Newmark reports the sale of 55 Post Road West in Westport, Conn. A partnership of ClearRock Properties and Homewood Real Estate Partners purchased the fully-occupied, three-story brick building from Oak Tree Capital Management for $8.5 million.
The building totals 33,842 square feet on over an acre of property with water views of the Saugatuck River. It is one of only 13 Class A properties in Westport, a highly sought after office market, and also one of Fairfield County’s most desirable residential communities.
Newmark’s John Goodkind, Stephen Banker and Paul Gojkovich III represented the seller.
“The building is a gem,” says Gojkovich. “55 Post Road West, at the crossroads of Westport’s CBD, represented an outstanding opportunity to acquire an asset that has a long-standing history of 100 percent occupancy in a top supply constrained market.”
About Newmark
Newmark is one of the largest real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark is a part of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.