Norwalk, CT – Norwalk, CT – CoreOne Industrial LLC (CoreOne), an industrial real estate investment company headquartered in Norwalk, CT, bought 1175 Woodend Road, in Stratford, CT from Frontier Communications Corporation for $7.2M ($49 psf). The purchase consists of a 146,532 SF warehouse situated on a 9.82 acre lot. With the sale, Frontier Communications will enter into a sale leaseback for a portion of the property.
“We are acquiring this building at a tremendous cost basis,” said Joe Burton, President of CoreOne. “Stratford is one of the strongest industrial markets in Connecticut. The ability to purchase this asset with a tenant in place at this price point is uncommon in this market. We are looking forward to continue to expand our portfolio in our core markets in the front half of 2021”.
About CoreOne Industrial CoreOne Industrial LLC ( www.coreoneind.com ) is a privately held real estate investment firm specializing in the acquisition, management, and potential redevelopment of both performing and underperforming properties in the United States. CoreOne is actively looking to grow its portfolio. Please contact Robert DePiero at (201) 739-4529 with any opportunities.