Forstone Capital, LLC Announces Purchase in Darien, CT

April 22, 2011 - PRLog -- Brett Wilderman, Principal with New Canaan-based Forstone Capital, LLC announced the purchase of the 40,700 square foot office building in Darien, CT.  The three-story building was purchased in March from Hall Investments for $7.8M.

The building, located at 19 Old Kings Highway South, is one block from the Darien train station on the Metro-North Railroad New Haven Line and offers accessibility to Interstate 95 at exits 11 and 12, giving tenants convenient options for their daily commute.  

Forstone Capital
The recent purchase of 19 Old Kings Highway South marks the second major transaction for Forstone Capital within the last eight months. The first purchase occurred in August of 2010 for 65 Locust Avenue, a 27,000 square foot office building located in downtown New Canaan.  Forstone Capital is a boutique real estate investment firm that specializes in the acquisition and management of office, retail and multi-family properties within Fairfield County that are well positioned but offer value-creation opportunities. Forstone applies a hands-on management approach and makes improvements in efficiency and marketability to reposition these properties in the market. In addition to 19 Old Kings Highway South and 65 Locust Avenue, Forstone also owns and manages approximately 650,000 square feet of real estate in downtown Bridgeport, and is a key player in the downtown revitalization efforts.

Building Renovations
In announcing the purchase, Wilderman also announced improvements and renovations to the three-story building.  Renovations will concentrate on the entrance, atrium lobby, common areas, and restrooms.  According to Wilderman, prospective tenants will be presented with complete design options for office space.  Forstone has employed the services of Anne Bavier, of Bavier Design of Stamford, CT as the architect for the project. In regard to the design strategy, Bavier commented, “The new owners want to modernize the exterior, main lobby and common corridors. The aesthetic will be contemporary, sophisticated, state of the art and clean lined in design. We think the building is currently not realizing its full potential, but has good ‘bones’”. Bavier Design is a full-service Architectural and Design firm specializing in corporate design.  The firm is a WBE-certified organization and a member of the US Green Building Council.  “I am very excited about Bavier Design being retained for repositioning 19 Old Kings Highway South, because I am a life-long Darien resident and happy to be a part of the revitalization of Darien.” Forstone is in the process of hiring a third-party brokerage firm to lease available office spaces in the building.

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Forstone Capital, LLC is a boutique real estate investment firm providing a full range of commercial real estate services to corporate, institutional and selected individual clients. Since its inception, Forstone has grown into a highly respected real estate investment, management, and leasing organization. The firm's success is attributable to the selection of sound investment opportunities, strong technical knowledge and responsive personal service provided to clients. For additional information about Forstone Capital, please call 203-523-0130 or visit the website at http://www.forstonecapital.com