A 60,000 s/f medical complex sold recently for $13.3 million ($222 per s/f). The property, located at 701 Cottage Grove Rd., was 94% occupied at the time of sale with an array of medical practices.
Steven Inglese, principal of New Haven Group, Inc., marketed the property on behalf of the seller, Cottage Grove Partners, LLC and procured the buyer. The buyer was an affiliate of Realty Group, a private investor based in New York.
The nine acre property included six interconnected buildings built in 1973 and a seventh building built in 2007. The property is located near Cigna's corporate campus, along Rte. 218.
New Haven Group, Inc. is a commercial real estate service firm focused on the sale of income producing property and development sites throughout Connecticut.