6 years ago
ENFIELD, CT – O,R&L Commercial real estate brokerage team of Jay Morris and Colleen Sheridan announced the sale of 1559 King Street, a 184,000 square foot office/warehouse/retail building, situated on 17 acres at Exit 46 along I-91 in Enfield CT to Baker Properties, a division of The Baker Companies, White Plains, NY. The property was sold for $5.2 million.
Baker Properties specializes in commercial real estate development and acquisition of warehouse and flex buildings on major distribution corridors in New York, New Jersey, Connecticut and Pennsylvania. In over 40 years, Baker Properties has acquired and developed over 7 million square feet of warehouse and flex product. It currently owns and manages over 3.5 million square feet for its own account.
Philip King, Vice President of Acquisition says: “Baker Properties services its clients with a broad array of real estate expertise: Experienced management, years of design and construction experience, combined with a proven track record of integrity, and financial strength assures a value-added advantage for today's demanding corporate client. We see this highly visible location on I-91 as a key component in our portfolio of properties” The property will be divided to accommodate the needs of a diverse group of tenants from 20,000 square feet and up.
O,R&L Commercial team of Jay Morris and Colleen Sheridan were the sole brokers in this transaction. Morris, managing partner of the firm states: “This is a great outcome for this building, which was formerly the home of Bernie’s corporate offices, retail showroom and distribution center, to be put back in service”. Colleen Sheridan states “This in one of the most highly visible locations in the State of Connecticut with an immediate 4-way Interchange at the property. It will attract companies seeking a business location that offers modern efficient space coupled with maximum highway exposure”. The zoning accommodates a wide variety of uses including retail, office, warehouse and others. The property has a very high parking ratio which makes it an ideal location for high density employee companies.”
O, R&L Commercial, LLC is a full service real estate firm with four divisions: Commercial Real Estate Brokerage, Commercial Construction, and Facility Management and Maintenance.
* * *
For additional information, please contact Hope Valiska at (860) 721-0033.