TRUMBULL, Conn. -- Cushman & Wakefield, represented The Silverman Group, have announced the sale of Trefoil Park, a five-building, office/laboratory/flex park located at 35 Corporate Dr., in Trumbull, for $26.7 million.
The buyer is 265 West 34th Street, LLC. A Cushman & Wakefield team of Tom O'Leary, Gary Gabriel, Andrew Merin, David Bernhaut and Andrew Schwartz represented The Silverman Group.
"Trefoil Park presented a rare opportunity to purchase a flex portfolio in prestigious Fairfield County, Connecticut," said O'Leary, who's senior director at Cushman & Wakefield. "Given its strong history of tenant retention, we're not surprised that the complex sold in such a short period of time, and we are gratified to continue our involvement with the property as its exclusive management and leasing agent."
The five buildings included in the portfolio are
- 35 Corporate Dr. -- three stories and 54,899 rentable square feet
- 55 Corporate Dr. -- three stories and 47,264 rentable square feet
- 126 Monroe Turnpike -- two stories and 44,221 rentable square feet
- 30 Trefoil Dr. -- single story and 45,615 rentable square feet
- 204 Spring Hill Rd. -- single story and 40,675 rentable square feet
Trefoil Park has a diverse roster of 37 corporate and industrial tenants. At 95 percent leased, over 36 percent of the net rentable area consists of tenants that have held leases with the property for at least 10 years.
Some of the buildings' tenants include Sun Products Corporation, Enthone, Ocean and Coastal Consultants, Liberty Mutual, and Bright Horizons Children's Centers.
Trefoil Park offers amenities including a fitness center located at 35 Corporate Dr. and a childcare center located at 126 Monroe Turnpike. The property also has a lot of parking, flexible floor plates and high-tech security system access for all its buildings. Located in the heart of Fairfield County, Trefoil Park is easily accessible to commuters, located within minutes of major highways including Merritt Parkway and Routes 8, 25 and 111, I-95 and I-84. It's also situated near mass transit such as the Metro-North Railroad.