STAMFORD, CT - Cushman & Wakefield today announced the sale of Trefoil Park, a five-building, 230,677-sf Class A/B office park located in Trumbull, CT. The portfolio was sold to The Silverman Group, based in Short Hills, New Jersey. Cushman & Wakefield represented both the seller, New Boston Fund, Inc. and the buyer, The Silverman Group.
Conveniently located in proximity to Routes 8, 25 and 111, as well as the Merritt Parkway, Trefoil Park is situated on 19.5 acres and consists of five office/flex buildings — 35 Corporate Drive, 55 Corporate Drive, 126 Monroe Turnpike, 30 Trefoil Drive and 204 Spring Hill Road. The Park is 92 percent leased to a broad range of tenants including Sun Products, Ocean and Coastal Consultants, Network Synergy Corporation, Office Depot and Ansel Label and Packing. Trefoil Park features ample parking, a fitness center, a child-care center, flexible floorplates and the combination of office and flex building designs to broaden tenants’ leasing choices within the portfolio.
The Cushman & Wakefield sales team was comprised of Thomas J. O’Leary, senior director; David Bernhaut, vice chairman; and Grace Braverman, associate director.
“It was a pleasure to represent New Boston Fund in the sale of this exceptional portfolio,” said Mr. O’Leary. “After 12 years of working with them in the leasing of this exceptional portfolio, I am confident that The Silverman Group is acquiring an office park of the highest caliber — one which has been meticulously maintained and which uniquely fits the needs of the tenants in this marketplace.”
Trefoil Park is located in Fairfield County’s Eastern submarket, which includes the Towns of Bridgeport, Shelton, Stratford and Trumbull. This submarket is known for its high concentration of Fortune 500 industrial and service headquarters. Notable firms in the area include Pitney Bowes, General Electric Company, Sikorsky Aircraft, United Healthcare, Gartner, General Reinsurance and Unilever, among others.
“The purchase of Trefoil Park was a strategic buy for us as we expand our holdings into the Connecticut marketplace,” said Blake Silverman, executive vice president of The Silverman Group. “As the new owners of the portfolio, we have already begun significant capital upgrades to the buildings to bring them to full occupancy.”
