Denver, CO – February 24, 2023 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 333 Kennedy Dr., Torrington, CT 06790.
Drew Williams, Kevin Calame, and Matt Lewallen of NorthPeak Commercial Advisors represented the buyer in this transaction.
“NorthPeak had the pleasure of working with a familiar buyer that we have represented in the past looking to utilize a price reduction on an out of state deal to invest in an office offering. This offering added diversity to their real estate portfolio and provides excellent cash flow that is highly stable due to the nature of its medical tenants. Tertiary markets outside of major cities provide a unique opportunity for fundamental investments that many buyers are beginning to consider due to the current CAP rate expectation disconnect in many larger cities. Between a high CAP and a good loan, our buyer is expecting a 250 point spread in the first year on his investment and is excited to own this “Cash Cow” for years to come”
– Drew Williams, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Drew Williams at 303-917-5232 or Drew@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 333 Kennedy Dr., Torrington, CT 06790
- Sale Price: $2,100,000
- Closed Date: February 22, 2023
- Property Size: 30,000 SF ($70/SF)
- Property Type: Office
