A Massachusetts investor recently paid $1.8 million for a nearly 20,000-square-foot warehouse in Rocky Hill, and the site has already been leased to a construction contractor.
In a deed recorded April 4, Phoenix Rocky Hill LLC sold the 1986-vintage, masonry-construction warehouse on 2.1 acres at 71 Hammer Mill Road to 71 Hammer Mill Road LLC.
The seller’s principal, Michael Panek, of Oxford, is also principal of Southbury-based Phoenix Realty Management.
The limited liability company is tied to Paul Richardson and his Burlington, Massachusetts-based Bostonian Properties. Richardson, on Monday, said his company owns and manages more than 365,000 square feet of commercial properties, with tenants including GE Vernova, Federal Express and Pfizer.
The Rocky Hill warehouse was Bostonian’s first purchase in Connecticut, but Richardson said he is on the hunt for more.
“We are actively looking for opportunities in the Hartford area and purchased 71 Hammer Mill Road because of its easy access to Interstate 91 and outstanding location in a well-established business park,” Richardson said.
The Rocky Hill building has been leased to East Hartford-based New England Gypsum Floors.
Jay Morris and Robert Gaucher, of OR&L Commercial, brokered both sides of the sale. OR&L also secured the new tenant.
Morris said six prospective tenants had expressed interest in the property. He attributes this robust demand to low industrial availability amid high demand.
“There are not many high-quality industrial buildings south of Hartford that have availability, especially around 20,000 square feet,” Morris said.
The 19,540-square-foot building features 18-foot ceiling heights, three drive-in doors and one loading dock.
