West Broad Street Property Owner LLC Acquires Two Industrial Properties In Stratford, CT For $7.25M

Two adjacent properties at 1255 and 1297 West Broad St., located next to Dunkin and adjacent to I-95, were sold for a total price of $7.25 million to West Broad Street Property Owner LLC. The buyer, West Broad Street Property Owner LLC, plans to develop the 14-acre land assemblage into a one-story industrial warehouse. The warehouse will have 38 loading docks, two drive-in doors, a ceiling height of 36-39 feet, and 232 parking spaces. The development is being led by GFI Partners, a Boston-based real estate developer, operator, and investment manager. The new warehouse at 1265 West Broad St. is expected to be completed in the second quarter of 2024.

Summary of transaction details:

• Property Type: Industrial
• Sale Price: $7,250,000
• Square Footage: 231,000
• Price per Square Foot: $31
• Address: 1255 & 1297 West Broad St, Stratford, CT
• Market: Stratford, CT
• Buyer: West Broad Street Property Owner LLC
• Broker: Jon Angel - Angel Commercial, LLC

GFI Partners is overseeing the development of the industrial warehouse on the 14-acre land assemblage. The warehouse will provide modern amenities, including 38 loading docks, two drive-in doors, high ceilings, and ample parking. The buyer, West Broad Street Property Owner LLC, aims to capitalize on the strategic location next to Dunkin and adjacent to I-95. With the expertise of Jon Angel from Angel Commercial, LLC acting as the broker, the transaction was successfully facilitated.