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Louis Dreyfus Sells CT Property for $140 Mil

WILTON, CT-The Louis Dreyfus Property Group has sold its 10 and 20 Westport Road buildings here, which total approximately 540,000 sf of office space, for $140 million to the Teachers Insurance and Annuity Association, according to local real estate sources.

By John Jordan | Updated on January 10, 2002

WILTON, CT-In what some have called a record-setting sale, the Louis Dreyfus Property Group has sold its 10 and 20 Westport Road buildings here to the Teachers Insurance and Annuity Association for approximately $140 million, according to sources knowledgeable of the deal.

The transaction, which closed at the end of December 2001, has been a closely guarded deal. In fact, parties close to the deal offered no comment on reports that the sale fetched nearly $260 per sf for the complex that totals approximately 540,000 sf.

Douglas Harmon, managing director and partner with Eastdil Realty of New York City, was the exclusive sales agent for the 10 and 20 Westport Road buildings that were put on the market during the fall of last year. Harmon had no comment on the reports of the sale of the two buildings to the Teachers Insurance and Annuity Association.

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