The Grossman Cos. Inc. of Quincy has acquired a 92,500-square-foot office building in Wilton, Conn. as part of a joint venture with Summit Development LLC of Southport, Conn. for $19.2 million.
Wilton 372 is a two-story building at 372 Danbury Road that includes such tenants as Havas Worldwide, Kantar Retail and Northwestern Mutual. The building underwent $2.6 million in renovations in 2009, according to a statement by Jake Grossman, principal of The Grossman Cos.
The acquisition is part of The Grossman Cos.’s strategy of pursuing investments in the $2 million to $20 million range, Grossman said in a statement. The purchase is the third joint venture acquisition in the last 15 months in Connecticut by Grossman Cos. and Summit Development. In April 2013, the two companies acquired the 215,659-square-foot Lee Farm Corporate Park in Danbury. In September 2012, they bought a 210,000-square-foot industrial building at 349 Lake Road in Killingly.
CBRE’s New York institutional group represented seller Wilton 372 Assoc. LLC, an affiliate of Luzern Assoc. LLC, and procured the buyer.





