Business Services Industry
Norwalk Mall & Tower sold
Real Estate Weekly, August 25, 1993
The Norwalk Mall & Tower, a 122,000-square-foot mixed-use complex at the intersection of Belden Avenue and Cross Street in Norwalk, Connecticut, was purchased by Ritz Realty Corp., a New York-based investment group for $2.6 million.
James Fagan and John Nussbaum of CB Commercial Real Estate Group, Inc. represented the seller, Superior Bank, FSB of Chicago. Jeffrey Dunne of CB Commercial represented the buyer in the all cash transaction.
The Norwalk Mall & Tower, situated on 5.9 acres, consists of 82,800 square feet of retail space and 39,200 square feet of office space. Also included in the mixed-use complex is a 260 space parking structure. The mall's largest tenant is Pathmark. Among the office tenants is the Internal Revenue Service.
According to Fagan of CB Commercial, the Mall & Tower carried a mortgage in excess of $7 million and was on the market for more than one year.
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