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Classic Auction - Office

Value-Add Office Investment Opportunity

3191 Broadbridge Avenue, Stratford, CT 06614

ClosedSeptember 9th, 2020
This asset was part of the August 12th, 2020 sale event, resulting in a successful transaction that closed in just 28 days.

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  • Asset Type
  • Real Estate
  • Property Type
  • Office
  • Land Area
  • 9.68 Acres
  • Year Built
  • 1988
  • Number of Buildings
  • 2
  • Parking Count
  • 560
  • Occupancy
  • 0%
  • Occupancy as of
  • Jun 01, 2020
  • Office Type
  • Suburban Office
  • Property Size
  • 140,774 Sq Ft

3191 Broadbridge Ave., Stratford, CT

Investment  Highlights

  • Value-Add The 100% vacant asset offers tremendous upside potential through lease-up and repositioning, or redevelopment strategies.
  • Limited Supply Stratford, CT boasts a low availability rate with a total inventory of 580,000 SF across 11 office buildings.
  • Low Basis The Property is expected to sell at a significant discount to replacement cost, providing investors with a competitive advantage both in rental rates and redevelopment opportunities.
  • Residual Value Situated on nearly 10 acres in a residential neighborhood within Fairfield County - one of the wealthiest counties in the nation.
  • Prime Location Offers unparalleled privacy and is strategically positioned near major transportation arteries i.e. I-95, Route 8, Merritt Parkway & Sikorsky Memorial Airport.
     

Offering Details

Newmark Knight Frank and RealINSIGHT Marketplace are pleased to present the opportunity to acquire the fee-simple interest in 3191 Broadbridge Avenue (the "Property").  Located in Stratford, Connecticut, the Property is a 140,774 SF office complex, comprised of two interconnected buildings supported by extensive private parking.

3191 Broadbridge encompasses a main building that was built in 1988 and an annex building that was originally built in 1956 and was renovated in 1988 while the main building was being developed.  The Property's main building consists of four-stories totaling 109,624 SF and the annex building contains three-stories totaling 31,150 SF. The site offers an abundance of parking with a total of 560 available spaces.

Having most recently served as a key satellite office of Sikorsky Aircraft Corp., the Property offers quality at a discount with significant upside potential through re-tenanting or repurposing. The Property is situated in an upscale residential neighborhood, which will provide future tenants with security, privacy, and ample space - premiere amenities in today's modern times.

The Property is exceptionally well-located, benefitting from its proximity to major thoroughfares including I-95 (2.0 miles), the Merritt Parkway (2.2 miles) and Route 8 (1.7 miles). Furthermore, the Property is just 5.0 miles from Sikorsky Memorial Airport (BDL) and 2.4 miles from Bridgeport Hospital (Yale New Haven Health).

Property Tours:  Please contact the Newmark Knight Frank team to schedule a tour. 

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

ClosedSeptember 9th, 2020
This asset was part of the August 12th, 2020 sale event, resulting in a successful transaction that closed in just 28 days.

Ready to sell your asset on the platform with the highest trade rate in the industry?
Get Started Today!

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Michael A. Fine

    c/o Fisher Auction Company Inc.

    License: 0755028