Rubenstein Partners sells connecticut office for $34m
Rubenstein Partners sold 181 Harbour Drive that is a 91,040 square foot Class A office building in Stamford,Conn. A joint venture between the Melohn Group and Drake Street Partners paid $33.5 million for the asset.
CBRE represented the seller and procured the buyer.CBRE’s team included Vice Chairman Jeffrey Dunne, Senior Vice President Steven Bardsley and Senior Investment Analyst Travis Langer.
The building, located within the 17-acre, 6-building, 780,445-square foot Shippan Landing waterfront office campus, currently serves as the headquarters of Vineyard Vines. Besides, Freedom Boat Club is a tenant. The building was constructed in 1982 and was most recently renovated in 2019 and provides access to the amenities of Shippan Landing, such as a fitness center, a beer garden, volleyball, basketball and bocce courts and a cafeteria. Additionally, the office building is near Interstate 95 and around 2 miles from downtown Stamford.
Rubenstein Partners will continue to own the remaining five offices within the campus. The firm plans to invest $40 million in capital improvements, that will bring new lobbies, building systems and outdoor collaborative space. Besides these, in June, the company invested $163 million in an office tower located in Stamford’s central business district.
Source: CP Executive
Fulya Altunyay/[email protected]