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.

Grossman Cos. Buys Conn. Office Building In Joint Venture For $19.2M

by Banker & Tradesman time to read: 1 min
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