CBRE announces $31.5 million sale of General Electric’s former headquarters

CBRE Group, Inc. announced today that Jeffrey Dunne, Robert Caruso, Gene Pride, Steve Bardsley and Colin Reilly of CBRE represented The General Electric Company in the sale of its former global headquarters located in Fairfield, CT to Sacred Heart University for $31,500,000.

The property is a unique piece of real estate consisting of 66.8 acres with three main buildings that were constructed from 1974 through 1984 that include a 28-room guest house & conference center with two office building containing 495,436 square feet of rentable space. Unique features of the asset include a helicopter landing pad, full commercial kitchen, fitness center, structured garage parking, redundant power and auditorium. The property was vacant at the time of the sale.

Dunne commented: “GE is an important client of CBRE and we are pleased to have represented this global business leader in the sale of their former headquarters to Sacred Heart University. The offering generated considerable interest as nearly 70 distinct buyer groups requested property information with 25 groups touring the asset. Ultimately, Sacred Heart demonstrated the strongest commitment to purchase the property. The University’s desire to further expand its presence in Fairfield while the property’s ability to provide both near term and long range planning flexibility make the acquisition a logical purchase.”

 

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