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September 28, 2023

Investors pay $2.15M for warehouse next to Bradley, plan extensive renovation

Costar 51 Bradley Park Road, East Granby

A Norwalk-based investor recently paid $2.15 million for a 68,977-square-foot light industrial building located on the western edge of Bradley International Airport in East Granby.

Bradley Park LLC, a company affiliated with logistics company Poulin Enterprises, sold the 1984-vintage, light industrial building on 3.8-acres at 51 Bradley Park Road to Norwalk-based Downeast Bradley Park LLC in a deal filed with the town on Sept. 15. The buyer’s principal is Janet Miller.

Nicholas Morizio, president of Colliers International in Hartford and New Haven, said the purchase is an investment. Morizio said he acted as broker for both buyer and seller and is marketing the building for lease. The building has 20-foot ceilings, six loading docks and two, 14-foot-tall grade-level doors. 

Built originally for a manufacturer of jet engines, the building’s wiring can handle heavy power loads, he said. Most recently it had been used as a warehouse.

Walmart has a short-term lease, but the entire building is available, he said.

Morizio said the new owner plans significant investments, including replacing the roof, cleaning the parking lot, removing excess interior walls for a more open interior and additional upgrades.

Morizio said the sale of a building without a long-term tenant shows investors are still willing to “take chances” in an industrial market that remains strong. 

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