6 months ago
East Haven, Connecticut - O,R&L Commercial, LLC in Branford, CT is pleased to announce that Frank Hird, SIOR has completed a Medical Office Building Investment Sale located at 317 Foxon Road in East Haven, CT. The property consisted of a Class “A” 24,272±SF Medical Office Building on 2.06 acres that was 100% leased at the time of the sale. The building is occupied with a mix of medical and standard office tenants including 203-Urgent Care Center d/b/a Docs Medical--a state of the art urgent care provider with ten locations in southern CT. Other tenants include: Ophthalmic Consultants of CT--a premier eye care practice with offices throughout CT, Nexgen--a software and technology company providing public safety solutions to clients in New England for over 20 years, Specialized Data--an award winning software development company serving the banking industry and MADD--the nation’s largest nonprofit working to keep our roads safe.
The building is served by natural gas heat, six 10-ton rooftop HVAC units with city water and sewer and has a 3-stop passenger elevator, full fire alarm system and electronic door access system. The grounds are nicely maintained with an inground sprinkler system and offers pylon/building signage and 105 parking spaces to its tenants. The location on Route 80 provides easy access to I-91 and is in close proximity to the I-95 interchange.
The property transferred for a Sold Price of $2,500,000 with an 8.5% Cap Rate. Frank Hird, SIOR of O,R&L Commercial represented the Seller – Five Dees LLC and also the Buyer – 317 Foxon Road LLC.
O,R&L Commercial, LLC with offices in Branford and Rocky Hill represents landlords, tenants, sellers and buyers in the office, retail, medical, multi-family, investment and industrial markets.
O,R&L Integrated Services is a full service real estate firm that specializes in Commercial Real Estate Brokerage, Commercial Construction, and Facility Management and Maintenance. For additional information on this sale or other transactions you may contact O,R&L Commercial at 203-488-1555 and for more information regarding O,R&L Commercial, visit online at www.orlcommercial.com.