NEW CANAAN – A 10,709-square-foot downtown property with 12 retail tenants has been put up for sale on Elm Street, according to Cushman & Wakefield’s Capital Markets Group.
Cushman & Wakefield exclusively represents the owners of 140 Elm St. – Downtown New Canaan LLC of Las Vegas. The property is home to Law Offices of Leon Krolikowski, Verizon Wireless, Framebridge, Core Burn Pilates and Eyes on Elm and is surrounded by numerous upscale boutiques and national retailers, such as Ralph Lauren, J.Crew and Vineyard Vines, fine dining establishments, and professional/service offices.
It is a 90.8% occupied retail/office building optimally situated in the sought-after section of Elm Street within the heart of the Town Center.
The Elm Street property was last appraised for $5.05 million.
According to Cushman & Wakefield, the appeal of the property is further enhanced by its access to ample municipal parking and steps from the New Canaan Metro-North Train Station. As of the fourth quarter 2025, the retail and office vacancy rates in New Canaan were approximately 6%. The submarket’s historically low vacancy rates, together with the consistent demand for New Canaan Central Business District properties, provides a competitive advantage when negotiating terms with prospective tenants.
