Monday Properties acquires Nestle-anchored CT office complex

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Anthony Westreich’s Monday Properties has acquired a Class A
office complex in Stamford, CT, from tech giant Oracle for $27.25 million.

JLL Capital Markets announced it closed the sale of 900 Long
Ridge Road, a two-building, Class A office complex totaling 224,000 s/f and
anchored by the Nestle water company.

“Since COVID we are seeing investors pivot to office
investments that primarily feature a single investment-grade tenant with a
long-term lease, which was the case here at 900 Long Ridge Road,” said Jose Cruz,
the JLL senior managing directors who led the deal with Kevin O’Hearn, Stephen
Simonelli, Michael Oliver and Michael Kavanagh.

900 Long Ridge Road consists of Building 1, which is a
three-story, 59,700 s/f building; Building 2, which is a four-story building
totaling 164,300 s/f occupied by NEstle; and a four-story, 307-space parking
garage. The complex is 73.35 percent occupied overall.

The 36.58-acre campus offers tenants a walking trail, fitness
center with locker rooms, auditorium, training rooms, cafeteria, and large and
small boardrooms.

The property is positioned the Merritt Parkway Corridor,
which features more than 5.4 million square feet of office space and excellent
regional connectivity via access to Route 9 and Interstate 95 as well as Amtrak
service into Manhattan.

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