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November 21, 2024

East Hartford industrial building sells for $11.5M

Costar 311 Prestige Park Road, East Hartford.
By Michael Puffer

A 111,040-square-foot East Hartford industrial building housing aerospace manufacturer ATI sold last week for $11.5 million.

That’s more than double what the property, at 311 Prestige Park Road, fetched when it last sold for $5 million in 2021.

In a deed recorded Nov. 14, four limited liability companies sharing ownership of the property sold it to another LLC tied to New York-based investor Morgan Stanley.

The four sellers share a Montvale, New Jersey address with real estate investment company Arcadian Cap Group. Joseph Brachfeld signed the deed for the four selling LLCs.

In the deed, buyer NHNR Hold Co 15 LLC lists its address as “Care of Morgan Stanley Real Estate Investing Inc.,” at Morgan Stanley’s headquarters in New York. 

Newmark Executive Managing Director Art Ross acted as listing broker, working with Newmark’s capital markets team in New Jersey. 

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