The expansive 915,000± square foot R&D complex at 5 Research Parkway in Wallingford sold recently for $5,000,000. Bristol-Myers Squibb, who first opened the facility over 30 years ago, sold the property to Massachusetts-based Calare Properties on February 13, 2018.
The following are a highlight of recent flex/industrial property sales in New Haven County in the 1st Quarter 2018. In 2017, the market saw a transfer of over 3,200,000 square feet of space exceeding a total dollar volume of $66,000,000.
The New Haven County Flex/Industrial Market is comprised of 76,450,000 square feet of inventory. The current 1st Quarter 2018 vacancy rate in New Haven County is 5.9%, 20 basis points higher than the 1st Quarter 2017, and 436 basis points lower than the ten year average.