241/249 Danbury Road sells for $8.5 million
The 241/249 Danbury Road property, as well as neighboring properties 16 and 22 Cricket Lane, have changed hands — to the tune of $8.5 million.
The six-plus-acre commercial space was sold by 241 Danbury Road Associates, LLC to CH Danbury Road Associates, LLC on June 21.
Formerly home to the global headquarters of HomeEquity, the site will house a state-of-the-art specialized medical center when New Canaan industrial real estate investment firm Cambridge Hanover renovates a 40,000-square-foot building on the property, as the firm announced in September 2015.
Vacant for more than 15 years, 241/249 Danbury Road sits across from town hall, and contains an office building, a conference center building, a support services building, and a caretaker’s residence.
The property is in a design retail business district, meaning it could potentially host retail stores and shops, personal services businesses, banks without drive-in facilities, general or medical offices, art galleries, adult day care, dry cleaners, and dance studios.
It became available for lease or sale in 2015 when a 20-year lease signed by the Stop & Shop company, which committed to a long-term lease of the property to prevent competitor Edwards Supermarkets from building on the land, expired.