Westport Trophy Property Sells Off-Market for $10.65M

Westport, CT Retail Sale

 

Westport, CT— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of a premier mixed-use property located at 101-107 Post Road East and 26-28 Church Lane in the heart of Westport, Connecticut. The investment sold for $10,650,000. Matthews™ Vice President Joanna R. Manfro represented the seller in the transaction.

 

The 17,358-square-foot property comprises two buildings: a dramatic 11,572-square-foot retail space currently leased to Urban Outfitters (NASDAQ: URBN) and the historic Sherwood House, a 5,786-square-foot building featuring a restaurant and office space. Joanna R. Manfro successfully identified a qualified buyer through an off-market approach, securing a sale within just a few short months.

 

“Working with Joanna was a true pleasure.  Joanna and the team at Matthews™ were very professional and assisted in all aspects of the transaction. This is a very special project for me as it launched the eventual redevelopment of Church Lane in Downtown Westport. I am happy for the new owner and pleased that David Adam Realty was retained to manage the asset on their behalf, and wish them much success,” David A. Waldman, the seller, said.

 

“This off-market deal highlights the importance of customization,” Manfro said. “By understanding the seller’s goals and a property’s unique charm, we achieved a quick, mutually beneficial outcome. Real estate demands flexibility, not a one-size-fits-all strategy.”

 

The buyer, a 1031 exchange buyer from New York City, was represented by Gregory Kim of Sequoia Property Group.

 

“This property offered an exceptional opportunity to meet my client’s investment goals,” Kim adds. “The combination of strong tenants, prime location, and historical charm makes it a truly unique asset, and we are very satisfied with this acquisition.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.