{"id":1004782984,"date":"2026-01-06T17:20:32","date_gmt":"2026-01-07T01:20:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004782984"},"modified":"2026-01-07T08:20:09","modified_gmt":"2026-01-07T16:20:09","slug":"945-ksf-connecticut-office-park-sells-for-59m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/945-ksf-connecticut-office-park-sells-for-59m\/","title":{"rendered":"945 KSF Connecticut Office Park Sells for $59M"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a8723253618a&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004782987\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/945-ksf-connecticut-office-park-sells-for-59m\/301-601-merritt-7\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/301-601-Merritt-7.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"301-601 Merritt 7\" data-image-description=\"&lt;p&gt;image sent by John DeLibero CBRE &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The properties in the transaction came online between 1985 and 2000. Image courtesy of CBRE&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/301-601-Merritt-7.png?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/301-601-Merritt-7.png?w=800\" alt=\"Aerial view of Merritt 7 in Norwalk, Conn.\" class=\"wp-image-1004782987\" style=\"width:423px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/301-601-Merritt-7.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/301-601-Merritt-7.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/301-601-Merritt-7.png?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The properties in the transaction came online between 1985 and 2000. <em>Image courtesy of CBRE<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>An affiliate of Argent Ventures is the new owner of a 945,000-square-foot office park in Norwalk, Conn. <\/p>\n\n\n\n<p>CBRE arranged the deal, which comprises four midrise buildings located in this northeastern suburb of New York City. The purchase price was $58.5 million, the <em>Hartford Business Journal<\/em> <em><a href=\"https:\/\/hartfordbusiness.com\/article\/new-york-developer-plans-to-convert-two-ct-office-buildings-into-300-apartments\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">reported<\/a>. <\/em><\/p>\n\n\n\n<p>New York State Teachers\u2019 Retirement System had previously owned the portfolio since 1995, according to Yardi Matrix. CBRE\u2019s Vice Chairman Jeff Dunne, Senior Vice President Steven Bardsley and Senior Financial Analyst Travis Langer represented the seller. \u00a0\u00a0<\/p>\n\n\n\n<p>The four newly acquired assets are part of Merritt 7, a 1.5 million-square-foot, six-building complex. Last October, Saber-Hightower, a Briarcliff, N.Y.-based developer, proposed converting the other two buildings, 101 Merritt 7 and 201 Merritt 7, into 300 apartments and an on-site parking garage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-asset-details\">Asset details<\/h2>\n\n\n\n<p>The first of the four buildings to be completed, 301 Merritt 7, opened in 1985. That was followed a year later by 401 Merritt 7 and by two final buildings in 2000, which were developed by Albert Phelps. Each asset features an on-site caf\u00e9, catering kitchen and shuttle service, Yardi Matrix shows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>READ ALSO: <a href=\"https:\/\/www.commercialsearch.com\/news\/a-newmark-executive-on-the-next-phase-of-the-office-lease-renewal-cycle\/\">A Newmark Executive on the Office Lease Renewal Cycle<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Other amenities include two food service halls with indoor and outdoor seating and conference rooms that can accommodate 120 people. According to the campus website, the property offers a newly renovated fitness center that is available to tenants.<\/p>\n\n\n\n<p>The property serves as headquarters for such major companies as Xerox, EMCOR Group, Terex Corp. and Hearst Connecticut Media Group. Other tenants include M&amp;T Bank, The Maddox Law Firm and CulinArt Group, according to Yardi Matrix. <\/p>\n\n\n\n<p>The property is along Merritt Parkway and near Route 7. Close by are the Merritt 7 train station, with service to Grand Central station in Manhattan. Interstate 95 is within five miles of the campus.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fairfield-county-vacancy-drops\">Fairfield County vacancy drops<\/h2>\n\n\n\n<p>According to an October 2025 Cushman &amp; Wakefield <a href=\"https:\/\/www.cushmanwakefield.com\/en\/united-states\/insights\/us-marketbeats\/connecticut-marketbeats\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">office report on Fairfield County<\/a>, office leasing  slowed in the third quarter, falling 17.4 percent. However, Class A space in areas such as Greenwich is in high demand and showing strong fundamentals. The vacancy rate fell 20 basis points to 27.3 percent on the strength of limited new supply, and conversions of existing office space are in the works. <\/p>\n\n\n\n<p>In nearby Stamford, another significant Connecticut office market, CBRE Investment Management sold <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-im-sells-connecticut-office-campus\/\">Stamford Towers<\/a> last September to a joint venture of Real Capital Solutions and Lamar Cos. The towers, which were 78 percent occupied at time of sale, span 332,000 square feet and represent RCS\u2019 first purchase in the state.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major pension fund owned the portfolio for three decades. <\/p>\n","protected":false},"author":3749,"featured_media":1004782987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,10,21747],"tags":[36373,32789,32799],"class_list":["post-1004782984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-northeast","category-office","tag-argent-ventures","tag-cbre","tag-cushman-wakefield"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>945 KSF Connecticut Office Park Sells for $59M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"An affiliate of Argent Ventures acquired this four-building office portfolio from a major state pension fund.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/945-ksf-connecticut-office-park-sells-for-59m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"945 KSF Connecticut Office Park Sells for $59M\" \/>\n<meta property=\"og:description\" content=\"An affiliate of Argent Ventures acquired this four-building office portfolio from a major state pension fund.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/945-ksf-connecticut-office-park-sells-for-59m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-07T01:20:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-07T16:20:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/01\/301-601-Merritt-7.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mikayla Sciortino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/945-ksf-connecticut-office-park-sells-for-59m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/945-ksf-connecticut-office-park-sells-for-59m\\\/\"},\"author\":{\"name\":\"Mikayla Sciortino\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f119cdcafd70d8f34fc5aa340ed5382b\"},\"headline\":\"945 KSF Connecticut Office Park Sells for $59M\",\"datePublished\":\"2026-01-07T01:20:32+00:00\",\"dateModified\":\"2026-01-07T16:20:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/945-ksf-connecticut-office-park-sells-for-59m\\\/\"},\"wordCount\":420,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/945-ksf-connecticut-office-park-sells-for-59m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/01\\\/301-601-Merritt-7.png\",\"keywords\":[\"Argent Ventures\",\"CBRE\",\"Cushman &amp; 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