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November 18, 2024

125,152-sq.-ft. Windsor office building goes to auction; opening bid: $450,000

COSTAR 3 Waterside Crossing, Windsor
By Michael Puffer

A 125,152-square-foot Windsor office building that went through foreclosure in 2021 recently went up for auction.

The three-story, glass-and-metal-sided building on 14.1 acres at 3 Waterside Crossing last sold for $10.5 million in 2001. The property was foreclosed on in late 2021 by a limited liability company tied to the

Catholic Order of Foresters – a Catholic organization that sells life insurance and annuities.

CBRE Executive Vice President John McCormick is the listing broker.

The property has been listed on the online auction site Ten-X, with opening bids starting at $450,000. The auction will run from Jan. 13 to Jan. 15. 

Windsor’s assessing office appraises the 1984-vintage building and associated land at $3.68 million.

Decades ago, Windsor was a magnet for large office tenants, but the pandemic has battered the town’s office market. 

Office vacancy rates that hovered around 35% in the second quarter of 2019 shot to nearly 60% by the second quarter of 2024, according to CBRE. Class A building vacancies in Windsor approached 80% in the second quarter of this year.
 

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