Keefe and Cordido of HK Group finalize Sale of 825,000 SF Warehouse/Distribution Center in North Haven, CT
HK Group is pleased to announce that Matthew F. Keefe, President and Ricardo E. Cordido, Assistant Vice President of HK Group were the sole brokers in the sale of The North Haven Distribution Center located at 1 N. Frontage Road, North Haven, CT for a sale price of $57,650,000 . The seller was North Haven Inc, LLC from New York and the buyer was STAG North Haven, LLC from Boston, MA.
The 63.61 Acre site is improved with two buildings totaling 825,000 square feet which are currently leased by Bozzuto’s Inc and New Breed Logistics, two multibillion dollar, credit companies. The property consist of a large refrigerated produce building with 71 dock height doors and a grocery warehouse building with 108 dock height doors. This sale represents the increasing interest of investors in the distribution market and reflects the continued improvement in both the local economy and the industrial/warehouse market in general.
Fellah of HK Group sells 370 Westport Avenue
The 4,413 SF two-story building sits on a 0.35 acre lot zoned Business 2: the only tenant is Bankwell, with their newly built drive-thru branch.
Bankwell Financial Group is publicly traded on NASDAQ under the ticker BWFG.
The seller was 370 Westport Avenue, LLC, the buyer was The Beach House, LLC. The transaction was part of a 1031 Exchange.
Attorney Steven Siegelaub of Berkowitz, Trager & Trager in Westport represented the seller and attorney Steven Baron in Stamford represented the buyer.
Given the strong credit of the tenant and their lease term, this $668 per square foot sale testifies to the strong interest in high-quality real estate investments located in Fairfield County.
Fellah of HK Group was the sole broker involved in this real estate transaction.
HK Group is a full service commercial real estate firm started in 1988. It has grown steadily from a local Westport business to one which today encompasses an operating area of New York, Connecticut and New Jersey. The firm follows client led transactions into other states. It has expanded its vision from local leasing to larger and more sophisticated leasing transactions, investment sales transactions, national client retail leasing, and consulting and brokerage services for the health care and hospitality industries. For more information, please visit their website at www.hkgrp.com.