900 Long Ridge Road in Stamford, Connecticut — Courtesy: JLL
By Joshua Burd
A national real estate investment firm has acquired a 224,000-square-foot office complex in Stamford Connecticut, in a deal arranged by JLL’s New Jersey capital markets team.
The buyer, Monday Properties, paid an undisclosed price for the two-building property at 900 Long Ridge Road. JLL represented the seller, a Fortune 100 company, noting that the complex includes a three-story, 59,700-square-foot building and a four-story building totaling 164,300 square feet, along with a 307-space parking garage.
The complex is 73.35 percent occupied overall, with the larger building serving as the headquarters for an investment-grade tenant in the food and beverage industry.
“Since COVID we are seeing investors pivot to office investments that primarily feature a single investment-grade tenant with a long-term lease, which was the case here at 900 Long Ridge Road,” said JLL’s Jose Cruz, a senior managing director, who brokered the sale alongside Senior Managing Director Kevin O’Hearn, senior directors Stephen Simonelli and Michael Oliver and Analyst Michael Kavanagh.
In a news release, JLL said the 36.58-acre campus offers tenants a walking trail, a full fitness center with locker rooms, an auditorium, training rooms, a full-service cafeteria and large and small boardrooms. The location is easily accessible from Route 9 and Interstate 95, with proximity to Amtrak service into Manhattan.