Valley East Management has purchased The Mill River Building in Fairfield for $10 million.
The 50,000-square-foot, class A, boutique office building at 2150 Post Road was built in 1986; according to Valley East, it maintains a stable occupancy, although some suites are available for lease.
Valley East made its entree into the Connecticut market last year by purchasing both 40 Richards Ave. and 200 Connecticut Ave. in Norwalk. The group recently renovated the entire third floor of 40 Richards, turning the 18,000-square-foot space into a modern coworking space, Norworx.
“We remain committed to suburban office,” said Valley East partner Bob Agahi. “The pandemic has corporate America rethinking urban office occupancy, and the suburban office sector is poised to capitalize as a work-from-home alternative.
“We see value in suburban marketplaces and are looking to grow our portfolio substantially in the years ahead,” he added.
