Lender-Facilitated Sale: Value-Add Office | 200 Connecticut

Highlights:

• Eight-story, 132,234 SF office building currently 39% leased to 13 tenants, offering significant upside through lease-up and rent growth.

Description:

RI Marketplace Online Auction July 14-16
Register to bid on Marketplace:

https://rimarketplace.com/auction/2590/lender-facilitated-sale-value-add-office-200-connecticut?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=office_2590

Newmark, in conjunction with RealINSIGHT Marketplace, is pleased to present for sale 200 Connecticut Avenue in Norwalk, CT. This eight-story, 132,234-square-foot office building offers investors a compelling value-add opportunity, with only 39% of the space currently leased to a diverse group of professional service and consulting tenants. The in-place rental rates are below market, and the leases have a weighted average remaining term of 2.6 years—providing ample room for repositioning and growth. The property is being sold through a lender-facilitated process, allowing acquisition at a favorable basis and the flexibility to invest in further improvements.

Renovations completed in 2019 have significantly upgraded the building’s appeal, with enhancements to the exterior façade, lobby, café, elevators, and mechanical systems. These improvements complement the existing amenities, including structured parking, a café with outdoor seating, and adaptable multi-tenant floor layouts.

The building is ideally positioned in a highly accessible part of Norwalk, Connecticut. It sits along the well-traveled Route 1 corridor and benefits from immediate access to Interstate 95. Additionally, its proximity to the Metro-North Railroad provides easy commuter access to New York City, just 40 miles away. The location is enriched by nearby retail and lifestyle offerings, including a Brookfield Properties mall with over 70 retailers and new entrants like Target and Wegmans. The South Norwalk waterfront, a burgeoning hub for dining, arts, and entertainment, is also just minutes away.

Situated in Fairfield County—one of the wealthiest regions in the U.S.—Norwalk stands out as a premier submarket alongside Stamford, Bridgeport, and Danbury. The county boasts the highest concentration of Fortune 500 headquarters in the state, including Berkley, Booking Holdings, and Charter Communications. The surrounding area is densely populated, with over 718,000 people within a 15-mile radius and exceptionally strong household incomes, reinforcing the location’s long-term appeal and potential for sustained tenant demand.

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