Connecticut deal tops $80M

Buyer adds to nationwide office holdings

The sale of the Danbury Corporate Center, a 1 million-square-foot office complex in Danbury, Conn., has closed for approximately $80.8 million. A wholly owned subsidiary of Grubb & Ellis Realty Advisors Inc. purchased the class A property from an unidentified seller. The acquisition of Danbury Corporate Center follows the subsidiary's earlier 2007 acquisitions pursuant to its warehousing strategy of the 325,000-square-foot Abrams Centre in Dallas for $20 million and 6400 Shafer, an 180,000-square-foot office suburban Chicago office building, for $21.5 million. The company's current intention is to hold the properties for future sale to Grubb & Ellis Realty Advisors, according to a press statement. ...