Milford, CT According to Jon Angel, president of Southport-based Angel Commercial, L.L.C., Quarry Road Business Park, located at 260-284 Quarry Rd., has sold for $5 million.
Jon Angel, Angel Commercial LLC“Over the last two years, our firm implemented an asset stabilization plan,” said Angel. “This entailed identifying areas in need of improvement which included structural and mechanical upgrades along with parking lot repairs. Upon completion, we reintroduced the property for lease and once we achieved a 90% occupancy rate, the seller elected to offer the premises for sale.”
Angel Commercial represented the seller, ECP Quarry Road, LLC, and the buyer, LM Real Estate Partners, was represented by the New Haven Group.
The Quarry Road Business Park, an 83,580 s/f flex property that occupies 7.7 acres, is located close to I-95 making it a convenient location for many businesses.
Angel Commercial is a full-service real estate brokerage firm. The company specializes in the acquisition, disposition and leasing of office, industrial, multifamily and retail properties on a local and national level.