JV in $25m corporate buy.Prescott Capital Management, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the investment and asset management unit of The Prescott Group, LLC, announced a joint venture acquisition with Woodbridge, NJ-based Onyx Equities, LLC to purchase Westport View Corporate Center, a first class office complex located in Westport, CT for $24.8 million or $307 per square foot. The property, consisting of two buildings, is located at 8 and 10 Wright Street. Built in 1977 with a major renovation in 2000, the 80,000 s/f is 93 percent occupied. The seller was Westport View Corporate Center, LLC. "This transaction represents the purchase of a first class office building in a strong and supply constrained submarket of the greater New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. at pricing levels that compare favorably to similar high quality assets in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ," said Theodore R. Gamble, Jr., Managing Director at Prescott. "Westport, like other towns also located in Fairfield County Fairfield County is the name of three counties in the United States:
"As part of this transaction, Prescott agreed to deed a significant amount of undeveloped land on the property to Earthplace, the Westport-based nature center, to be designated as open space in perpetuity Of endless duration; not subject to termination. The phrase in perpetuity is often used in the grant of an Easement to a utility company. in perpetuity adj. forever, as in one's right to keep the profits from the land in perpetuity. ," said Daniel Steinberg, Managing Director at Prescott. |
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