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Wells Fargo-Leased Office Building Sold for $15M in Westport

Image courtesy of CBRE

An affiliate of Boston-based Waterway Capital has acquired a 100 percent leased office building in Westport for $15 million.

The 35,777-square-foot building at 450 Post Road East is 88 percent occupied by Wells Fargo as anchor tenant.

CBRE Institutional Properties Group’s Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin and Travis Langer represented the seller, EWKAI Post Road Properties LLC, an entity managed by Earle W. Kazis Associates, Inc., and procured the buyer.

“Westport’s office market is extremely tight with less than 5 percent vacancy and high barriers to entry which is further buoyed by the phenomenal migration into Connecticut,” Dunne said in a statement.

CBRE Institutional Properties currently marketing Fairfield County office properties including 400 Atlantic St. in Stamford, 285 and 355 Riverside Ave. in Westport and 9 Old Kings Highway South in Darien.