Brooks Brothers Darien Sell for $7.6M

Kleban Properties has purchased the Brooks Brothers high-end retail store for $773 per square foot. The 9,837 S.F. building is located at 987 Boston Post Road along Darien’s downtown shopping district. The investment has 17 years remaining on a 20 year lease to Brooks Brothers. The building is situated on a 0.13 acre parcel of land which is subject to a 50 year ground lease (47 years remaining). The purchase price represents a 7.3% cap rate. Al Mirin, Senior Director at Cushman & Wakefield represented the seller in the transaction.