New Haven Group & Press Cuozzo Closes $ 3,775,000 Industrial Property in North Haven, CT
North Haven, CT (PRWEB) August 29, 2005
An 80,000 square feet multi tenant industrial property located at 57 Dodge Avenue in North Haven, CT sold August 5, 2005 for $ 3,775,000. Steven Inglese of the New Haven Group marketed and sold the property on behalf of the seller, The Hurley Group. Ted Schaffer of Press/Cuozzo, represented the buyer, who was a New York based investor. The buyer, 57 Dodge LLC, purchased the property as part of a 1031 tax exchange.
The multi tenant facility located on 5.1 acres is located in the Wharton Brook Industrial Park near the Wallingford/North Haven town line. The property was fully leased at the time of sale with the anchor tenant, North Fork Bank, occupying 60% of the facility on a long term lease. Ulbrich Steel and Jet Process were the two other tenants in the building. Uses in the property include storage, light manufacturing and office.
The building was built in 1965 and added onto in 1974. The building was originally used by a single tenant for a manufacturing use. Like many manufacturing buildings in the region, this property was reconfigured to meet the demand in the market, which is away from manufacturing, and is primarily for warehouse and storage use. Included in the total square footage of the building is a 20,000 square foot mezzanine.
The New Haven Group is a commercial real estate service firm focused on the sale of income producing property throughout Connecticut.
Contact:
Steven Inglese
203-773-3060
ski@thenewhavengroup.com
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