CBRE announced today the $30,021,500 sale of 8 & 10 Wright Street, a Class A office complex in Westport, Conn. The team of Jeffrey Dunne, Steven Bardsley and Stuart MacKenzie of CBRE’s Institutional Properties Group represented the seller, Marcus Partners. CBRE also procured the buyer, Waterway Capital, in the sale.

Currently 94% leased, 8 & 10 Wright Street consists of two office buildings totaling 83,964 square feet. The property features breathtaking water views of the Saugatuck River and is within a five-minute walk of high-end retail and dining options in Downtown Westport. Located in one of the country’s most affluent areas, 8 & 10 Wright Street has recently benefitted from a large-scale capital improvement program including new lobbies, corridors, restrooms and windows, making the asset very attractive to businesses and investors. Major tenants at 8 & 10 Wright Street include UBS, Regus Corporation, Berkowitz, Trager & Trager, Energy Income Partners and Ameriprise Financial.

“Westport attracts many financial institutions and wealth management offices due to the high net worth clientele in the area,” said Dunne of CBRE. “Westport’s office market should continue to benefit from this, which bodes well for Waterway’s investment.”

CBRE Institutional Properties has a number of attractive investment opportunities including: 100 Manhattanville Road, a 290,634-square-foot 68% leased office building in Purchase, N.Y.; 40 Danbury Road, a 161,222-square-foot 90% leased office building in Wilton, Conn.; Continental Plaza, a 647,947-square-foot 91% leased office complex in Hackensack, N.J.; and American Metro Center, a 84% leased 488,463-square-foot office complex in Hamilton, N.J.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.