HB Nitkin has acquired 53 Forest Avenue, a boutique office building in Greenwich, Connecticut for $15.5 million from Collins 53 Forest. The 43,985-square-foot property is located adjacent to the Old Greenwich Train Station and situated between Interstate 95 exits 5 and 6. Since 2020, 98% of tenants have leased space at the building which has historically attracted prominent financial service firms. The buyer intends to lease up the remaining vacant space available onsite.
Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE represented the owner while procuring HB Nitkin as buyer for this transaction. “53 Forest provides tenants with a high quality alternative compared to other areas such as Greenwich Avenue where rents easily exceed $100 per square foot,” said Dunne regarding this acquisition opportunity in Connecticut’s Fairfield County region . This post was originally published by Connect CRE .
