Home Tags Commercial real estate
Tag: commercial real estate
The largest transaction for the quarter was ASML’s lease on 98,907 square feet of office space at 50 Danbury Road in Wilton.
General Electric Capital acquired the property in 1995 and sold it 10 years later for $17 million.
"The Empire State Building would be an ideal deployment," said Higgins.
Laurence Gottlieb, former president and CEO of Hudson Valley Economic Development Corp., will lead the initiative.
The property is 94% leased.
Originally built in 1958, Pougkeepsie Plaza’s tenants include Famous Footwear, Jo-Ann Fabric & Crafts, Marshall’s, Modell's and The UPS Store.
From a multitenant office market of more than 33 million square feet about 12 years ago, we have demolished and/or repurposed almost 6 million square feet of multitenant office space, and have not built any new office buildings at all.
“A lot of investors are looking to put their money into mixed-use properties," said Tom LaPerch, director of the commercial group for Houlihan Lawrence.
The Greenwich CBD recorded a 14% availability rate, its highest since the third quarter of 2013.
The unnamed buyer bought the smaller 15,000-square-foot office tower for use as its new corporate headquarters.
The Greenwich and Stamford CBD zones, which accounted for 73.7 percent of the first quarter’s leasing activity
The 265,000-square-foot commercial property was built in 1923 as a hat manufacturing facility.
“In Bridgeport, they are looking for more residential opportunities than commercial opportunities,” said Kim Galton, director of retail for Houlihan Lawrence’s Commercial Group.