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NNN Pro Group - Marcus & Millichap Acquires FedEx Portfolio In Norwich, Mt Vernon, Warwick, Hartfield & North Haven For $18.15M

Property Image
SOLD
$18,150,000
Glen Kunofsky
Josh Kanter
+ 1

Connecticut

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Industrial204,579 SF
Sold 08/12/2020
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Property Image
SOLD

NNN Pro Group - Marcus & Millichap Acquires FedEx Portfolio In Norwich, Mt Vernon, Warwick, Hartfield & North Haven For $18.15M

3 Dominican Dr, Norwich, CT, USA

See Similar Deals
Industrial204,579 SF
Sold 08/12/2020
Glen Kunofsky
Josh Kanter
+ 1
Contact now

Summary

CONNECTICUT
Asset Type:Industrial
Price Per Square Foot:$88
Total Square Footage:204,579 SF
Transaction Type:Sale

The recently closed sale involved an industrial property portfolio located in Norwich, CT, Mt Vernon, NY, Warwick, RI, Hartfield, MA, and North Haven, CT. The portfolio consists of properties located at 3 Dominican Dr, 669 S Third Ave, 255 Metro Center Blvd, 174 West St, and 347 State St. The total square footage of the portfolio is 204,579, with an average price per square foot of $89. The portfolio spans across 14.52 acres, with an average price per acre of $1,250,000. The transaction was facilitated by brokers Glen Kunofsky, Cade Kearn, Josh Kanter, and Anthony D'Ambrosia from NNN Pro Group - Marcus & Millichap.

Summary of transaction details:

  • Property Type: Industrial
  • Sale Price: $18,150,000
  • Address: 3 Dominican Dr, 669 S Third Ave, 255 Metro Center Blvd, 174 West St, 347 State St
  • Market: Norwich, CT, Mt Vernon, NY, Warwick, RI, Hartfield, MA, and North Haven, CT

The deal was closed on 08/12/2021, with a sale price of $18,150,000. The involved brokers from NNN Pro Group - Marcus & Millichap were Glen Kunofsky, Cade Kearn, Josh Kanter, and Anthony D'Ambrosia. They successfully represented the parties in the transaction, showcasing their expertise and dedication in closing the deal.

Players

Josh Kanter
100 deals$626.3M volume
BROKER

Anthony D'Ambrosia
Surmount
105 deals$731.2M volume
BROKER

Marcus & Millichap
BROKERAGE

Details

SOLD
IMAGE: Glen Kunofsky, Anthony D'Ambrosia, Josh Kanter & Cade Kearn DATE: 08/12/2021 ADDRESS: FedEx Portfolio - 3 Dominican Dr, 669 S Third Ave, 255 Metro Center Blvd, 174 West St, 347 State St, MARKET: Norwich, CT, Mt Vernon, NY, Warwick, RI, Hartfield, MA, & North Haven, CT ASSET TYPE: Industrial BROKERS: Glen Kunofsky, Cade Kearn, Josh Kanter, & Anthony D'Ambrosia - NNN Pro Group - Marcus & Millichap SALE PRICE: $18,150,000 SF: 204,579 ~ PPSF: $89 ACRES: 14.52 ~ PPA: $1,250,000

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$64,483.12
Cash-on-Cash Return-1.27%
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