NEW HAVEN, CT , Nov. 3, 2008 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 308.71-acre development site in Cornwall (top right map) and Canaan (middle left map) in Litchfield County.The sales price was $3.4 million.
Laurie Ann Drinkwater and Seth Richard, investment specialists in the firm’s New Haven office, together with regional manager Edward Jordan (bottom left photo) represented the seller, a Stamford, Conn.-based investor.
Marcus & Millichap also procured the buyer, the State of Connecticut and the Cornwall Conservation Trust.
“This offering was an excellent opportunity for the State of Connecticut and its partners to acquire 300-plus acres zoned for residential development with frontage along the Housatonic River in historic Litchfield County, midway between New York and Boston,” says Drinkwater. “This was a unique collaboration between public and private ventures, including local congressmen, land preservationists, private investors benefiting the residents of Connecticut.”
The State of Connecticut purchased the land with funds from the Federal Highlands Funds and Natural Heritage Trust, a state program that acquires land to expand the state’s parks and forests. 
Located in the towns of Cornwall and Canaan, a portion of the property runs along the Housatonic River.
Located in the towns of Cornwall and Canaan, a portion of the property runs along the Housatonic River.
The Cornwall parcel consists of 229 acres and is accessed from River Road, a dirt road along the banks of the Housatonic River and railroad tracks.
The Canaan parcel consists of 79-acres and is accessed from both Music Mountain and Lime Rock Roads, located in the village of Falls Village.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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