Group Led By Valley East Management Acquires Fairfield Property For $10 Million Represented By CBRE
SOLD
$10,000,000
+ 2
Connecticut
See Similar DealsOffice51,000 SF
SOLD
Group Led By Valley East Management Acquires Fairfield Property For $10 Million Represented By CBRE
2150 Post Rd, Fairfield, CT, 06824
See Similar DealsOffice51,000 SF
+ 2
Summary
CONNECTICUT
Asset Type:Office
Price Per Square Foot:$196
Total Square Footage:51,000 SF
Transaction Type:Sale
A boutique office building located at 2150 Post Road in Fairfield, Connecticut has been sold for $10 million. The property, which was built in 1986, spans approximately 51,000 square feet and was 96 percent leased at the time of the sale.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $10,000,000.00
- Address: 2150 Post Rd, Fairfield, CT, 06824
- Market: Fairfield
- Seller's Representatives: David Gavin, Gene Pride, Steven Bardsley, Stuart MacKenzie - CBRE
- Brokers: Jeffrey Dunne - CBRE
- Buyer: Group Led by Valley East Management
- Year Built: 1986
- Square Footage: 51,000
- Occupancy Rate at Sale: 96%
A team from CBRE, comprising Jeffrey Dunne, Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride, and Stuart MacKenzie, represented the seller and facilitated the transaction, while the buyer was led by Valley East Management.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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