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General Dynamics Electric Boat recently paid $5.5 million for a nearly 55-acre property in North Stonington, where the Groton-based submarine builder plans to construct a roughly 480,000-square-foot warehouse.
The property at 45 Frontage Road, right off Interstate 95, currently hosts a 40-year-old, 5,000-square-foot garage.
The property was sold by the Mashantucket Pequot Tribal Nation in a deed recorded by the town on Jan. 2. The tribal nation paid $2.85 million for the property in 1995.
North Stonington’s Planning and Zoning Commission, on Dec. 12, unanimously signed off on Electric Boat’s site plan application for a 400-foot by 1,200-foot warehouse. The plan calls for 13 loading docks, three vehicle ramps into the building and 75 parking spaces.
The site plan, prepared by SLR Consulting, notes three shifts at the warehouse, with 73 employees maximum on a shift. The company employs about 23,200 people between its shipyards in Groton and Rhode Island.
John Cafasso, a principal of Colliers, brokered the sale on behalf of the tribal nation.
Colliers marketed the site for about two years, advertising it for lease or build-to-suit for a tenant. There had been steady interest but no deal before a buyer came in with an unsolicited offer to purchase, Cafasso said Thursday.
“We are thrilled to have facilitated the sale of this exceptional property,” Cafasso said. “This transaction highlights the strength of the North Stonington market and its appeal for corporations seeking high-quality construction on a larger scale.”
An Electric Boat spokesperson confirmed the purchase of the North Stonington property but declined comment on plans for the site.
Susan Cullen, North Stonington’s planning development zoning official, noted the new warehouse will be about halfway between Electric Boat’s Quonset Point Facility in North Kingstown, Rhode Island and its Groton facility. The Frontage Road property is also within a district targeted by the town for industrial and commercial development, she said.
“The town is very much looking forward to them being here,” Cullen said. “It will provide more jobs. And I think it impacts the region in a very positive way.”
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