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January 5, 2021

California developer acquires Wallingford flex property for $1.1M

By Matt Pilon

A California-based commercial and multifamily developer has jumped coasts with a recent $1.1 million real estate deal in Wallingford.

Michael Tevis, president of Menlo Park’s Intrinsic Ventures, purchased 135 N. Plains Industrial Road -- a 21,000-square-foot office and light manufacturing building that sits on 2.4 acres -- on Dec. 3, according to property records.

Tevis, who according to his website has developed more than 60 properties in northern California and Oregon over the past several decades, made the
Wallingford purchase through Troy Laundry Building LLC.

The seller of the property, built in 1980, was North Haven-based UPC Realty LLC, led by David Cook. The listing brokerage was O,R&L Commercial and brokers Frank Hird, Richard Lee and Lori Kovi. Hird said Tuesday that the property is fully rented, following a recently inked lease with A Beautiful Life Adult Day Care.
 

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