550 West Avenue, Stamford CT
The V20 Group Sells 550 West Avenue in Stamford, CT to 550 West Avenue LLC
We are very pleased with the outcome of this sale— Joe Vaccaro, President of The V20 Group
STAMFORD, CT, CT, UNITED STATES, December 19, 2024 /
EINPresswire.com/ -- The
V20 Group has successfully completed the sale of 550 West Avenue in Stamford, Connecticut, to an affiliate of Jornik Manufacturing. The property, a 55,000 square foot shallow bay industrial building, is 100% leased at the time of sale to four tenants, reflecting the successful leasing and stabilization of the asset under The V20 Group's ownership.
The V20 Group acquired the property in 2022, when it was vacant, and undertook a comprehensive renovation to reposition and modernize the space. The renovation, which was completed in 2023, enhanced the building’s appeal to potential tenants, allowing The V20 Group to fully lease the property in a competitive Stamford market.
“We are very pleased with the outcome of this sale,” said Joe Vaccaro, President of The V20 Group. “By investing in the property and strategically enhancing its appeal, we were able to create significant value, attract tenants, and ultimately harness our return. This transaction reflects our commitment to identifying and optimizing opportunities in the industrial real estate sector.”
The sale of 550 West Avenue marks another successful milestone in The V20 Group’s portfolio of real estate investments. The V20 Group is continuing to repurpose out of favor properties in Stamford. This strategy fits with V20’s last two acquisitions in that last few months with purchases at 120 Hamilton Avenue and 699 Canal St. With a focus on value creation and strategic redevelopment, The V20 Group continues to strengthen its position in the Stamford real estate market.
About V20 Group
V20 Group is known for its strategic and sometimes contrarian investments, developing commercial real estate properties and unlocking value while bringing the properties to their highest and best uses. V20 Group’s portfolio includes industrial properties, mixed-use properties, and office and continues to expand into the retail sector.
For more information about this acquisition or to inquire about leasing opportunities, please contact: joev@v20group.com
Gregory Soltesz
Noble House Media
+1 203-903-1225
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn