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CBRE Closes Sale of Shallow-Bay Industrial in New Haven County
The CBRE team of Jeff Dunne, Steve Bardsley and Travis Langer in collaboration with Matthew O’Hare of CBRE’s New Haven office completed the $10-million sale of 260-284 Quarry Rd. in Milford, CT. CBRE represented the seller, LM Quarry Road II, LLC, an entity managed by LM Real Estate Partners. CBRE also procured the buyer, Albany Road Strategic Opportunity Fund LLC, an entity managed by Albany Road Real Estate Partners.
260-284 Quarry Rd. is a two-building shallow-bay industrial complex totaling 85,821 square feet and situated on 7.74 acres. It is 100% leased to a diverse tenant roster at below-market rental rates. The property is located proximate to I-95 in New Haven County, which has some of the strongest industrial market fundamentals in Connecticut, according to CBRE.
Bardsley said, “260-284 Quarry Rd. is well-positioned in this historically strong market to maintain high occupancy and create upside due to rising rental rates.”
- ◦Sale/Acquisition