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Landlord Sells Westport Office Complex for $30M After Upgrades

A two-building Westport office complex that underwent a $5 million capital improvement program under the ownership of landlord Marcus Partners has been sold for $30 million.

The buyer is WFF Westport TT LLC, an affiliate of Waterway Capital. Under Marcus Partners’ ownership, the 83,964-square-foot complex at 8 and 10 Wright St. went from 58 to 94 percent leased. Tenants include UBS, Regus Corp., Energy Income Partners, Ameriprise Financial and Berkowitz, Trager & Trager.

Marcus Partners acquired the parcel in 2014 and launched a series of updates to lobbies and common areas, along with facade upgrades and a window replacement

Jeffrey Dunne, Steven Bardsley and Stuart MacKenzie of CBRE’s Institutional Properties Group represented the seller and procured the buyer.