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News

June 27, 2018

Ridgebury Corporate Center for Sale

West Fair Online
Phil Hall

Ridgebury Corporate Center, a 126,000-square-foot office building at 44 Old Ridgebury Road in Danbury, has been listed for sale.

According to the listing brokerage firm Cushman Wakefield, the three-story property is 92 percent leased and includes General Motors, Spectrum Brands, Crown World Mobility and Farmers Insurance among its 14 tenants. The property was built on an eight-acre site in 1988 and was originally fully occupied by General Electric Capital until 2009. Charlotte, North Carolina-based Allegiance Realty Corp. purchased the property in November 2010, and the office building underwent renovations in 2011 and 2017.

Although a listing price was not made public, the appraisal site PropertyShark estimated the property’s total market value at $8.5 million, with $6.22 million in land value and $2.27 million in building value.

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Information on this website does not constitute an offer to sell securities or interest in the Allegiance portfolio. Any future offer will be made only by the delivery to each prospective investor of a private placement memorandum providing a detailed description of investment.