One Waterview LLC Leases 34200 Square Feet To Tangoe Inc At 1 Waterview Dr Shelton
1 Waterview Dr, Shelton, CT, 06484
Building Size
34,200 SF
Asset Type
Office
Closing
Oct 9, 2017
AI
One Waterview Drive is a 95,000-square-foot Class A office building located at 1 Waterview Dr, Shelton, CT, 06484. The property features 34,200 square feet of leased office space, owned by One Waterview LLC and managed by Mountain Development Corp. The building is set on 9.7 acres with amenities including a renovated glass atrium lobby, cafeteria, fitness center, and outdoor dining patio.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 1 Waterview Dr, Shelton, CT, 06484
- Market: Shelton
- Landlord: One Waterview LLC
- Landlord's Representative: Joseph Jones III, Berkshire Hathaway HomeServices
- Tenant: Tangoe Inc
- Tenant Representatives: Dan Spero, Craig Eisenhardt, and Paul Tortora, Jones Lang LaSalle
- Square Feet Leased: 34,200
Joseph Coci III, partner of Mountain Development Corp, arranged the lease on behalf of the landlord. Tangoe Inc. is relocating its Connecticut operations to this new space, combining locations from Orange and Sandy Hook. The lease provides Tangoe with move-in ready offices that are fully furnished, allowing for an accelerated occupancy process. The building was previously designed for another tenant, Carter’s, further illustrating its readiness for immediate use.
Shelton Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93