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Connecticut
Posted: September 18, 2015
O,R&L Commercial sells 97,000 s/f R&D/flex park for $10.5 million
Northeast Technology Center - Branford, CTBranford, CT O,R&L Commercial completed the sale of the Northeast Technology Center located at 15 & 35 Northeast Industrial Rd. in southern Conn.’s bioscience corridor. The property is situated just east of Yale University. The properties consist of three interconnected R&D/flex buildings on two separate tax lots together measuring 97,000 s/f on 5.63 acres.
Tim McMahon, O,R&L Commercial
Rich Lee, O,R&L Commercial
Frank Hird, O,R&L Commercial
The properties were sold largely vacant by O,R&L in 2010 who then spearheaded an intensive leasing campaign during a lackluster period to bring the properties to 90% occupancy at the time of the 2015 sale.
The leasing efforts were led by Tim McMahon, Rich Lee and Frank Hird of O,R&L who also represented the seller, G+L 15 & 35 NE Industrial, LLC and procured the buyer in the sale, SH NETC Branford, LLC. The sale price was $10.5 million.
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Connecticut
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