Photo courtesy of Zelco Properties

A prominent retail landmark in Stamford has sold for $62 million after being renovated and re-tenanted after losing its longtime anchor according to public records.

A joint venture led by Westport real estate firm Zelco Properties & Development bought 110 High Ridge road from an LLC controlled by Saks Inc., the parent company of department store Saks 5th Avenue.

The 160,203-square-foot property with 640 surface parking spots was built in 1969 and for decades held the Stamford location of the Lord & Taylor department store chain until that location shuttered in 2021.

Zelco’s partners in the deal were not immediately identifiable. In an announcement, the company called them “an institution real estate private equity firm and an operating partner focused on acquiring and repositioning retail real estate.”

After Lord & Taylor’s departure, 118 High Ridge Road was repositioned and given a new facade. Whole Foods signed on as the anchor tenant on the ground floor in 2022 while about half the space on the building’s second floor was taken up by a Saks Off 5th location. Zelco said 24,000 square feet of divisible space is available next to to Saks off 5th, and an additional 50,000 square feet of divisible space is available on the third floor.

“These spaces present a rare opportunity for anchor and complementary tenants to establish a presence in a high-performing center within a market where retail vacancy is at historic lows,” Zelco’s announcement stated.