New Canaan Elm Street Building Sells for $7.6M

109-115 Elm Street has sold for $7,600,000, approximately $806 per square foot.  The property was purchased by Campana 109, LLC from Treadwell Holdings, LLC. The building sold fully occupied, with tenants such as J. Crew, Vineyard Vines, and Ralph Lauren.  Cushman & Wakefield sold the property at a reported 6.0% cap rate.

The building has two retail units on the first floor and seven tenants located on the second floor. The second floor is accessible at grade with a municipal parking lot located towards the rear of the property. The building is comprised of 9,431 square feet of retail and office space on Elm Street, which has a traffic count of over 9,500 cars a day, making it one of the busiest streets in New Canaan.