November 5, 2019
CBRE recently arranged the $7.6-million sale of a 64,255-square-foot commercial property at 4 Mountainview Terr. in Danbury, CT. Louis Zuckerman and Patrick Colwell of CBRE represented the owner, 101 East Ridge, LLC, and also procured the buyer, who was new to the Danbury market.
The property is a suburban office complex that was 81% occupied at the time of sale. The buyer plans to continue managing the building as it remains, and secure new tenants for the remaining availability.
“Although the buyer was new to the Danbury office market, they quickly recognized the property’s upside opportunity and potential for achieving significantly higher occupancy,” said Zuckerman, a VP at CBRE. “They were drawn to 4 Mountainview Terr.’s stable rent roll, quality improvements and maintenance by previous ownership, and convenient location off a major thoroughfare.”
4 Mountainview features newly-renovated common areas and bathroom, along with a convenient location off Interstate 84.
For comments, questions or concerns, please contact Paul Bubny