Trefoil Park sells for $26.7 million
The Silverman Group sold Trefoil Park, a five-building corporate campus located at 35 Corporate Drive, for $26.7 million Monday.
Real estate firm Cushman & Wakefield, who represented The Silverman Group, announced the sale in a press release.
“Trefoil Park presented a rare opportunity to purchase a flex portfolio in prestigious Fairfield County, CT,” said Tom O’Leary, Senior Director of Cushman & Wakefield. “Given its strong history of tenant retention, we’re not surprised that the complex sold in such a short period of time, and we are gratified to continue our involvement with the property as its exclusive management and leasing agent.”
The five buildings included in the portfolio are:
- 35 Corporate Drive (three stories and 54,899 rentable square feet)
- 55 Corporate Drive (three stories and 47,264 rentable square feet)
- 126 Monroe Turnpike (two stories and 44,221 rentable square feet)
- 30 Trefoil Drive (single story and 45,615 rentable square feet)
- 204 Spring Hill Road (single story and 40,675 rentable square feet)
Trefoil Park has a diverse roster of 37 corporate and industrial tenants. At 95% leased, over 36% of the net rentable area consists of tenants that have held leases with the property for ten years or longer. Some of the buildings’ tenants include: Sun Products Corporation; Enthone, Inc.; Ocean and Coastal Consultants; Liberty Mutual and Bright Horizons Children’s Centers.
Trefoil Park offers an array of amenities including a fitness center located at 35 Corporate Drive and a child care center located at 126 Monroe Turnpike.
The property also provides an abundance of parking space, flexible floor plates and high-tech security system access for all its buildings, and attractive landscaping. Located in the heart of Fairfield County, Trefoil Park is easily accessible to commuters and conveniently located within minutes of major highways such as the Merritt Parkway (Route 15) and Routes 8, 25 and 111, I-95 and I-84.
The corporate campus is also situated nearby mass transit such as the Metro-North Railroad /Bridgeport rail station.
Additionally, Cushman & Wakefield has been appointed by 265 West 34th Street, LLC as exclusive management and leasing agent for the portfolio.
A Cushman & Wakefield team of Tom O'Leary, Gary Gabriel, Andrew Merin, David Bernhaut and Andrew Schwartz represented The Silverman Group in the multi-million dollar sale.