Wallingford, CT BEB Capital has acquired 9 Fairfield Blvd. for $2.3 million. The building is located two miles from I-91. The 32,745 s/f property was previously owned by National Filter Media Corp. This is the second industrial acquisition in the town for BEB Capital and the firm has plans to continue building their presence in the area. BEB Capital also owns 34 Barnes Industrial Park Rd.
“9 Fairfield Boulevard aligns with our core investment strategy to acquire value-add and core plus industrial deals in the tri-state area and will continue to seek more opportunities to acquire assets in this market and grow our portfolio,” said Lee Brodsky, chief executive officer of BEB Capital.
Ben Fischer, Dan Penaro, and Keyvan Ghaytanchi of BEB Capital oversaw the acquisition. National Filter Media Corp. was represented by James Panczykowski of JLL.
9 Fairfield Blvd. will be delivered vacant to BEB Capital, allowing the real estate development and investment firm the opportunity to renovate the industrial asset and bring it to market. This acquisition is the latest addition to BEB Capital’s industrial portfolio, which consists of 16 industrial properties throughout the East Coast totaling roughly 1.3 million s/f.
BEB Capital has decades of hands-on real estate management and investment experience, particularly involving industrial assets in the region. The expertise in the industrial sector has led to a partnership with Rockpoint Group, a real estate private equity firm, in the form of a programmatic joint venture, which began in December 2021. With an investment pipeline of up to $1 billion, the mission of this joint venture is to accumulate a portfolio of industrial assets across the Northeastern U.S., with a primary focus on Long Island, NY.
*Note: The acquisition of 9 Fairfield Blvd. is not part of the programmatic joint venture with Rockpoint Group.