Commercial Real Estate News
Acquisition & Disposition
Stamford Industrial Flex Building Sells for $4.875 Million
STAMFORD, CT – January 21, 2019 – 132 Jamaica Avenue Realty Corporation has purchased an industrial flex building located at 72 Camp Avenue in Stamford Connecticut, for $4,875,000 announced Jon Angel, President of Southport-based Angel Commercial, L.L.C.
“The building was substantially leased,” states Angel who represented both parties in this transaction. “This was an investment deal that utilized the tax-benefits of a 1031 Exchange.” Several complexities of the deal were handled by Scott Gerard of Shipman & Goodwin LLP who practices in the areas of commercial finance, corporate law, and real estate. The seller was 72 Camp Avenue LLC.
The building is a 33,822 SF two-story industrial flex building on approximately one acre in a Light Industrial (M-L)) zone. Located in the Springdale section of Stamford near the Darien border, the property is close to restaurants, banks, and the post office. It is steps away from the CTtransit Bus line and within walking distance to the Springdale Metro-North Train Station (0.6 miles).
The two tenants in the building are Building Blocks Learning Center, and Upper Deck Fitness, who recently took over additional space in the building.
Angel Commercial, L.L.C. is a full-service commercial real estate brokerage firm that specializes in the acquisition, disposition, and leasing of office, industrial, retail, multi-family, development, and investment properties on a local and national level. They are the recipient of CoStar’s Power Broker Firm Award for 13 consecutive years. Visit Angel Commercial, L.L.C. on the web at www.angelcommercial.com.