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Silverback Development Acquires Office Complex in Stamford for $12.4M

October 3, 2018 | Reprints | Unlock Link | Print

Silverback Development of Stamford has acquired a two-building, 128,000-square-foot office complex in Stamford for $12.4 million. The 1.58-acre complex is located at 1111-1117 Summer St. in downtown Stamford.

This is Silverback Development’s second investment in downtown Stamford; it now owns five buildings in the area. The office complex is currently 50 percent occupied, and was recently renovated for $2 million to update lobbies, hallways and public spaces.

“We believe Stamford is one of the most promising resurgent real estate markets in the Tri-State Area right now, as evidenced by the influx of Millennials, real estate, health care and tech companies flocking to the area,” Alan Glick, vice president of development at Silverback Development, said in a statement.