A pair of industrial buildings in Windsor, CT sold for $1.75M on August 9th, 2016 at a pro forma cap rate of 9.39%. This sale of approximately 63,400 square feet of manufacturing and warehouse space comes after a lengthy 8-year marketing period. The 14.47-acre property consists of two buildings, totaling 33,400 and 33,000 square feet.
The property was developed in 1967 and has a long history as a steel distribution facility. The buyers, Ezra Silva Lane LLC, own and operate All-Crate INC, a local custom crate and shipping manufacturer located nearby at 200 Lamberton Road in Windsor, CT. The buyer likely purchased the industrial site with intentions of expanding their current business.