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Office Furniture Affiliate Buys 50K SF Branford Office Building

A Connecticut real estate investor affiliated with Stamford’s SWC Office Furniture has purchased a 50,000-square-foot office building in Branford for $4.5 million.

The Class A office property was 38 percent leased prior to the time of sale. However, coinciding with the purchase from TKJ Assoc., the buyer inked two new leases for the entire first floor, bringing the building’s occupancy close to 70 percent.

Steve Inglese, principal of the New Haven Group, brokered the deal.

The three-story building was built in the early 1990s. It was previously occupied by a single tenant, Curagen Corp. When that company was sold off and the building vacated, TKJ started subdividing the building for multi-tenant occupancy, attracting tenant Durata Therapeutics to the property.

Renovations are planned for various common areas, including the lobby entrance. The New Haven Group will continue marketing the building for lease for the new owner.