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PEOPLE’S UNITED BANK SELLS NINE-PROPERTY DOWNTOWN PORTFOLIO

BRIDGEPORT, CONN. — People’s United Bank has disposed of a nine-property portfolio covering approximately two blocks of downtown Bridgeport. The portfolio totals 255,548 square feet of commercial space, and includes 167, 177, 189 and 211 State St.; 779, 815, 855 and 899 Main St.; and 830/880 Broad St. The bank’s headquarters building, located within the portfolio’s area at 850 Main St., was not included in the sale. The portfolio was acquired by Main State Ventures, a partnership between Norwalk, Conn.-based companies Forstone Capital and Spinnaker Real Estate Partners. The acquisition brings Forstone’s downtown Bridgeport holdings to approximately 425,000 square feet of commercial space. Jeffrey Dunne and Steven Bardsley of CB Richard Ellis represented the seller. Immediate plans for the portfolio were not disclosed.

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