GHP Office Realty LLC, a division of Westchester County-based Houlihan-Parnes Realtors LLC, recently announced it brokered the purchase of 20 Saugatuck Ave. in Westport.
The vacant retail shopping center comprises 19,000 square feet. Terms of the sale were not disclosed.
GHP in a press release said the new owners are planning a $2 million capital improvement project to create a Class A multitenant shopping center.
Coming improvements are said to include a modern glass façade, a new awning, new signage, new landscaping; a resurfaced and re-striped parking lot and a resurfaced roof.
Andrew Greenspan, principal of GHP Office Realty, said 20 Saugatuck Ave. offers a unique opportunity to Class A retailers because of the limited availability of retail locations in the market that can offer up to 19,000 square feet of space.
The owners have hired GHP Office Realty as exclusive agent for the center.
