Fairfield-based Doyle Insurance has gone from tenants to property owners.
The insurance group purchased a two-story office building at 45 Sherman St. for $1,375,000, according to a press release from Fairfield-based real estate firm, Angel Commercial LLC, which represented the buyers.
The Doyle Insurance Group provides personalized insurance services for its clients, offering an array of property and liability insurance solutions.
The company will move from its 10 Sasco Hill Road location less than a mile away to the new office just off the Post Road. The office is also within walking distance of the Fairfield train station.
“Changing from a tenant to a property owner demonstrates the firm's commitment to being part of Fairfield’s vibrant business community,” said John Angel, president of Angel Commercial, in a press release.
The space offers more than 4,500 square feet along with a 1,217-square-foot cottage that also has an office room and residential features. Both the main building and the carriage building have been renovated in the past two years.
The insurance company is expected to occupy the front building following further modifications to the site, while it’s uncertain what they will use the carriage building for.
“It’s a spectacular area,” said Bruce Wettenstein of Westport-based Vidal/Wettenstein which was the listing broker for the sellers, Valor Investments LLC.
The previous owner operated a financial services business, according to Wettenstein.
“If you want to be in Fairfield and you want to be within walking distance to all the retail spots and Metro-North, it’s the right location,” he added.