CBRE team brokers $10m sale of warehouse building.Jeffrey R. Dunne and Jeffrey J. Oram of CB Richard Ellis' New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Tri-State Investment Team recently represented 316 Courtland Ave. Associates, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an entity controlled by Seaboard Properties, Inc., in the sale of 316 Courtland Avenue in Stamford, CT for $10.175 million or $87.36 PSF. The Team was also responsible for procuring the buyer, a joint venture between Sivan Properties and Benerofe Properties. 316 Courtland Avenue is a 116,472 SF, multi-tenanted, 96% leased warehouse building located on a 6.8-acre lot along the westerly side of Courtland Avenue. The property has a stable, strong credit income stream with telecommunications giant SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. (rated A+ by Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index ) leasing 64.5% of the building. Other major tenants include Fairfield County Record Retention LLC (15,500 SF), Planet Fitness (15,125 SF) and NSW NSW New South Wales Noun 1. NSW - the agency that provides units to conduct unconventional and counter-guerilla warfare Naval Special Warfare Professional Billing, Inc. (6,375 SF). Jeff Dunne had the following comments on the sale: "316 Courtland Avenue is an ideal location from which to service the local Stamford economy. New ownership acquired a reliable long-term income stream given the length of the leases and the credit of the tenants at 316 Courtland Avenue." The CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. New York Tri-State investment team has several investment opportunities currently on the market including Norden Park, a 612,119 s/f business park building in Norwalk, CT; 333 Meadowlands, a 136,000 s/f office building in Secaucus, NJ; 571 Jersey Avenue, a 301,626 s/f net leased distribution center in New Brunswick, NJ; 225 High Ridge Road, a two-buildings, 227,966 s/f office campus in Stamford, CT; and Eagle Road Shopping Center, a planned 214,033 s/f retail property consisting of three freestanding buildings in Danbury, CT. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion