The 215,000-square-foot Lee Farm office building in Danbury has been purchased by CT Property Realty from Summit Development of Southport and The Grossman Cos. of Quincy, Massachusetts for $31.75 million.
Tenants include Wells Fargo, Navigator Management, IMS Health, Lenovo and Sigmund Software.
“Our transformation of Lee Farm was both rapid and dramatic as we made extensive upgrades to the property while filling all of the vacant space and replacing GE Capital,” said Summit Development principal Felix Charney of the property, which went up for sale in May 2016.
Summit spent over $1 million in renovations, Charney said.
CBRE”™s Jeff Dunne, vice chairman of capital markets and institutional properties, and Steven Bardsley, senior vice president of institutional properties, represented both sides in the transaction.
