40 Richards Ave. in Norwalk sells for $15M

The 150,000-square-foot office building 40 Richards Ave. in Norwalk has been sold for approximately $15 million.

Built in 1985 and adjacent to Exit 13 on Interstate 95, the eight-story building was bought in 2013 by The Davis Cos. for $15 million. It has a 78% occupancy rate and its tenants include Fairfield County”™s Community Foundation, Potoo Marketing, USI Insurance, HQ Global Workplaces and L”™Amy.

The Rochlin Organization represented the buyer, Valley East Management and the capital markets group of Cushman & Wakefield represented the seller.