DANBURY, CT—Lee Farm Partners LLC, a joint venture between Summit Development and The Grossman Companies, has paid $16.9 million to acquire Lee Farm Corporate Park in Danbury, Conn.
CBRE’s Jeffrey Dunne, Steven Bardsley and Patrick Carino represented the ownership in the sale of the property and also procured the purchaser. The acquisition marks the first for The Grossman Companies in Fairfield County.
Lee Farm contains approximately 216,000 sq. ft. of office space and includes such tenants as GE Capital, IMS Health and PepsiCo, among others. Amenities at the property include a cafeteria, conference facility and fitness center.
Located at the junction of Interstate 84 and Route 7, Lee Farm is across from the Danbury Fair Mall, Danbury Airport and the newly developed Whole Foods grocery store.
“Lee Farm provides Summit and The Grossman Companies with an ideal property to capture tenants from Southern Fairfield and Westchester counties,” said Dunne. “Summit’s local operating experience should prove invaluable in the lease up of the available space at Lee Farm.”