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| FedEx Distribution Facility, South Windsor, CT |
SOUTH WINDSOR, CT – Marcus & Millichap Real Estate
Investment Services, the nation’s largest real estate investment services firm,
has arranged the sale of a 224,061-square foot FedEx distribution facility
in South Windsor, Conn. The $32,200,000 sales price equates to $144 per square
foot.
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| Laurie Ann Drinkwater |
Laurie
Ann “L.A.” Drinkwater, CCIM, an associate vice president investments in
Marcus & Millichap’s New Haven office, and Seth Richard, a director
of the firm’s National Retail Group in Manhattan, represented the buyer, a
regional private investor.
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| Seth Richard |
“The
property is located 10 miles from downtown Hartford near interstates 91 and
84,” says Drinkwater. “This location is
ideal for FedEx operations and bodes well for long-term tenancy.”
“FedEx
made a capital investment in the material handling systems in the facility in
excess of $20 million,” adds Richard. “The improvements, coupled with
attractive increases in the rental stream, contributed to making this an
excellent investment for our client.”
The facility was built in 2012 on 60.8 acres at 456 Sullivan
Ave. in South Windsor. The double-net lease expires in 2027.
Contact:
J.D. Parker,
Regional Manager
New Haven, CT
(203) 672-3300
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