The purchase of 131 Danbury marks the second acquisition of a Fairfield County commercial office building by GHP this year. Earlier, the company added 79 East Putnam Ave. in Greenwich to its portfolio.
"131 Danbury Rd. is really the type of property we are looking for," says GHP principal Andrew Greenspan. Noting that the deal fits with the firm's investment and management strategy, he adds, "It is well located in the heart of Fairfield County, surrounded by executive housing, high-end retail conveniences and easy access to highways and labor pools. The building is in mint condition."
The property, built in the late 1960s, was completely renovated two years ago, GHP officials say. Greenspan adds that his firm was not the highest bidder for the property. "When the highest bidder was unable to perform, the sellers were aware of our reputation and reached out to us and we were able to acquire the property at our original offer."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.