O,R&L Commercial finalizes $6.5m sale of 222 Universal Dr. in North Haven, CT

North Haven, CT O,R&L Commercial has completed the sale of 222 Universal Dr., a 133,283 s/f industrial building situated on 8.72 acres, for $6.5 million.

O,R&L Commercial initially brought 222 Universal Dr. to market for lease when the property was approximately 50% vacant. Through its leasing efforts, the team was able to add tenancy and increase the property’s income, ultimately positioning the asset for a successful sale. This approach allowed the property to transition from a partially vacant industrial asset to a more stabilized investment opportunity.

The sale was facilitated by Jay Morris, Luke Massirio, and Samuel Crampton of O,R&L Commercial. The seller was Corporate Drive Properties, LLC of Brookfield, Conn. and the buyer was Oak Omega, LLC of Brooklyn, New York.

Following the sale, O,R&L Commercial will continue to represent the property for lease on behalf of the new ownership.