O,R&L Commercial Facilitates $3.3 Million Sale Of 57,000 Square Foot Industrial Building In Norwich

A 57,000-square-foot industrial building located at 243 Vergason Avenue Extension in Norwich, CT, has been sold for $3.3 million. The property encompasses 10 acres of land and is currently 53% leased, with American Systems Inc. occupying 30,000 square feet.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $3,300,000
• Sale Date: 10/15/2024
• Square Footage: 57,000
• Price Per Square Foot: $58
• Broker: William Braun - O,R&L Commercial

O,R&L Commercial was responsible for facilitating the sale of this industrial property, representing the interests involved in the transaction. The lease arrangement includes a significant tenant, American Systems Inc., which occupies a considerable portion of the total space.