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Business Property Sells For $13.3 Million In Fairfield County

Aerial view of 316 Courtland Ave., a 118,500-square-foot property in Stamford that sold for $13.3 million.
Aerial view of 316 Courtland Ave., a 118,500-square-foot property in Stamford that sold for $13.3 million. Photo Credit: Provided

Simone Development Companies, a major real estate investment company, announced its recent purchase of 316 Courtland Ave. in Stamford for $13.3 million.

The 118,500-square-foot business property in Stamford features warehouse, research and office space.

Of the total 78,000 square feet immediately available for lease, 65,638 square feet is warehouse/research & development space and 12,768 square feet is office space.

The property is believed to be the largest block of contiguous warehouse space available in Stamford.

Cushman and Wakefield and Laurence London & CO., LLC, commercial real estate services represented the seller, which was Baker Companies.

Features of the property include 1.1 acre outdoor storage space, clear span warehouse space with ceiling heights from 12 to 17 feet, elevator to the second floor of the office space, abundant parking with 243 total spaces and ample power. The property is conveniently located only a mile from I-95 and a half mile from the Glenbrook train station.

“This acquisition continues the expansion of Simone Development’s tri-state industrial portfolio. Over past few months we have acquired a total of 285,500 square feet of industrial properties in five transactions,” said James D. MacDonald, vice president of leasing for Simone Development.

Josh Gopan, director of leasing for Simone Development, said the property is being marketed for warehouse and office tenants of all space requirements.

“Of the 64,000 square feet of warehouse space we will consider dividing as small as 12,000 square feet. The flexibility of the building is one of its best attributes. Tenants will find the expansive parking, ceiling heights and large lot and opportunities for tailgate loading very attractive,” Gopan said in a news statement.

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