STAMFORD, CT - CBRE Group, Inc. announced on Thursday that it has successfully represented GE Capital in the sale of its Treasury Headquarters building at 201 High Ridge Road in Stamford, Connecticut.
Jeffrey Dunne and Steven Bardsley, of CBRE’s Institutional Properties, represented the seller, along with CBRE’s Robert Caruso, Brent Woodruff and Colin Reilly.
The building is an approximately 200,000-square-foot office property located in the Bull’s Head area of Stamford, set on 16.5 acres of developable land. It sold for $17 million to affiliates of Steven Wise Associates LLC, which represented itself in the transaction. The building will continue to be occupied by GE Capital.
“It’s always exciting to bring a prized asset to the market on behalf of a seller and to find a well-matched buyer. 201 High Ridge Road is located on 16.5 beautiful acres of land that the buyer can potentially reposition while keeping the seller as a tenant,” said Mr. Dunne. “It’s a win-win for all concerned, and as a result we’re thrilled about the results that we were able to achieve on behalf of GE Capital.”
The sale of 201 High Ridge Road comes on the heels of the largest Fairfield County transaction of 3Q 2015, in which the same team from CBRE represented GE Capital in the sale of 10 Riverview Drive in Danbury, CT. Praxair, Inc. purchased the 180,000-square-foot building, set on 13 acres in the Berkshire Corporate Park, for $18 million in order to occupy it as its corporate headquarters in a transaction that closed during 3Q 2015.