710 Route 46 in Fairfield — Courtesy: Cushman & Wakefield
By Joshua Burd
An investor has acquired a 104,000-square-foot office building in Fairfield for nearly $7.2 million, in a newly announced transaction by Cushman & Wakefield.
The brokerage team said the property, 710 Route 46, appealed to StoneWater Equities with its location adjacent to Interstate 80 and its proximity to a host of retail amenities. The buyer, which is led by Morris Sarway, paid $7.15 million in the deal with 700 Fairfield Investors LLC.
“710 Route 46 is a premier asset with a strategic location and flexible zoning, offering multiple different redevelopment opportunities for new ownership,” C&W’s Andy Schwartz said. “Ownership has the opportunity to bring new tenancy the space and vastly increase the income.”
The brokerage team, which includes Andy Merin, Schwartz, Jordan Sobel and Andre Balthazard, noted that the four-story building offers large windows, ample parking, a lobby with a full-height atrium and two glass-enclosed elevators. C&W added that the site is within walking distance of The Hilton Double Tree, Target, Costco, Starbucks and the Willowbrook Mall.