'Landmark' 7-Story Office Building Sold In Stamford

STAMFORD, CT — Cushman & Wakefield announced Monday the sale of a "landmark" seven-story office building located off exit 9 on Interstate 95. Soundview Plaza, a 179,000-square-foot property located at 1266 E. Main Street in Stamford, was purchased from global financial services firm Barings.

The property was purchased by an affiliate of TL Holdings on behalf of institutional investors, according to a prepared statement from Cushman & Wakefield.

The plaza is 88 percent leased to 15 tenants. It features a three-story atrium lobby and an array of onsite amenities, such as a full-service cafeteria, fitness center, conference center and an attached parking garage. The upper floors also offer "exceptional views" of Long Island Sound.

"The buyer identified an opportunity to acquire an institutionally owned asset that has been historically well-occupied," Cushman & Wakefield spokesperson Gary Gabriel said in a statement.

Gabriel, a member of Cushman & Wakefield's New Jersey capital markets team, represented the seller and procured the buyer with David Bernhaut, Andy Merin, Brian Whitmer and Frank DiTommaso II (East Rutherford, N.J.), as well as Al Mirin, Matt Torrance and Kate Schwartz (Stamford).

The plaza is situated along the border of Darien and Stamford, offering tenants a variety of nearby amenities in both communities.

"[The plaza] is certainly a well-known building within the local Stamford market, having served as home to WWE for many years,” DiTommaso said in a statement. "It has great visibility and a very prominent presence immediately off I-95. New ownership will benefit from in-place cash flow while it implements a renovation and capital improvement program."

Cushman & Wakefield's New Jersey-based capital markets team specializes exclusively in office, industrial, multifamily, land and retail property trades throughout New Jersey and New York, as well as Fairfield County.

Patch has reached out to Cushman & Wakefield for further information.