Single-Story Office/Flex Building
Strong Healthcare Tenant Mix | Favorable Lease Structures with Attractive Rental Increases
Marketing description
Northmarq, on behalf of ownership, is pleased to exclusively offer for sale the opportunity to acquire the 100% fee simple interest in the +/- 32,201 SF multi-tenant building located in Wallingford, CT (“The Property”). The Property is a Single-Story Office/Flex Building that sits on a 5.51-acre lot. The building is home to three healthcare tenants, including InBloom Autism Services, Lumibility and Physical Therapy & Sports Medicine Centers. The multi-tenant roster is under leases on a
long-term basis, with the average weighted lease term of 6 years and 7 months remaining on The Property.
The Property is located in Wallingford, Connecticut; a historic New England town located centrally between major metro areas, offering convenient access to New Haven (~12 miles) and Hartford (~27 miles), with larger cities like New York (~80 miles) and Boston (~111 miles) also within reach.
The Property is positioned in Wallingford's primary commercial corridor, with nearby national retailers including: Stop & Shop, ShopRite, Walmart, Taco Bell, Smoothie King, Burger King, Bank of America, TD Bank, and Advance Auto Parts.
Investment highlights
- Strong Healthcare Tenant Mix
- Attractive Rental Increases
- Highly-Trafficked Location, Excellent Access, and Visibility
- Positioned between New Haven and Hartford
- Dense, Affluent Demographic Base
- Recent Capital Improvement - Roof Replacement
- Lease-Up & NOI Growth Opportunity
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