We’re excited to share the latest milestone for V20 Group: the successful sale of 550 West Avenue in Stamford, CT, to 550 West Avenue LLC, an affiliate of Jornik Manufacturing.
This 55,000-square-foot shallow bay industrial property, which we acquired in 2022 as a vacant asset, has been fully transformed under our ownership. Following a comprehensive renovation completed in 2023, the building achieved full occupancy with four tenants in a highly competitive market—a testament to our focus on value creation and strategic redevelopment.
Here are some of our highlights from this successful project:
- Strategic acquisition and renovation to reposition the property.
- Full lease-up in a strong Stamford industrial market.
- A successful sale reflecting significant value creation.
“This transaction underscores our commitment to optimizing opportunities in the industrial real estate sector,” said Joe Vaccaro, President of The V20 Group.
The sale of 550 West Avenue builds on our continued momentum in Stamford, aligning with recent acquisitions at 120 Hamilton Avenue and 699 Canal Street. By identifying underperforming assets and unlocking their potential, we’re driving both market growth and community revitalization.
We look forward to continuing to bring properties to their highest and best uses while delivering strong results for tenants, investors, and stakeholders.
