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Connecticut Joint Venture Acquires 605,502 SF Mixed-Use Property In Windsor For $9M

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SOLD
$9,000,000
Matthew (Matt) Torrance
+ 5

Connecticut

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SOLD

Connecticut Joint Venture Acquires 605,502 SF Mixed-Use Property In Windsor For $9M

Mixed-use605,502 SF
Sold
Matthew (Matt) Torrance
+ 5
Contact now

Summary

Asset Type:Mixed-use
Price Per Square Foot:$14
Total Square Footage:605502 SF
Transaction Type:Sale

The $9 million sale of 175 Addison Road in Windsor, CT has been facilitated by Cushman & Wakefield. The property, which spans 605,502 square feet, is a mixed-use asset that comprises industrial/research and development and office spaces. Located on 78.6 acres, the property offers a wide range of opportunities for potential buyers.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $9,000,000
  • Address: 175 Addison Road
  • Market: Windsor, CT
  • Square Footage: 605,502

The joint venture between Hollister & Moore and the New Haven Group, both Connecticut-based commercial real estate professionals, emerged as the buyers of 175 Addison Road. Throughout the transaction, they were represented by a team of brokers from Cushman & Wakefield, including Matt Torrance, Joel Grieco, Damon Bowers, Al Mirin, Kate Schwartz, Sean Duffy, and Timothy D’Addabbo. This collaboration demonstrates the expertise and professionalism of all parties involved, ensuring a smooth and successful transaction.

Players

Al Mirin
4 deals$64.2M volume
BROKER

Matthew (Matt) Torrance
Cushman & Wakefield
2 deals$21.2M volume(203) 326-5838
BROKER


1 deal$9M volume
BROKER

Kate Schwartz
Cushman & Wakefield
2 deals$21.2M volume(203) 984-9718
BROKER

2 deals$9M volume
BROKER

1 deal$9M volume
BROKER

1 deal$9M volume
BROKER

Details

SOLD
IMAGE: Joel Grieco, Sean Duffy, Matt Torrance, Timothy D’Addabbo, Kate Schwartz, Al Mirin & Damon Bowers DATE: 07/21/2023 ADDRESS: 175 Addison Road MARKET: Windsor, CT ASSET TYPE: Mixed-Use ~ ACRES: 78.6 BUYER: Hollister & Moore - Bradford Wainman & New Haven Group - Steven Inglese BROKERS: Matt Torrance, Joel Grieco, Damon Bowers, Al Mirin, Kate Schwartz, Sean Duffy & Timothy D’Addabbo - Cushman & Wakefield SALE PRICE: $9,000,000 SF: 605,502 ~ PPSF: $15 NOTE: Cushman & Wakefield facilitated the $9 million sale of 175 Addison, a 605,502 square foot industrial/research and development and office property in Windsor, CT. The buyers, a joint venture between Hollister & Moore and the New Haven Group, both Connecticut-based commercial real estate professionals, were represented by Cushman & Wakefield.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10