The 75,000-square-foot office building at 60 Danbury Road in Wilton Corporate Park in Wilton has been sold for $17.1 million.
Wilton Medical Realty, a special purpose entity affiliated with Constitution Surgery Alliance, acquired the property and will serve as the developer and manager for what is intended to be a medical use project. Davis Marcus Partners, a joint venture of Boston based real estate firms Marcus Partners and The Davis Companies, was the seller.
Davis Marcus worked strategically with the buyer to manage the required entitlements and permitting to convert the office building for medical use, which is expected to include an ambulatory surgery center, a multi-specialty medical practice, and several single-specialty physician offices.
The building was developed in 2008 for a single office tenant and now is being repurposed for optimal use. Davis Marcus Partners will remain as the property”™s manager and oversee the conversion.
“Our strategy identified the highest and best use for the property and delivered a solid return for our investors,” said Marcus Partners Principal and New York Regional Director David Fiore. “This market is seeing high demand for medical use and we believe that the resulting product here at 60 Danbury will be best-in-class.”
Wilton Medical Realty was represented by Rich Lee of OR&L.
