
The building offers flexible floor plates, “making it ideal for virtually any size tenant,” he added.
