WESTPORT, CT-Knowledgeable real estate sources tell GlobeSt.com that Invesco has acquired the Westport View Corporate Center here in a deal they say approaches the mid-$30-million level.

The property at 8-10 Wright St. was sold by Prescott Capital Management LLC of New York City. The firm announced that it had parted with the 80,000-sf office asset, but did not divulge the terms of the sale or the purchaser except to say the transaction was with “an institutional buyer.” A reliable real estate source tells GlobeSt.com that the new owner is Invesco, whose real estate division is headquartered in Dallas. A Prescott Capital spokesman did not comment on the value of the deal or that the transaction was with Invesco.

“We are very pleased with the successful conclusion of our investment in Westport View Corporate Center,” says Susan L. Stupin, managing director, Prescott Capital. “At the time we purchased the property, we viewed it as a strong value-add opportunity–an attractive asset that had not realized its full potential despite being in a submarket with significant barriers to entry, a strong local economy, attractive demographics and demand drivers reflecting the growth of the New York metropolitan area. Under our active management, it generated returns that substantially exceeded our initial underwriting.”

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.