The two-building, 332,000-square-foot office complex in downtown Stamford has been sold for an undisclosed sum.
Already a Subscriber? Log in
Get Instant Access to This Article
Subscribe to Hartford Business Journal and get immediate access to all of our subscriber-only content and much more.
- Critical Hartford and Connecticut business news updated daily.
- Immediate access to all subscriber-only content on our website.
- Bi-weekly print or digital editions of our award-winning publication.
- Special bonus issues like the Hartford Book of Lists.
- Exclusive ticket prize draws for our in-person events.
Click here to purchase a paywall bypass link for this article.
A two-building, 332,000-square-foot office complex in downtown Stamford has been sold to out-of-state investors.
The buyers of the Stamford Towers are Colorado-based Real Capital Solutions and Lamar Companies of Fairfield, N.J., who acquired the property at 680 and 750 Washington Blvd.
The buyers, which announced the deal Wednesday morning, didn’t disclose the purchase price. The deal has not yet been posted in city land records.
The former Addison, Texas-based owner of 680 and 750 Washington Blvd. — CBRE Global Investors/CBRE Investment Management — paid $42 million and $53.7 million, respectively, for the office buildings in 2017, property records show.
Built in 1989 and 1990, Stamford Towers is located one block from the Stamford Transportation Center and near Interstate 95; 680 Washington Blvd. contains 132,477 square feet of office space, while 750 Washington Blvd. contains 186,148 square feet.
The overall property is 78% leased, with tenants including Citigroup, Oaktree Capital Management and H/2 Credit Manager, the buyers said.
The new owners said they plan a capital improvement program with spec suites and updated amenities aimed at attracting and retaining tenants.
Real Capital Solutions has been active in office markets nationwide, with more than $1 billion in offers across cities including Chicago, Washington, D.C., Denver and Dallas, the firm said. Lamar, primarily known for retail properties, said it ranks among the country’s 100 largest shopping center owners.
The deal represents Real Capital Solutions’ first Connecticut acquisition and Lamar’s first office purchase in its current investment cycle, the firms said.
