Norwalk Marine Contractors has bought out a property in Stratford where it had been a tenant for 15 years.
The facility at 245 Access Road in Stratford was owned by Olson Steel. It sold for $1.65 million.
The 25,000-square-foot building sits on 4 acres that are zoned for industrial use.
When Norwalk Marine first negotiated a lease on the property in 2010, it included a purchase option at the termination of the agreement. Olson, which was downsizing, continued to occupy 3,000 square feet of the building.
Norwalk Marine specializes in marine construction, including excavation, pile driving, seawall construction, dredging and dock building.
George Shawah of Baldwin Pearson and Bruce Wettenstein of Vidal/Wettenstein were the brokers involved in the sale.
