Simone Development Snags CT Warehouse/Office Asset

The 118,500-square-foot property at 316 Courtland Ave. currently has 65,638 square feet of warehouse and R&D, as well as 12,768 square feet of office space available for lease.
316 Courtland Ave., Stamford, Conn.

Simone Development Cos. has acquired 316 Courtland Ave., a warehouse/R&D and office asset in Stamford, Conn.

The 118,500-square-foot property currently has 78,000 square feet available for lease, breaking up into 65,638 square feet of warehouse/R&D and 12,768 square feet of office. The asset is within close proximity to Interstate 95 and the Glenbrook train station. 316 Courtland Ave. offers a 1.1-acre outdoor storage space, 12- to 17-foot ceiling heights, 243 parking spaces, clear span warehouse space, an elevator to the second floor of the office space and ample power.

Growing Portfolio

“This acquisition continues the expansion of Simone Development’s tri-state industrial portfolio. Over past few months we have acquired a total of 285,500 square feet of industrial properties in five transactions,” said James MacDonald, vice president of Leasing for Simone Development, in prepared remarks.

Last July, the company entered the New Jersey market by purchasing the 62,000-square-foot Prospect Plaza in Hackensack. The company plans to implement extensive upgrades to the medical office building, which was acquired in a bank auction and was 52 percent occupied at the time.

Image courtesy of Simone Development Cos.