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From NorwalkPlus.com News
Meriden Executive Park is a 155,053± SF Class A office property located in Meriden, Connecticut. The property is comprised of two institutionally maintained buildings—530 and 538 Preston Avenue—that are strategically located immediately off Exit 19 of Interstate 91. Meriden Executive Park is the premier asset in its submarket, offering a superior location with excellent visibility and signage opportunities on Interstate 91, a gorgeous 17-acre campus and easily divisible center-core floorplates. The property also offers a strong amenity package including two-story stone lobbies, picnic areas, a jogging path and shower facilities, as well as an abundant parking ratio of 4 spaces per 1,000 SF. Jeff Dunne had the following comments on the sale: “With its substantial in-place cash flow and significant leasing upside, Meriden Executive Park should provide Trammell Crow with good long term upside.” The CB Richard Ellis New York Institutional Group (the “Group”) specializes in the sale of investment properties in the suburban markets surrounding New York City as well as select regional markets throughout the country. The Group services a prestigious client base of institutions, corporations, private investors, developers and REITS and has closed $8.2 billion in property sales in all property types over the last three years. Based on its ability to strategically advise clients through complex real estate and capital market cycles, CBRE has consistently achieved the highest sales prices in each of the region’s submarkets. Through its affiliation with L.J. Melody, a leading debt and equity firm, CBRE is also able to provide clients with a comprehensive array of financial instruments and strategies. Recent sales include the Baker Portfolio in New Jersey, New York and Connecticut ($220 million); 9W Office Center in Fort Lee, NJ ($53 million); the SoNo Retail Portfolio in South Norwalk, CT ($24.7 million); Century Plaza in Mineola, NY ($23.4 million); 8 Farm Springs Road in Hartford, CT ($23.3 million); and 100 Pearl Street in Hartford, CT ($18 million). The Group also has a number of attractive investment opportunities currently on the market including: the Westport Office Portfolio, a seven-building, 145,154 SF portfolio in Westport, CT; 538 Broadhollow Road, a 183,000 SF office building in Melville, NY; 7 Saint Paul Street and One Enterprise Center in Baltimore, MD and Jacksonville, FL, respectively, two office towers totaling 696,178 SF; Avalon Walk, a 764-apartment property in Hamden, CT; and Aviation Plaza, a 445,208 SF retail center in Linden, NJ. About CB Richard Ellis CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2007 revenue). With over 29,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis is the only commercial real estate services company named one of the 50 “best in class” companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune. Please visit our Web site at www.cbre.com. © Copyright by NorwalkPlus.com |
