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Branford Biotech-Leased Property Fetches $5M

By James Sanna | March 8, 2023 | Reprints | Unlock Link | Print

Photo courtesy of Colliers

A Branford flex/office building has secured a $5 million price in its sale to a New London investor.

Colliers’ John Cafasso and Ian Hunt helped a Smithtown, New York LLC sell 15 Commercial St. to a New London LLC registered to real estate agent Kenneth Boyer.

The seller originally bought the building in 2018 for $3.15 million according to town property records. According to Colliers, the 28,126-square-foot property built in 1979 was fully leased to biotech Ancera Inc. at time of sale, but it’s unclear if the building underwent any upgrades over the last five years.

With lab space in New Haven still hard to come by, Branford flex buildings had become a prime area for early-stage biotechs spinning off of Yale Medical School and Yale New Haven Medical Center to set up shop.