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August 15, 2024

Retail property in Stamford’s Harbor Point redevelopment sold for $23M

Contributed The former Fairway space in Stamford
By Hanna Snyder Gambini

The former Fairway Market space in Stamford’s Harbor Point redevelopment area has been sold for more than $23 million.

The 86,000-square-foot retail property, at 699 Canal St., sits in the Harbor Point neighborhood of Stamford, a major mixed-use redevelopment site along the city’s waterfront.

LoanCore Capital, as LCC Canal Street LLC, sold the property to Darien-based commercial real estate investor and developer V20 Group for $23.25 million, in a deal recorded July 30, according to city land records.

Westport-based commercial real estate brokerage firm Charter Realty served as the broker for both the seller and the buyer in the deal. Charter Realty has also been retained by V20 to provide leasing services for the building, which is currently vacant since Fairway moved out prior to the sale. Charter specializes in leasing retail properties, mixed-use developments and national retail rollouts.
 
The retail building has nearly 67,000 square feet of ground-floor space with an almost 19,500-square-foot mezzanine, Charter representatives said. The building could be subdivided for multiple smaller tenants.

The Harbor Point Development area, located between the city’s downtown and waterfront districts, currently has more than 4,400 multifamily units, with another 657 units under construction and 500 more planned, according to Charter.

Dan Zelson, principal of Charter Realty, said “there is a significant void in Stamford for several sizable uses including grocery, and this box represents one of the only places to house large retail in the city.”
 
The property is located just off of I-95 and two blocks from the Stamford train station.


 

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