NEW JERSEY—Kleban Darien LLC has acquired 987 Boston Post Road from Brooks Darien LLC for $7.5 million. The Cushman & Wakefield team, including Al Mirin and Kate Schwartz of the commercial real estate services firm’s Stamford, Conn. office, and metropolitan area capital markets group head Andrew Merin, based in East Rutherford, N.J., orchestrated the deal.
The property is currently fully leased to Brooks Brothers.
Constructed in 2008, 987 Boston Post Road is comprised of two stories. The property is located next to a Metro-North train station. Darien is located approximately 38 miles from New York City.
“Huge demand and lack of product in this desirable submarket are driving up prices for retail investment properties,” Merin added. “This sale bears that out – we achieved solid pricing considering the ground lease scenario. The sale was under contract with a nonrefundable deposit less than 90 days from when we went to market. Its execution moved quickly and seamlessly through a solid team effort between our Stamford and East Rutherford offices.”