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New Jersey Firm Buys Connecticut Industrial Properties

STAMFORD, CT-New Beverly Realty LP has purchased an 11- building industrial portfolio for $21.34 million.

By John Jordan | Updated on August 22, 2000

An 11-building portfolio in Hartford and New Haven counties has been sold by First Industrial LP to New Beverly Realty LP, a partnership controlled by Rubenstein Properties of Little Falls, NJ. The portfolio, which was 97% leased at the time of the sale, consists of: 135 Sheldon Rd., 20 & 50 Utopia Rd., 169, 227 and 249 Progress Dr., all in Manchester; 428, 430, 436 and 460 Hayden Station Rd.; all in Windsor; as well as 345 McCausland Court in Cheshire.

CBRE/Whittier Partners and CB Richard Ellis represented the seller.Jeffrey Dunne of Ellis’ Tri-State Investment Team says, “This portfolio gives Rubenstein Properties an immediate presence in the Hartford County market, as well as New Haven County.” He adds that the deal marks the entrance of Rubenstein Properties into Connecticut.

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