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15 Sterling Drive

~173,000 SF Wallingford, Connecticut Industrial Warehouse Building

RealINSIGHT Marketplace and NKF Capital Markets are pleased to present the opportunity to acquire the fee-simple interest in 15 Sterling Drive, an Industrial/ Warehouse asset in Wallingford, Connecticut.

Property Tours:  Property tours are being conducted on Wednesday, June 13th beginning at 11:15 AM.  Please contact Kim Mowers ((203) 531-3623, kmowers@ngkf.com) to arrange for your property tour.

The property consists of a 67% leased, 173,015 SF, Industrial/ Warehouse building situated on 22.38 acres. Renovated in 2003, the property features 18’-22’ ceiling heights, 5 loading docks and 1 drive-in, heavy power, abundant parking and excellent access.

Strategically located in an industrial park with immediate access to Rte. 15 and I-91, 15 Sterling offers excellent north-south access for commercial vehicles, while being located within a half-mile of the town’s main hub of retail, restaurants, shopping, dining and lodging. The property is half way between New Haven, Connecticut (18 miles) and Hartford, Connecticut (22 miles), ideal for businesses servicing both markets.

INVESTMENT HIGHLIGHTS

Substantial Opportunity for Value Creation 15 Sterling represents a substantial value-add opportunity for a new owner looking to take advantage of a well-located asset. The high submarket occupancy (96.7%) and the lack of new construction supports the expectation that the positive net absorption for the past two years will continue in 2018. Leasing-up the current vacancy to market levels will result in a significant cash flow increase for a new owner.

Multiple Exit Strategies – In addition to being an attractive opportunity for investors, the building is ideal for an owner-occupant wishing to establish presence in the resilient Wallingford submarket.

Strategic Location, Excellent Amenities - The property is situated in an Industrial park with convenient access to Rte. 15 and Interstate I-91, which provide excellent north-south access for commercial vehicles servicing Hartford, New Haven, as well as New York City. Amazon is one of several companies that have opened industrial sites in Wallingford, Connecticut, leveraging its strategic location. 15 Sterling’s location is only a half mile away from the vast majority of Wallingford’s retail, restaurants, and lodging.

 

Auctioneer: Michael A. Fine - License No. 0755028

 

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Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

15 Sterling Drive Industrial

15 Sterling Drive, Wallingford, CT 06492

Expired

Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Industrial Type
  • Warehouse
  • Property Size
  • 173,015 Sq Ft
  • Ceiling Height
  • 22 Ft
  • Land Area
  • 22.38 Acres
  • Year Built
  • 1978
  • Year Renovated
  • 2003
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 495
  • Occupancy
  • 66.47%
  • Occupancy as of
  • Apr 30, 2018
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Michael A. Fine

      c/o Fisher Auction Company Inc.

      License: #0755028