A Westport real estate development and investment firm has led the $62 million purchase of the 153,000-square-foot shopping center.
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A Westport real estate development and investment firm has led the $62 million purchase of a 153,000-square-foot shopping center anchored by Whole Foods Market and Saks Off 5th on High Ridge Road.
Zelco Properties & Development, along with an institutional real estate private equity partner and an operating partner focused on retail properties, acquired the property at 110 High Ridge Road, which sits at the intersection of High Ridge and Long Ridge roads — two of Stamford’s main commercial corridors.
The shopping center includes more than 640 surface parking spaces. Whole Foods occupies the first floor (44,648 square feet), while about 24,000 square feet of divisible space is available on the second level adjacent to Saks Off 5th, and another 50,000 square feet is available on the third level.
Zelco is the holding company for Westport-based brokerage firm Charter Realty, which will serve as the exclusive leasing representative for the ownership group.
Zelco said it has completed more than 8 million square feet of projects valued at more than $2 billion. Its portfolio includes retail centers, business parks, mixed-use developments and single-tenant properties along the East Coast and into the Mountain West.
The property transfers list 110 High Ridge Owner LLC, controlled by 110 High Ridge JV LLC, of New York, as the buyer. The seller was LT Stamford LLC, controlled by Saks-LT Master Mezzanine I LLC, of New York.
LT Stamford bought the property, which was built in 1969, in 2015, according to property records. It was appraised at $35.3 million and assessed at $24.7 million in 2024.
