Greyhill Group Acquires Industrial Property In Milford For $7M With Tenant Tesla

Greyhill Group has acquired an industrial property located at 881 Boston Post Road in Milford, CT. The property spans 70,000 square feet and was sold for a price of $7,000,000, resulting in a price per square foot of $100. The buyer, Greyhill Group, is represented by Moshe Bloorian, while the seller, GJS Properties LLC, is represented by Julie Scap. The deal was brokered by Jon Angel of Angel Commercial.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $7,000,000
• Date: 12/27/2021
• Address: 881 Boston Post Road, Milford, CT
• Market: Milford, CT

Tesla, Inc. is the tenant of this industrial building, occupying 40% of the space. The 20+ foot ceiling industrial space serves as a service center and showroom for the entirety of Connecticut. This strategic move allows Tesla to lease its electric vehicles from its Milford location, establishing a presence in Connecticut's lucrative market.

NOTE: Greyhill Group is a commercial real estate company specializing in the acquisition and repositioning of industrial and multifamily assets in the tri-state area and nationwide. For any opportunities, you can contact Greyhill Group at [email protected] or [email protected].