Shelton Office Building Sells for $6.3M

375 Bridgeport Avenue, a class B office building in Shelton, has sold to Woodgreen Management, Inc. for $6.3 million ($136/SF). The property was marketed at an undisclosed price and received nine written purchase offers. CBRE, which brokered the deal, described the building as the “highest quality small tenant office building in the Eastern Fairfield County Market”. The building sold 98%  leased, the most notable tenant being Webster Bank.

The three-story office building is comprised of 46,364 square feet of space. The seller, Rugby Realty Company, LLC, has extensively renovated the property beginning in 2010. Renovations included a new roof, HVAC, lobby, and restrooms along with new elevator cabs, and interior and exterior lighting. The property is located on the corner of Bridgeport Avenue and Nells Rock Road, in close proximity to dining, retail, and hotels.