A Naugatuck resident has bought a two-story, 56,196-square-foot office building in Shelton for $3.15 million, according to the listing broker for the deal. Sareem James has bought the building, which sits on 8.27 acres at 1 Greenwich Place, from Sophie Wang, of New York City, doing business as Alpha SG LLC, said Patrick Colwell, a […]
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A Naugatuck resident has bought a two-story, 56,196-square-foot office building in Shelton for $3.15 million, according to the listing broker for the deal.
Sareem James has bought the building, which sits on 8.27 acres at 1 Greenwich Place, from Sophie Wang, of New York City, doing business as Alpha SG LLC, said Patrick Colwell, a broker with CBRE’s Stamford office
“It’s challenging to sell office properties in today’s market, but we were able to get a bit of a higher per-square-foot offer than other sales,” Colwell told the Hartford Business Journal.
James, doing business as Grand Realty LLC, is a retired aircraft engineer who sits on Naugatuck’s Board of Finance.
He said he plans to renovate the building and find two more tenants to occupy the building’s 15,000 square feet of empty space. The building is occupied by Ameripath New York, Vishay Sprague Inc. and Helping Hands Children’s Services, according to Colwell.
The building, which was built in 1978, is appraised at $1.08 million and is assessed at $795,080, property records show. Wang bought the building for $7.3 million in 2016.
