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Former Higgins Group Real Estate site downtown on the market

Published 5:50 pm, Saturday, December 29, 2012
  • A 3,731-square-foot commercial space in a highly-visible location at 1530 Post Road was recently vacated by Higgins Group Real Estate's Fairfield office. The firm has not moved the office far, though, as it relocated its Fairfield office across the street into a roughly 4,500-square-foot on the level above Fairfield University Bookstore. Photo: Michael C. Juliano/Staff Photo
    A 3,731-square-foot commercial space in a highly-visible location at 1530 Post Road was recently vacated by Higgins Group Real Estate's Fairfield office. The firm has not moved the office far, though, as it relocated its Fairfield office across the street into a roughly 4,500-square-foot on the level above Fairfield University Bookstore. Photo: Michael C. Juliano/Staff Photo

 

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A highly visible commercial space in downtown Fairfield, formerly home to Higgins Group Real Estate, has recently come onto the market.

The residential real estate firm occupied the space on the corner of Post Road and Miller Street for the past 8 1/2 years, said Rick Higgins, founder and chairman. It recently moved to a larger venue across the street on the second floor of Fairfield Center, 1499 Post Road, to accommodate a growing staff, he said.

"We're expanding a lot and we're getting more people here," said Higgins, a former real estate lawyer from Saddle River, N.J., who started the firm in the 1990s. "We're expecting a big year this year, so we need to think long-term."

Higgins Group's former space at 1530 Post Road has been "family-owned" by DM Acquisitions LLC for over four decades, said Tommy Febbraio, owner of the Febbraio Group of Coldwell Banker Commercial Real Estate. Febbraio is representing DM Acquisitions in the transaction.

The building, vacant since Dec. 1, is an "ideal retail location," Febbraio said.

"It encompasses all of the elements most national and regional companies are searching for -- corner and light location, high visibility, downtown area, loads of light and prime window visibility, location versus destination, 12-foot ceiling and more and a large basement for storage," he said.

The space covers 3,731 square feet and also includes a 3,731-square-foot basement, almost half of which is finished, according to records kept by Fairfield's tax assessor's office. It has an appraised value of $1,796,700 and an assessed value of $1,257,690.

Febbraio said Higgins entered into an eight-year lease effective Nov. 1 for the new 4,500-square-foot space with Kleban Holdings Co., owner of the center, which also houses Fairfield University on the first floor and Merrill Lynch on the second.

"I think it's going to be our permanent home from here on in," said Higgins, who lives in Fairfield's Greenfield Hill section. "I can't imagine a place any nicer."

Higgins said his lease for the Fairfield office's old space ended Nov. 30, and the office was fully in its new home by Dec. 1 after a monthlong move.

The Fairfield office has between 75 and 100 employees, while the entire company employs about 400 workers, Higgins said.

The firm has 12 other offices throughout Fairfield County, according to its website.

mjuliano@bcnnew.com; 203-255-4561, ext. 112; twitter.com/mjulianoadv