Property: 33 Stiles Lane is a 175,000 square foot warehouse property located in North Haven, CT on 14 acres.
- Total Cost at Closing – $11,000,000
Strategy: Acquire a 100% leased warehouse building in prime CT location providing stable cash flow to investors
Opportunity / Highlights
- The New Haven Market benefits from excellent access to the region’s major distribution networks and excellent access to major highways
- The ceiling heights of up to 32 feet are rare in the southern CT industrial market and create a competitive leasing advantage against other industrial properties in the market
- Low supply for quality industrial assets in this sub-market coupled with the 175,000 SF of easily configurable layouts quickly attracted a new long-term tenant
- High asset quality provides for low capital expenditures and manageable leasing and tenant improvement costs