Fairfield Property Sells For More Than $5 Million

FAIRFIELD, CT — A nearly 4-acre property on Fairfield's auto row was recently purchased for more than $5 million by members of the leadership team at a neighboring car retailer.

The 3.72-acre site, located at 65 Commerce Drive, was sold for $5.4 million in an off-market transaction to 65 Commerce Drive Associates LLC, according to a news release from Southport-based commercial real estate firm Angel Commercial LLC.

“65 Commerce Drive is located on what’s commonly referred to as auto row,” said Angel Commercial President Jon Angel, who represented both parties in the transaction. “The site is next to the Land Rover/Jaguar dealership and across the street from the Exit 25 ramp from I-95.”

According to the database OpenCorporates, the registered address of 65 Commerce Drive Associates LLC is 26 Commerce Drive, which is the location of Devan Infiniti of Fairfield and is situated across the street from 65 Commerce Drive. The database also listed Devan Infiniti Dealer Principal Jonathan Brostoff and President Marc Blitzer as members of 65 Commerce Drive Associates LLC.

The property at 26 Commerce Drive was previously owned by the estate of Ralph Arganese, according to the news release, which was distributed Sept. 11.