Marcus & Millichap Inc.
09/09/2024 | Press release | Distributed by Public on 09/10/2024 16:58
Marcus & Millichap Completes Sale of Prime Westport Boutique Mixed-Use Property
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Marcus & Millichap Completes Sale of Prime Westport Boutique Mixed-Use Property
September 09, 2024
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WESTPORT, Conn., Sept. 9, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Westporter, a boutique mixed-use property in Westport, Connecticut.
"Westport, Conn., is considered one of the best towns in the country due to its high quality of life, excellent schools, and scenic coastal location. The town's proximity to New York City, combined with its vibrant cultural offerings and strong community atmosphere, make it a desirable place to live," said Eric Pentore, senior vice president investments. "These factors, along with a limited supply of housing and high demand from both current residents and those looking to move to the area, position Westport for continued strong organic rent growth."
Pentore, Victor Nolletti, Wes Klockner, and Ross Friedel, investment specialists in Marcus & Millichap's New Haven office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The Westporter, located at 793 Post Road East in one of the county's wealthiest towns, was built in 2019. The property includes 28 spacious flats and townhouse apartments, along with four ground-floor retail units, offering residents a luxury, amenity-rich community. It is near Interstate 95 with convenient access to the Merritt Parkway and the Westport train station, providing connectivity to New York City and Fairfield County's employment hubs.
"Westport, Conn., is considered one of the best towns in the country due to its high quality of life, excellent schools, and scenic coastal location. The town's proximity to New York City, combined with its vibrant cultural offerings and strong community atmosphere, make it a desirable place to live," said Eric Pentore, senior vice president investments. "These factors, along with a limited supply of housing and high demand from both current residents and those looking to move to the area, position Westport for continued strong organic rent growth."
Pentore, Victor Nolletti, Wes Klockner, and Ross Friedel, investment specialists in Marcus & Millichap's New Haven office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The Westporter, located at 793 Post Road East in one of the county's wealthiest towns, was built in 2019. The property includes 28 spacious flats and townhouse apartments, along with four ground-floor retail units, offering residents a luxury, amenity-rich community. It is near Interstate 95 with convenient access to the Merritt Parkway and the Westport train station, providing connectivity to New York City and Fairfield County's employment hubs.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.