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| Colin Couch |
The
industrial distribution facility spans two buildings, totals 60,353 square
feet, and is leased to four tenants. Stan Johnson Company’s Colin Couch
represented the seller, The Marsilio Group.
The asset was purchased by a private 1031 exchange
investor from New York who was represented by Dave Richard of Colliers.
The facility traded for approximately $6.1 million, reflecting a 6.83 percent
cap rate.
“We were able to generate multiple offers and facilitated a
competitive bidding environment,” said Couch, Associate Director in Stan
Johnson Company’s Atlanta, Georgia office.
“Over half of the two-building facility is leased to
FedEx Express – an essential logistics provider that has proven resistant to
recession and other COVID-19 related volatility.
 |
| David (Dave) Richard |
"The remaining square footage is leased to a diverse mix of tenants spanning the electrical supply, moving and storage, and healthcare industries.”
The property is located in an opportunity zone and features prime industrial real estate directly along the Long Island Sound.
The facility
is less than one hour from New York City and is strategically located next to
Sikorsky Memorial Airport, a FedEx cargo servicer.
Additionally, the site provides convenient access to
Interstate 95, also known as the Connecticut Turnpike. Originally built in 1952
on 3.84 acres, the property has since been renovated.
“The cap rate we were able to achieve emphasizes the
strength we continue to see in the industrial sector of the net lease market,”
added Couch.
CONTACT:
David
Ebeling
Ebeling Communications
(949) 278-7
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