Marcus Partners Announces Acquisition of 6 Armstrong Road, 175,000 sf Class A Office Property in Shelton, Connecticut
A $4.5 million capital improvement program to be undertaken.
Marcus Partners is pleased to announce the acquisition of 6 Armstrong Road, a 175,000 square foot class A office property located in Shelton, CT, on behalf of, MCP 6 Armstrong LLC. Marcus Partners will execute a $4.5 million capital improvement program to reposition the property, which will include upgraded lobbies, common areas and furnishings, new and efficient mechanical and control systems, new granite exterior entrance walkways and thoughtfully appointed landscaping, site and parking lot improvements.
6 Armstrong is conveniently located in the heart of Eastern Fairfield County’s commercial district off Route 8 in Armstrong Park and offers high quality office and R&D space with amenities tailored to the Park’s clientele, including walking trails along a 3-acre pond, an interior heated parking garage, a fitness center with locker rooms and showers and a full-service café.
Marcus Partners has been actively growing through various types of acquisitions along the East Coast over the past 18 months with 10 transactions involving 34 buildings in the Miami, Atlanta, Washington DC and Suburban NYC markets totaling over 2.9 million square feet of office, bio-medical, medical office, R&D, and industrial space. This transaction brings Marcus Partners portfolio of properties owned and managed by its affiliates to 6.7 million square feet.
David Fiore, Principal of Marcus Partners, said “We look forward to introducing the Marcus Partners brand to 6 Armstrong and transforming it into our flagship property in Eastern Fairfield County, Connecticut. With swift execution of our capital program, 6 Armstrong will be the high quality value option in the submarket. We fully expect to begin leasing the 80,000 sf of available space in short order.”
“This acquisition fits in well with our investment strategy of executing real estate related transactions that involve recapitalizing existing ownership structures, purchasing notes or fee simple assets of good quality that are well located and offer value-add opportunity with superior infrastructure at a reasonable basis.” Mr. Fiore added. “We continue to seek additional real estate related investment opportunities throughout east Coast markets and specifically in the New York, New Jersey and Connecticut market as we look to expand our tri-state asset portfolio.”Back to All News