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Multitenant Flex Building Sells for $1.9M

November 18, 2019 | Reprints | Unlock Link | Print

Photo courtesy of Fischer Commercial Real Estate.

A Woodbridge flex building has sold for $1.9 million in an investment sale.

The 14,771-square-foot multitenant building at 15 Research Drive sits on 2.3 acres. Four of the five rental units were leased at the time of the sale, according to Fischer Commercial Real Estate.

Fisher’s Alan Fischer and Steve Miller of Levey Miller Maretz represented the seller, Research Development at West Rock. Buyer Bryan Nesteriak was represented by Robert Pettinella of Select Assoc.

Nesteriak will relocate his engineering and land surveying business from Seymour into the building’s vacant unit.

“This buyer went from being a tenant to an owner because, in addition to the quality of the building and its first-class location, he realized the revenue stream generated by the four existing tenants would help pay the mortgage while he built equity for the future,” Fischer said in a statement..