Photo courtesy of CBRE

A 100 percent leased office-retail building in high-rent downtown Greenwich has traded for $10.7 million, or $622 per square foot.

The buyer of 39 Lewis St. is an entity managed by U Park Group, according to CBRE, which represented seller 39 Lewis Street Property LLC of New York.

The 17,081-square-foot building was completed in 1963. Currently, it is fully occupied by ground-floor retail and office tenants, reflecting the strong fundamentals of the Greenwich central business district. According to CBRE research, the submarket’s office vacancy rate is approximately 8 percent with average rents of nearly $110 per square foot.

“39 Lewis Street’s 100-percent occupancy, coupled with an extremely strong Greenwich CBD market, provides a stable in-place net operating income, albeit at below market rents, creating an optimal environment for U Park to grow rental revenue in the future,” CBRE Senior Vice President Steven Bardsley said in a statement.

The price equates to a cap rate of 6.7 percent, according to CBRE.