Blackshaw Chriscott LLC has acquired the mixed-use retail and residential property at 13 Grove Street in Darien, CT from Day Street Development LLC for $4,900,000. The sale, which was finalized on 11/15/2016, was brokered by the Fairfield/Westchester office of Avison Young. Regarded as one of the world’s fastest-growing commercial real estate services firm, Avison Young will serve as property manager on behalf of the new ownership.
Allison Luisi, an Associate in the Capital Markets Group of Avison Young, is confident that the acquisition will serve as a strong portfolio asset and prosperous investment vehicle: “The property, completed in 2014, provides the diversification of a fully-leased, modern, mixed-use building combining residential and retail in one of Fairfield County’s most desirable locations,” said Ms. Luisi.
The location and current use of the property makes it a top choice not only for local Darien shoppers, but those looking for premier apartment space in Southern Fairfield County. The 5,726 square foot buildings boasts three rental apartments on the 2nd floor that feature abundant lighting, high-end finishes, and balconies overlooking the bustling streets of Downtown Darien. The local Darien Train Station is a short 5-minute walk away, providing added value to prospective tenants needing to commute to NYC and abroad.
The ground floor retail space consists of two separate units currently being leased to Darien Butcher Shop and Le Boudoir, a luxury “blow dry and beauty bar.” Blackshaw Chriscott LLC hopes that this combination of high-end apartment space and strong retail tenants will solidify 13 Grove Street as a desirable stop for Darien residents for years to come.