SHELTON, CT—An entity controlled by Australian REIT RNY Property Trust has sold a flex building on Bridgeport Avenue here to New York-City-based Sun Equity Partners, LLC for $26.25 million.
In the deal reported by CBRE, Sun Equity Partners has added the 452,414-square-foot flex building at 710 Bridgeport Ave. to its portfolio. Jeffrey Dunne and Steven Bardsley of CBRE's Institutional Properties represented the seller, RA 710 Bridgeport Avenue LLC, and procured the buyer.
Currently 72% leased, 710 Bridgeport Ave., which is located on a 36-acre campus, offers significant upside through further lease up, while having a strong credit rent roll, including PerkinElmer Health Sciences, Inc. (130,035 square feet) and Panolam Industries International, Inc. (79,000 square feet) that anchor the property, CBRE notes.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
