Sunday, February 17, 2013

FedEx Distribution Facility Sale in South Windsor, CT Brings $32.2 Million


  
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.

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.

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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