Q2 2012 Fairfield County, Connecticut Office Property Sales Analysis

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Q2 2012 Fairfield County, Connecticut Office Property Sales Analysis


The pace of qualifying single property office investment sales in the second quarter of 2012 was typical of the past few years.* Two properties sold for $27.5 million at a mean price of $100 psf and a mean cap rate of 6.7%. The rolling 12 month cap rate was pulled down to 7.3%, the lowest in several years. The $53.5 million in sales for the first half of the year was on pace to approximate the average of $100.2 million per year from 2009 to 2011. The quarter’s leading sale, and the largest of the past 12 months, was the 101,400-square-foot The Greenwich Atrium in Greenwich, which sold for $19.3 million ($190 psf) in May. CW Capital sold it to Artemis Retail Estate Partners.