Atlanta development firm buys Milford office building for $4.45M; in 2007 it sold for $27.1M

A Milford corporate office building has been sold for more than $4 million to an Atlanta-based redevelopment company.

The 169,000-square-foot Great River Corporate Center at 440 Wheelers Farm Road was sold in June by Milford 440 Wheelers Farm Road LLC to Joffe Paulding 19 LLC for $4.45 million.

The new owners could not be reached for comment, and city officials said there are no land use applications filed for this property. 

However, the owners are affiliated with Joffe Land Cos., an Atlanta-based land investment, development and management firm that says it has a portfolio of more than 7,000 acres for residential, commercial and industrial use with a value close to $400 million. 

According to the company website, Joffe acquires land — either fully developed lots, large-scale mixed-use communities, as well as raw and partially-developed land — for residential or commercial use. 

The property sits in an office park zone, but there has been interest in redevelopment projects of surrounding office park buildings, city land use officials said.

It’s located off the Merritt-Wilbur Cross Parkway at the intersection with the Milford Connector and 5 miles to the Milford Metro-North train station.

The four-story office building sits on 11.8 acres. It dates back to 1988, but was renovated in 2021. 

In December 2023, the building was acquired for $7.1 million by DW Commercial Real Estate LLC, which is the controlling entity of Milford 440 Wheelers Farm Road, according to city and state records.  

A previous owner, SH Wheelers Farm Road LLC, bought it for $4.5 million in 2019, according to city records. In 2007, the property sold for $27.1 million.