The 38-acre East Haven property that houses Town Fair Tire’s headquarters and distribution complex has been sold for more than $7 million.
The property at 460 Coe Ave. contains a 207,000-square-foot distribution center with 20,000 square feet of office space, and a 176-trailer position industrial outdoor storage site.
The portfolio is leased to Town Fair Tire, a subsidiary of Mavis, on a long-term, absolute triple-net lease, according to Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services.
Harrison Klein, first vice president of investments, Jim Koury and Alex Quinn, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller, Mellen East Haven Associates LLC and procured the buyer.
“This sale is indicative of investors’ desire for quality distribution assets throughout New England,” Klein said.
The warehouse property has a total appraised value of $9.9 million, according to city records.
