A 191,128-square-foot office building in Norwalk, Connecticut, that last sold in September 2018 for $16.5 million has changed hands for $5.9 million.
The Hartford Business Journal reported the six-story building, which was built in 1988, was sold by Hanover Real Estate Partners to a pair of limited liability companies – 535 Norwalk LLC and Five Hundred Thirty Five Norwalk LLC. The property previously sold in July 2014 for $13.5 million.
Norwalk, a small city roughly 90 minutes outside of New York City, is one of Connecticut’s weakest office markets with 5.7 million square feet in space and a 40.6% vacancy rate.
Photo courtesy of LoopNet
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