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November 30, 2020 Comments Off on JLL Closes Stamford Office Sale Views: 687 Fairfield / Westchester, New York News, Tri-State Area New York

JLL Closes Stamford Office Sale

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JLL Capital Markets closed the sale of 900 Long Ridge Rd., a two-building, Class A office complex totaling 224,000 square feet in Stamford, CT. Monday Properties acquired the property from a Fortune 100 company.
 
The JLL team representing the seller was led by senior managing directors Jose Cruz and Kevin O’Hearn, senior directors Stephen Simonelli and Michael Oliver and analyst Michael Kavanagh. 
 
“Since COVID we are seeing investors pivot to office investments that primarily feature a single investment-grade tenant with a long-term lease, which was the case here at 900 Long Ridge Rd.,” said Cruz.
 
900 Long Ridge Rd. is 73.35% occupied overall, and Building 2 serves as the headquarters for an investment grade tenant in the food and beverage industry. The property is positioned within Stamford in Southern Connecticut, and more specifically, in the Merritt Parkway Corridor, which features more than 5.4 million square feet of office space.

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