North Haven, CT O,R&L Commercial, LLC has completed an investment sale at the Universal Business Center, a 133,283 s/f industrial building park located at 222 Universal Dr. The property consists of 11 buildings each with separate utilities and access located off I-91 at Exit 9, 5 minutes from downtown New Haven and 35 minutes from Hartford.
The property was owned by the same family for over 61 years. Universal Wire moved to the site from their original location on the shoreline in the l950s. Through many years, they added onto the building as their product line and sales expanded. After selling the business, the property was converted into a multi-tenant industrial complex.
The property sold for $3.75 million. Frank Hird, SIOR of O,R&L Commercial represented the seller, Branco Inc. and the buyer, Corporate Drive Properties, LLC was represented by Bryan Atherton of Northeast Investment Realty. Hird will continue to handle the leasing of the park for the new owners.
O,R&L Commercial with offices in Branford and Rocky Hill has leased and sold over 1 million s/f of R&D laboratory space in the Greater New Haven area since 2010.