Cushman & Wakefield announced today that the real estate services firm has arranged the sale of 175 Addison, a 605,502-square-foot industrial/research and development and office asset. The final sale price was $9,000,000.
Cushman & Wakefield’s Matt Torrance, Joel Grieco, Damon Bowers, Al Mirin, Kate Schwartz, Sean Duffy and Timothy D’Addabbo represented the sellers in the transaction and also procured the buyer, a joint venture between Hollister & Moore (H&M) led by Bradford Wainman and the New Haven Group (NHG), led by Steven Inglese. The partners are both Connecticut-based commercial real estate professionals. Cushman & Wakefield has also been retained to serve as the exclusive leasing agent for the property.
“175 Addison is a unique offering of high-tech industrial and flex space which benefits from amenities and significant infrastructure not typical in the market or for this product type,” said Grieco.
“We are thrilled to have arranged this complicated transaction with H&M and NHG, which represents one of the largest property sales in Connecticut this year,” added Torrance.
Located just 15 minutes north of Downtown Hartford, 175 Addison is situated on 78.6 acres and consists of approximately 400,000 of flex/industrial space with 17-to-22-foot ceilings and 18 loading docks along with 200,000 square feet of high-quality office space. The property’s industrial and office space are completely interconnected and feature a full amenity package including a full-service cafeteria, fitness center with locker rooms and a conference center. The complex has significant mechanical infrastructure ideal for modern manufacturing and research and development lab space, which includes 20,000 amps of power, 3 megawatts of back-up power, chilled water systems, redundant electrical and fiber feeds and on-site management.
The property’s website is located here – www.addisoncorpcenter.com External Link.