1150 Summer Street—Under Contract

Cushman & Wakefield’s Capital Markets Group is pleased to present for sale 1150 Summer Street in Stamford, Connecticut for $2,499,000.

1150 Summer Street is a 23,778 SF three-story (plus mezzanine) office building situated within walking distance of every Central Business District (“CBD”) amenity. The property is set only one block west of Bedford Street, known as “Restaurant Row,” which is Stamford’s main shopping, dining and nightlife destination, two blocks east from Washington Boulevard and two blocks north of Broad Street. The property is also located 1 mile from Interstate 95 and the Stamford Transportation Center, providing direct non-stop access to Manhattan in only 50 minutes, and is proximate to every major east-west and north-south commuter artery in the city.

1150 Summer Street is 87.6% leased to nine tenants ranging in size from 445 SF to 4,750 SF with expirations ranging from 2024 to 2030, providing a stable income with the ability to increase income as leases expire. For small to mid-sized corporate tenants seeking quality executive-level offices with immediate access to the region’s major transportation arteries, 1150 Summer Street is an attractive option allowing the property to remain competitive for a broad spectrum of tenant sizes. Its flexible floorplate design and size enables the property to attract the smaller to mid-sized tenant profile that is the current staple of the Stamford office market. The functional floor plans can easily accommodate tenants from 400 SF to 12,000 SF on a single floor and all spaces provide ample natural light.

1150 Summer Street is situated in the southern portion of the Summer Street Corridor, which has a significant roster of legal services and professional medical tenants that typically support specialized health services such as pediatrics, orthopaedics, physical therapy, cardiology, dentistry, ophthalmology, chiropractic care and psychiatry. The property is strategically located equidistant from both Stamford Hospital and the Tully Health Center (0.8 miles) and within walking distance of the Connecticut Superior Courthouse (0.2 miles). The property also benefits from having a relatively high parking ratio (3.15/1,000 SF)—a necessity for medical practices—with 87% of the spaces being covered.