The U.S. subsidiary of a Japanese bulk carrier shipping company, Sanko Kisen USA Corp., has sold its longtime office building in Greenwich”™s Cos Cob neighborhood to an undisclosed buyer for $3.5 million, Colliers International Group Inc. reported.
The seller, whose parent company is Tokyo-based Sanko Steamship Co. Ltd., will vacate the 10,000-square-foot, Class B office building at 5 River Road. A broker in the sale said Sanko is consolidating its platform and there are no apparent plans to relocate Sanko Kisen”™s Connecticut headquarters.
Sanko Steamship Co. in 2012 filed for bankruptcy protection in Japan and in U.S. Bankruptcy Court and completed a company reorganization in late 2014.
The undisclosed buyer purchased the two-story building and assumed a 999-year land lease for the ¾-acre site. The 34-year-old office building is part of a mixed-use complex on Cos Cob Harbor.
Sanko was represented in the sale by Michael Siegel, executive managing director, and Enzennio Mallozzi, managing director, in the Stamford office of Colliers International. The Colliers brokers also procured the buyer.
Mallozzi said the buyer”™s offer was accepted within three weeks of the River Road property being listed on the market. “This is an attractive location in an area recognized for its affluent demographics,” he said.
