- 6 Armstrong Road in Shelton.
A Shelton office building sold for $16.73 million, CBRE Group Inc. announced on Friday.
Jeffrey Dunne and Steven Bardsley, of CBRE”™s Institutional Properties team, negotiated the sale of the 6 Armstrong Road office building owned by an entity of Marcus Partners Inc. to New York City-based Windsor Management Corp.
The building is 163,287 square feet and 87 percent leased. It recently underwent a $2.2 million renovation project that included upgrades to the HVAC system, restrooms, lobby and common area as well as expanded parking. These improvements drove occupancy from 50 percent to 87 percent in one year, CBRE said. Building amenities also include a cafeteria, fitness center and conference facility.
“Six Armstrong”™s stable in-place tenancy coupled with its recent capital program should provide Windsor Management Corp. with the platform to continue its lease up program, while benefiting from dependable income,” Dunne said in a statement.
