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Avison Young Arranges Fairfield Industrial Sale
Avison Young’s Fairfield/Westchester office arranged the sale of 1 Parrot Dr. in Shelton, CT. The 102,000-square-foot flex/industrial property traded for $9 million.
Principals Sean Cahill and Will Suarez represented the seller, Cambridge Hanover. They also procured the buyer, DG ONE PARROTT SHELTON, LLC, which is managed by David A. Waldman, president & founder of David Adam Realty.
“This sale represents the overall health of the industrial market where strong tenant demand continues to drive investor interest in Fairfield County,” said Cahill. “Although we sold to a local buyer, inquiries from out of state investors have more than doubled in recent months after we launched marketing.”
Suarez added, “Having repositioned 1 Parrott Dr. into a best-in-class flex/industrial asset, our client, Cambridge Hanover, executed their exit strategy by selling a well-occupied property with additional upside to the investors at David Adam Realty. They are well-positioned to create additional value in a high-demand marketplace.”
- ◦Sale/Acquisition
