An affiliate of a Baltimore-based real estate investment company has bought a parcel of industrial land in Stratford.
The affiliate, 350 Lord LLC, paid $1.3 million for 350 Lordship Blvd. according to public records. The buyer is controlled by an LLC registered to the CEO of the Poverni Sheikh Group investment company.
The Stratford assessor’s database shows the 1.13-acre property has no buildings or other improvements on it.
According to Angel Commercial, whose president John Angel was the sole broker in the transaction, the property consists of cleared and level land located a-half mile off Interstate 95’s Exit 30, in a Opportunity Zone with 273 feet of frontage on Lordship Boulevard.
The new owners plan to build a distribution center, which Angel stated has already been permitted by town planning officials.