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Acquisition of Former Hamlet Site by Spinnaker Real Estate Partners

Sector: Road • Location: Westport, Connecticut, United States

Source: Westport Journal

Project
Acquired

Spinnaker Real Estate Partners of Norwalk purchased two properties, 606 Riverside Ave. and 96 Franklin St., in Westport, comprising more than half of the 3.4-acre site originally proposed for the Hamlet at Saugatuck mixed-use development. The Riverside Avenue property includes three buildings and was acquired for $12,795,000, while the Franklin Street parking lot with 60 spaces was acquired for $3

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The project “Acquisition of Former Hamlet Site by Spinnaker Real Estate Partners” is an infrastructure initiative in the Road sector, located in Westport, Connecticut, United States. Taiyo aggregates data on it from Westport Journal.

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Description

Description

Spinnaker Real Estate Partners of Norwalk purchased two properties, 606 Riverside Ave. and 96 Franklin St., in Westport, comprising more than half of the 3.4-acre site originally proposed for the Hamlet at Saugatuck mixed-use development. The Riverside Avenue property includes three buildings and was acquired for $12,795,000, while the Franklin Street parking lot with 60 spaces was acquired for $3,250,000. The previous developer, Roan Development Ventures, had plans for a mixed-use development that faced local opposition and legal challenges, which have since been withdrawn. Spinnaker is a commercial real estate company with a track record of developments in Connecticut.

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