Westport Retail Sells for $33.5M

CoStar – August 29, 2012

David Adam, Acadia Realty Sell Main Street Bldg

The retail building at 125 Main St. in Westport, CT sold for $33.5 million, or about $1,241 per square foot, to a private investor.

The seller, a joint venture between David Adam Realty, Inc. and Acadia Realty, purchased the building in late 2007 and then fully renovated and repositioned it in 2010/11 with tenants including a three-level GAP store and two-level Brooks Brothers Womens.

Located in Fairfield County, the 30,000-square-foot property is in a prime retail location with credit tenants. The area is home to many national retailers such as Tiffany & Co., William Sonoma, Restoration Hardware and Urban Outfitters.

Matthew Keefe, president, and David Lindland, vice president for HK Group represented the joint venture seller. David Waldman, president of David Adam Realty, Inc. represented the buyer and has been retained to perform all future brokerage and management responsibilities for the new owner.

http://gateway.costar.com/Reports/OneClick.aspx?rpt=NewsArticle&ArtID=CDB52CDCB057D8712419B9306D0E20F6

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