An area commercial landlord has acquired a Frontier Communications facility on Highland Avenue in Middletown for $1.1 million.
Stone Point Properties LLC closed on 550 Highland Ave. on Jan. 15, according to town officials. Frontier and its predecessor Southern New England Telephone had used the 40,000-square-foot building, which sits on 8 acres, as a garage work center and as administrative space.
Stone Point owns several commercial properties in Middletown, including the Capitol building at 350 Main St., Main Street Market at 366-386 Main St., and 392 Washington Street. The company’s two co-owners did not immediately respond to a request for comment Friday morning about their plans for the property, which is zoned for multifamily or could be expanded for industrial use, according to listing broker Cushman & Wakefield.
The recent sale is the latest in a string of property shedding in recent years for Norwalk-based Frontier, which has been in Chapter 11 bankruptcy reorganization since early 2020.
The Public Utilities Regulatory Authority approved the Highland Avenue sale last October, ruling that it would not adversely affect the provision of telecommunications service to the public and was in the public interest.
