A North Haven industrial building has sold for $1.6 million.
AAA Northeast, the seller, used the building for its regional automotive services facility serving its members in Fairfield, Litchfield, and New Haven counties.
The buyer was New York commercial real estate investor Moses Singer. It is not clear if AAA is leasing back the space.
“AAA was delighted to accommodate Mr. Singer in his expansion into the Connecticut market,” Julie Barrett, AAA Northeast’s Director of Real Estate said in a statement.
The property consists of two buildings on 2.67 acres minutes to major thoroughfares in a light industrial zone with a fenced gated secure parking lot. The first, 28,700-square-foot concrete/cinder block building features ceiling heights between 12 feet and 16.5 feet, three loading docks and five drive-in doors. The second, 10,000-square-foot concrete/cinder block building features a 17.5-foot ceiling height, two loading docks, and one drive-in door.
“We continue to see an increasing demand for industrial properties, and with warehouse vacancies at a record low, the property was a smart acquisition for this investor,” Jon Angel, President of Angel Commercial, said in a statement.
Angel was the sole broker in this transaction.