A 57,234-square-foot commercial printing facility at 205 Spring Hill Road in Trumbull has sold for $4.4 million.
Trumbull Printing sold the property to Glen Park Capital Partners LLC, an affiliate of Shelbourne Global Solutions LLC.
Trumbull Printing, a subsidiary of Hersam Acorn Newspapers – which published weekly newspapers in Fairfield County that were sold to Hearst in 2018 – will lease the building from Glen Park.
The commercial printing company produces newspapers and other publications for publishers between Boston and Philadelphia, including the northeast and mid-Atlantic regions.
The sale illustrates high demand for “industrial and flexible assets in Fairfield County and Shelbourne’s continued investment in Connecticut’s commercial and industrial assets,” according to Avison Young, which brokered the sale.
Trumbull Printing was represented by Sean Cahill, principal and managing director of Avison Young’s Fairfield/Westchester office, and Judd McArthur, senior vice president of tenant representation and occupier solutions. The buyer represented itself.
McArthur said the purchase offers an immediate return on its investment.
“Its central location off Route 25 makes it convenient for employees and, given its proximity to other corporate neighbors, is ideal for a future in light manufacturing, warehouse or distribution in a business-friendly area,” McArthur said.
The former owner, Trumbull Printing, will lease back the entire property.
“Sean and Judd were tireless in deploying the resources of Avison Young to ensure we were able to get the lease-back structure we sought from a well-respected buyer, all while maximizing the value of our property,” said Martin Hersam, managing partner of Trumbull Printing. “We were grateful to have them representing us during such a complex and fluid commercial real estate market.”
Gary Tress, managing member of Glen Park, said the purchase is the first in a series of proposed purchases of industrial/commercial properties in Connecticut.
“We have been following this market very closely and believe that it is a sector that will continue to be aggressively pursued by investors,” Tress said.
