Westport office building sells for $15 million

CBRE announced today the $15 million sale of a 35,777-square-foot Class A office building in Westport.

450 Post Road East is fully leased to two tenants, including Wells Fargo with 88%.

The team of Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin and Travis Langer of CBRE”™s Institutional Properties Group represented the seller, EWKAI Post Road Properties LLC, the entity managed by Earle W. Kazis Associates Inc.

CBRE also procured the buyer, WFF Post Rd, LLC, which is owned by Waterway Family Funds LLC, a division of Waterway Partners LLC and an affiliate of Waterway Capital LLC.

“Westport attracts many financial institutions and wealth management offices due to the high-net-worth clientele in the area,” said Dunne. “Westport”™s office market is extremely tight with less than 5% vacancy and high barriers to entry which is further buoyed by the phenomenal migration into Connecticut. These positive market dynamics bode well for Waterway”™s investment.”