Connecticut regional investor-developer MJF Properties has expanded its Farmington Valley property portfolio, picking up a nearly full 20,600 square-foot Avon medical office building for $1.6 million, authorities say.
Phoenix Dale Road LLC sold the 23-year-old building at 40 Dale Road, just off the valley’s rapidly expanding Route 44 commercial corridor.
The $78-a-square-foot sale price is in line with recent comparable commercial office sales, according to New Haven Group Inc., which brokered the sale.
There was approximately 3,000 square feet vacant at the time of sale. The building’s tenants are mostly physicians and medical practices.
The New Haven Group says it brought the buyer to the table and represented the seller in the transaction.
Last December, MJF bought The Center Shops retail center at 3 Turkey Hills Road in East Granby for $2.45 million.
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