News: Connecticut
Posted: March 15, 2013
Morris and Reese of O,R&L Commercial sell 64,137 s/f for $5.6 million
O,R&L Commercial real estate brokerage team of Jay Morris and Dale Reese completed the sale of 360 Bloomfield Ave., a 64,137 s/f class A office building, situated on 4 acres at Exit 37 along I-91 to Capstone Properties LLC.
The property, previously owned by Mattapoisett Properties, LLC was sold for $5.6 million.
Morris and Reese were the sole brokers. The signature building, known as the Xerox building, is 94% leased. With its visibility along I-91 and amenities such as a full parking garage, vending service, 3 elevators, secure tenant storage areas and a large atrium lobby have made this a sought after location for area businesses. Only 5,000 s/f is currently available for lease, subdividable to 1,750 s/f.
MORE FROM Connecticut
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Ask the Electrician: How do I prepare my commercial building for a disaster?
New England’s notorious weather – from fierce winter storms to summer squalls and fall hurricanes – can leave businesses in the dark. While power outages are often blamed on storms, they can also be caused by unforeseen events like accidents or construction mishaps. While it’s impossible to prevent disasters and power outages entirely, proactive preparation can significantly minimize their impact on your commercial building.
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary