A Middletown, New York buyer recently paid $1.5 million for a nearly 92,000-square-foot industrial complex on a 30.7-acre property along the Shetucket River in Windham.
In a deal recorded May 4, RYBRM LLC bought the complex at 730 Windham Road from U-Jam LLC, of Canterbury. The seller’s principal is Gerard F. Morin Jr.
Attempts to reach Joel Sofer, principal of the buying LLC, were unsuccessful.
RYBRM shares a Middletown, New York address with Star Best Buy, a distributor of beauty products. Sofer is CEO of Star Best Buy, according to New York business records.
Sofer’s Linkedin page describes him as an entrepreneur and real estate investor who is “always looking” for ventures, including acquisition of medical businesses and health and beauty brands. He is also CEO of BioYork, a medical waste disposal company, according to his Linkedin page.
Seven months ago, Sofer posted on Linkedin that he was “still heavy in the market looking for a fixer upper warehouse.” Six months ago, he posted that he is interested in industrial properties of 50,000 square feet or greater in New York, New Jersey, Connecticut and Pennsylvania.
The Windham complex includes a 77,399-square-foot warehouse and 2,750-square-foot warehouse, both built of masonry-block in 1947. It also includes a 396-square-foot storage building, a 10,400-square-foot, metal-sided warehouse built in 1968 and a 900-square-foot warehouse of concrete and masonry block completed in 1998.
David Mieczynski of National Realty Advisors represented the seller.
Windham Director of Economic and Community Development James V. Bellano said he hasn’t had an opportunity to speak with the new owner but is hopeful to see warehouse or distribution use, especially as the property sits along the New England Central Railroad freight line.
“With a rail line there, warehouse would be the higher and better use,” Bellano said.
