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— Landmark, Class A Office Property Occupies Private Island on Saugatuck River —
WESTPORT, Conn., Oct. 13, 2017 – One of Connecticut’s most distinctive office properties – One Gorham Island in downtown Westport – has come onto the market for sale, announced Colliers International Group Inc. (NASDAQ:CIGI, TSX:CIG). The landmark, 41,000-square-foot building sits on a seven-acre private island on the Saugatuck River.
“One Gorham Island is the most sought after business address in Westport,” noted Colliers’ Michael Gordon, who is marketing the property with Enzennio Mallozzi; the team is based in the global commercial real estate services firm’s Stamford, Conn., office. “This trophy asset is 94 percent occupied by four, long-term credit tenants. Its truly unique setting, surrounding amenities and accessibility make it an outstanding investment opportunity.”
The three-story building offers 360-degree, unobstructed river views with outdoor patios, and a wrap-around roof deck and garden. High-end renovations completed in 2016 and 2017 included updates to the lobby, roof terrace and common areas. One Gorham Island is just steps away from Westport’s top-notch restaurants, bars and retail, providing a live-work-play environment. The property also offers convenient access to public transportation, the Merritt Parkway and I-95.
One Gorham Island is being offered for sale for the first time in its three-decade history. “This building commands the highest rents in Westport,” Mallozzi said. “The availability of Class A space here is limited, and with high barriers to entry and restrictive zoning regulations, One Gorham Island undoubtedly will maintain its competitive position for years to come.”
The Colliers team also cited strong new leasing activity in Fairfield County as a testament to the area’s continued desirability for a wide range of companies. “The office sector continues to improve steadily, thanks in part to a burgeoning multi-family market that is driving an influx of educated employees to Westport and its surrounding communities,” Gordon added.
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About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
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Evelyn Weiss Francisco, Vice President