447 Monroe Turnpike, Monroe, CT (contributed photo)
STAMFORD, CT - Cushman & Wakefield announced today the sale of 447 Monroe Turnpike, Monroe, Conn. The Property is a one-story, 13,254-square-foot retail building situated on 2.34 acres. Cushman & Wakefield represented the seller, Monroe Turnpike Associates, in the sale to Parkway Plaza, LLC, based in Norwalk, Conn. The property sold for $3,275,000 or $247/square foot.
The Cushman & Wakefield sales team was comprised of Al Mirin, executive director, and Kate Schwartz, associate. Mr. Mirin and Ms. Schwartz are members of Cushman & Wakefield’s Private Capital Group, which specializes in middle market building sales ranging from $2 million to $20 million.
447 Monroe Turnpike is located on Monroe’s busy retail corridor of U.S. Route 111 and is occupied by well-established tenants, such as Dunkin’ Donuts, a 25-year tenant, as well as Subway, KoKo FitClub, Monroe Cleaners, FM One Stop, C & J Cards and Linda’s Storytime.
Al Mirin, executive director said, “"Retail investment properties are the hottest type in Fairfield and Westchester Counties, we had 10 bids on this property and are very pleased to have represented Monroe Turnpike Associates in this deal.”