Westport commercial property sells for $11M

Stamford-based Cushman & Wakefield recently announced the sale of 180 Post Road East, a 32,481-square-foot, two-story retail and office building in downtown Westport for $11 million.

Cushman & Wakefield represented the seller, Baystreet Properties L.L.C.. Luzern Associates L.L.C., based in Wilton, was the buyer.

The price amounts to $339 per square foot. Luzern Associates is planning a full renovation and repositioning of the asset in the near future, Cushman & Wakefield reported.

The Cushman & Wakefield sales team was comprised of Al Mirin, executive director; Michael Gordon, director; and Kate Schwartz, associate. Mirin and Schwartz are members of Cushman & Wakefield”™s Private Capital Group, which specializes in middle market building sales ranging from $2 million to $15 million.

The 180 Post Road East property consists of 1.33 acres in Westport”™s downtown retail corridor. The building houses Michele”™s Pies and Destination Maternity. Billed as “rare for downtown Westport,” the site has private parking for about 100 cars and is adjacent to a municipal parking lot. There are 14,683 square feet of retail space on the ground floor and 17,798 square feet of office space on the second floor.