Marcus Partners Fund I acquires 73,000 SF Mixed Use property in Norwalk, CT

Marcus Partners is pleased to announce the acquisition of the West Avenue portfolio in Norwalk, CT.

Marcus Partners and Seligson Properties, a Norwalk-based real estate developer and operator, have formed a venture to recapitalize three existing buildings located in the heart of Norwalk, Connecticut.

The buildings, addressed as 520, 605 and 698 West Avenue, total more than 73,000 square feet of retail, office, and medical space. Existing tenants include Norwalk Hospital, Scott Spector Eye Care, Connecticut Community Bank, and Lacrosse Unlimited.

The venture has already commenced making substantial capital improvements to the buildings. At 520 West Avenue, Norwalk Hospital has expanded to approximately 22,000sf, and is currently undertaking a considerable interior renovation of the space.

Seligson Properties will continue to manage the properties on behalf of the venture.

June 2011