Cushman & Wakefield Reps Monroe Turnpike Associates in $3,275,000 Sale of 447 Monroe Turnpike

Cushman & Wakefield announced today the sale of 447 Monroe Turnpike, Monroe, Conn.   The Property is a one-story, 13,254-square-foot retail building situated on 2.34 acres.   Cushman & Wakefield represented the seller, Monroe Turnpike Associates, in the sale to Parkway Plaza, LLC, based in Norwalk, Conn.  The property sold for $3,275,000 or $247/square foot.

The Cushman & Wakefield sales team was comprised of Al Mirin, executive director, and Kate Schwartz, associate.  Mr. Mirin and Ms. Schwartz are members of Cushman & Wakefield’s Private Capital Group, which specializes in middle market building sales ranging from $2 million to $20 million.

447 Monroe Turnpike is located on Monroe’s busy retail corridor of U.S. Route 111 and is occupied by well-established tenants, such as Dunkin’ Donuts, a 25-year tenant, as well as Subway, KoKo FitClub, Monroe Cleaners, FM One Stop, C & J Cards and Linda’s Storytime.

Al Mirin, executive director said, “"Retail investment properties are the hottest type in Fairfield and Westchester Counties, we had 10 bids on this property and are very pleased to have represented Monroe Turnpike Associates in this deal.”

About Cushman & Wakefield:

Cushman & Wakefield is the world’s largest privately held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and management assignments. Founded in 1917, it has approximately 250 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has nearly $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.