Matrix Investment Group recently completed a $13.5 million deal for an office park at 535 Connecticut Ave. in Norwalk.
Jeffrey Dunne and Steven Bardsley of CBRE Group Inc.’s institutional properties team represented 535 Connecticut Avenue L.L.C., a joint venture between KABR Real Estate Investment Partners and New York City-based Blackpoint Partners.
The 179,000-square-foot office building represents Matrix’s second acquisition in Fairfield County. In 2009, the real estate company purchased the 1.2-million-square-foot Matrix Corporate Center at 39 Old Ridgebury Road in Danbury through CBRE’s sales team.
The site includes a fitness center, cafeteria and covered parking spaces. The property is 45 percent leased, according to a CBRE press release.
“535 Connecticut Avenue’s easily accessible location and good ‘bricks and sticks’ should provide Matrix significant upside through the lease-up of the vacant space, including the only contiguous block of space over 90,000 square feet on the Route 1 corridor,” Dunne said.
