Offering of Four-Building Property Draws Significant Investor Interest
Cushman & Wakefield’s Metropolitan Area Capital Markets Group has inked a $41 million industrial property trade in Stratford. Exeter Property Group acquired Stratford Industrial Park from Stratford Development following significant investor interest in the four-building, 428,000-square-foot asset.
Located on nearly 34 acres at 500-650 Long Beach Boulevard, immediately off I-95, Stratford Industrial Park is 100 percent leased and occupied by household-name tenants including: Starbucks, FedEx Ground, Carrier Corporation and Endo International. The property serves as a strategic hub for these organizations, according to Cushman & Wakefield’s Kyle Schmidt, who worked on the sale with Metropolitan Area Capital Markets Group team members Gary Gabriel, Andrew Merin, David Bernhaut, Al Mirin and Kate Schwartz.
“This is a superior-quality, newer industrial development located two turns off of I-95 with access to affluent, densely populated Fairfield County and the larger I-95 corridor stretching across southern Connecticut,” Gabriel noted. “The park has successfully competed for significant distribution uses and, likewise, was a prime investment target. We had strong interest from a variety of investors.”
Stratford Industrial Park, constructed between 2001 and 2011, features four institutional-quality buildings designed for high-efficiency through put and inventory turnover, with 50’ x 40’ column bays, and excess auto and truck parking. Its tenants also benefit from access to more than 8 million consumers within a 45-minute drive and one-third of the nation’s population within a one-day drive.
Based in East Rutherford, N.J., Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Conn., Pennsylvania, and Delaware. The team has completed $21.7 billion worth of transactions since 2000, closing on $2 billion in 2015.
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visitwww.cushmanwakefield.com or follow @CushWake on Twitter.
