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“While many institutional investors have followed the crowds toward multifamily and industrial offerings, attractive opportunities to purchase stable, generational retail assets have been prevalent,” says the realtor's David Gavin.
According to CBRE, the deal was the largest new lease signed in Fairfield County during the second quarter of 2019.
The 311-unit Parkledge has a mix of one-, two-, three-, and four-bedroom apartments.
The 3-story property was built in 1988 and is anchored by Saks Fifth Avenue on the ground floor.
The Greenwich CBD recorded a 14% availability rate, its highest since the third quarter of 2013.
The 91,040-square-foot building, which will continue to serve as the headquarters of the clothing company, was bought by New York real estate investment firms Melohn Group and Drake Street Partners.
There still is good news to be found within the market even though some numbers are down.
The two-building office complex is 94% leased.
The property had been a century-old warehouse/factory before being converted into office buildings.
The company has been operating from a coworking space and will relocate later this month.
The hospital also operates a business office at the 3-story, 105,000-square-foot medical office building.
The portfolio consists of Berkeley at Waypointe at 500 West Ave. and Quincy Lofts at 30 Orchard St.
Two newly released reports on the Westchester office market put activity in a positive light.