Marcus & Millichap arrange $2.6 million sale of Bank of America

Windsor, CT Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, completed the $2.6 million sale of a 4,650 s/f Bank of America property. 

“Bank of America remains one of the most dominant financial institutions in the region, ranking among the top five deposit holders in Hartford County,” said Mark Krantz, senior director investments. “This location benefits from exceptional real estate fundamentals — positioned as an outparcel to high-performing national retailers such as Target, HomeGoods, Stop & Shop, and Petco.” 

Krantz and Derrick Dougherty, senior managing director investments, exclusively marketed the property on behalf of the seller, a Connecticut-based private investor and developer.

The buyer, a Florida-based private investor, was also procured by Krantz and Dougherty, in association with John Krueger, the firm’s broker of record in Connecticut. 

“It was a pleasure to represent both the buyer and seller in this transaction. The collaborative effort from all parties made this a successful closing for all parties involved,” said Krantz. 

Built in 2007, the property is located at 1045 Kennedy Rd. and operates under a corporate-guaranteed triple-net ground lease. It is positioned at a signalized intersection off I-91, with traffic counts of 152,000 vehicles per day. Nearby economic drivers include Bradley International Airport, Amazon’s 3.8 million s/f fulfillment center, and major employers such as Pratt & Whitney, CVS Health and The Hartford.