Stamford Group Sells Danbury Office Park For $4 Million

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The property at 40-42 Old Ridgebury Road in Danbury was sold on Tuesday. It is known as Pegasus Park.
The property at 40-42 Old Ridgebury Road in Danbury was sold on Tuesday. It is known as Pegasus Park. Photo Credit: Contributed

STAMFORD, Conn. – The offices at 40-42 Old Ridgebury Road in Danbury, also known as Pegasus Park, have been sold for $4 million, Stamford-based Cushman & Wakefield announced. 

Cushman & Wakefield represented the seller, Torchlight Investors, in the sale to KS Partners, a New York-based developer and investor with offices in Woburn, Mass., and Rocky Hill. The property sold for $4 million or $31.75 per square foot.

The Cushman & Wakefield sales-disposition team was made up of Tom O’Leary, senior director; David Bernhaut, vice chairman; and Grace Braverman, associate director, from its Capital Markets Group.

Situated on more than 7 acres, the site includes two, three-story office buildings totaling nearly 126,000 square feet of space with a three-level parking facility. 

Pegasus Park is located less than a mile from Exit 2 off Interstate 84 in Danbury and is within minutes of Ridgefield, Route 7 and I-684 in Westchester County, N.Y. 

The building is home to notable tenants such as General Electric and Shemin Nurseries. The buildings are currently 60 percent leased with 72,340 square feet of space remaining. The park at 40-42 Old Ridgebury Road was recently renovated with new common areas, lobbies and bathrooms.

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