News story made available courtesy of Fairfield County Business Journal.

Danbury building sold for $14.9M

Monday, May 9, 2005

Plaza West, a 90,000-square-foot, four story, class A office building in Danbury, was sold last month to a New York investment group for $14.9 million, or $165.55 per square foot.

WS Mill Plain Road L.L.C. sold the property at 100 Mill Plain Road.

Robert D. Lewis, senior vice president of Prudential Connecticut Commercial Real Estate, represented both the seller, WS Mill Plain Road L.L.C., and the buyer.

According to Lewis, the buyer is a New York entity shifting its focus into Connecticut. It is acquiring other office and retail properties in Connecticut suburbs.

Plaza West is one-half mile from exit 2 off Interstate 84. Built in 1982, it consists of four stories. Other tenants include Countrywide Home Loans, Union Savings Bank and Morganti Construction Co.

The Dagar Group Ltd. in Fishkill, N.Y., assumed management responsibilities for the building after its purchase in April.