Milford Commercial Property Sells For $7M, Tesla Leases Space

Milford CT

18 January, 2022

10:46 AM

Description

MILFORD, CT — A major commercial property in Milford located at 881 Boston Post Road has sold for $7 million, according to Jon Angel, President of Angel Commercial, LLC. Greyhill Group, a New York real estate private equity firm, has purchased the property for $7 million. The seller was GJS Properties, LLC, from Fairfield. Tesla, Inc. (NASDAQ: TSLA) leases a portion of this 70,001 square foot building on 3.24 acres as a showroom and service center for its electric vehicles. "This property caught the attention of many commercial real estate investors," states Angel, who was the sole broker in this transaction. "Having Tesla as a tenant significantly strengthened the appeal of this investment, and with frontage on Route 1 (Boston Post Road), this two-story building has excellent visibility and prominent street signage." The building features heavy power, a wet sprinkler system, and a security alarm system. Currently, there is 47,867 SF of warehouse space available for lease. The warehouse space spans two levels and features four interior loading docks (one with a leveler), five drive-in doors, a 12'-18' ceiling height, and 121 parking spaces.