Cushman & Wakefield Negotiates $7.2 Million Sale Of 1290 Summer Street In Stamford, CT

31 May, 2007, Stamford, CT

Cushman & Wakefield today announced the completion of the $7.2 million sale of 1290 Summer Street, a 42,000 square foot office building in Stamford, Conn. The building was sold by 1290 Summer Street Associates, an entity owned by Michael Vartuli, to Aegean LLC c/o Everest Partners of New York City.

Built in 1981, the five story building is 65% leased to a tenant roster of primarily medical offices. 1290 Summer Street is located within walking distance of downtown Stamford.

Tom O’Leary, senior director of Cushman & Wakefield of Connecticut represented the seller and procured the purchaser. Mr. O’Leary has also been reappointed as exclusive leasing agent for the new owner.

"The completion of this transaction demonstrates the strength and demand of properties within the Fairfield County office market,” said Mr. O’Leary. “The building was on the market for a short amount of time and generated significant response from the investment community.”

Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 201 offices in 55 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com.

Contact: Alison Miller
XM Communications
914-589-8561
amiller@xm-pr.com

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