CBRE brokers $10 million industrial sale at 260-284 Quarry Rd. in Milford

Milford, CT The CBRE team of Jeff Dunne, Steve Bardsley and Travis Langer in collaboration with Matthew O’Hare of CBRE’s New Haven office has completed the $10 million sale of 260-284 Quarry Rd. CBRE represented the seller, LM Quarry Road II, LLC, an entity managed by LM Real Estate Partners. CBRE also procured the buyer, Albany Road Strategic Opportunity Fund LLC, an entity managed by Albany Road Real Estate Partners. 

260-284 Quarry Rd. is a two-building shallow-bay industrial complex totaling 85,821 s/f situated on 7.74 acres that is 100% leased to a diverse tenant roster at below-market rental rates. The property is located proximate to I-95 in New Haven County, which has some of the strongest industrial market fundamentals in Connecticut -- a 7.6% vacancy rate and 15% rental growth rate since 2022. These strong market conditions, coupled with limited new construction, will continue to drive rents. 

CBRE senior vice president Bardsley said, “260-284 Quarry Rd. is well-positioned in this historically strong market to maintain high occupancy and create upside due to rising rental rates.”