V20 Group Sells 550 West Avenue Property In Stamford
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.
UConn’s HREI Program Invests in V20 Group’s Hamilton Ave Property
HREI: Building the Future of Real Estate Leadership
Launched in August 2024 with generous support through the UConn Foundation, the Hillside Real Estate Investors program is a groundbreaking initiative that empowers UConn undergraduate students to source, evaluate, and recommend real estate investments.
Students participating in the program gain invaluable, hands-on experience in real estate investment, working alongside industry leaders and mentors to make strategic decisions. With a focus on value-add and opportunistic investments, HREI prepares students to succeed in real-world scenarios while creating long-term benefits for the program’s fund. HREI recently announced it’s first-ever limited partnership (L.P.) investment with V20 Group’s industrial property in Stamford, CT.
120 Hamilton Avenue: Strategic Investment for Future Growth
The 7-acre industrial-zoned property at 120 Hamilton Avenue, previously home to WWE’s film studio, represents a unique opportunity to address Fairfield County’s shortage of high-bay industrial space. V20 Group’s vision for this site includes the development of a high-bay warehouse, equipped with modern features designed for single or multi-tenant use.
New Tenants at 9 Old Kings Highway South Office Building
We’re excited to announce that two esteemed companies have recently leased space at 9 Old Kings Highway South: Westport Capital and CF Private Equity. Their arrival is a testament to the growing demand for high-quality office spaces in our portfolio.
Defying Office Space Trends
Our Class A office building in downtown Darien has been making waves since its acquisition in September 2022. This 71,000-square-foot property, strategically located within walking distance of the Metro North train station and less than a block from Interstate 95, continues to stand out as a premier office space and defy bad office trends.
Key Improvements and Enhancements
Upon acquiring the building, V20 Group embarked on an ambitious capital improvement plan aimed at elevating the property’s value and appeal. The enhancements included:
- Façade Upgrades: We replaced all the windows, giving the building a fresh, modern look that enhances its curb appeal.
- Lobby and Entrance Renovations: The building’s lobby and entrance have been completely renovated to offer a welcoming and professional environment for tenants and visitors.
- Modernization of Tenant Spaces: Significant tenant improvement packages have been implemented to upgrade and customize vacant suites, ensuring they meet the highest standards of modern office requirements.
Unique Features That Set Us Apart
Our Darien office building offers several unique features that make it a standout choice for businesses:
- Full-Time Doorman: The building is the only office property in Darien with a full-time doorman, providing an added layer of security and convenience.
- Backup Generator: This property includes a generator that ensures an uninterrupted power supply during severe weather or emergencies, adding to the building’s reliability.
Looking Ahead
As we continue to enhance our properties and meet the needs of our tenants, V20 Group remains committed to providing exceptional spaces that support business growth and success. The recent additions of Westport Capital and CF Private Equity reflect our dedication to delivering quality and excellence.
We appreciate the continued support of our partners and tenants and look forward to more milestones and achievements in the coming months. For more information about our properties and leasing opportunities, please visit our website or contact us directly.