The Hampshire Company, a full service, private real estate investment firm with assets valued at more than $2.3 billion, has sold a portfolio of three industrial properties to a private buyer on September 6, 2017.
The industrial complex located on Kripes Road in East Granby, CT has sold for $3,879,680. The transaction occurred on September 7, 2017 after nearly a year of being available on-market. Based on the stated $326,000 NOI in the initial listing and closed sale price, the property sold approximately at an 8.4% capitalization rate.
The Hartford County Flex/Industrial Market is comprised of approximately 114,400,000 square feet of inventory. The 3rd Quarter 2017 vacancy rate in Hartford County is 5.0%, 190 basis points lower than the 3rd Quarter 2016 rate, and 261 basis points lower than the ten year average.