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249 Preston Rd - Heritage River Village Development Site 60.99 Acres of Commercial Land Offered at $8,500,000 in Griswold, CT 06351

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INVESTMENT HIGHLIGHTS

Approved master plan that includes multifamily, senior housing and memory care, and commercial components
A major infrastructure investment from the State of Connecticut totaling nearly $9 million

32,000 SF of approved commercial space
Flexibility within the approved site plan

EXECUTIVE SUMMARY

Colliers is pleased to present the exclusive offering of Heritage River Village, a ±60.99-acre industrial development opportunity located in Griswold, Connecticut. Positioned directly off I-395 at Exit 22, the property is zoned Commercial, with a conceptual site plan site plan for two industrial buildings of 255,000 square feet and 265,000 square feet. Warehouse use is permitted in the zone via special exception, which has not yet been obtained, allowing a buyer to tailor the entitlement path to their specific development or user strategy.
Located in the heart of Southeastern Connecticut’s growing logistics corridor, the site offers outstanding accessibility, public utility availability, and the potential to meet rising demand for modern industrial space. Heritage River Village represents a rare opportunity to develop large-format warehouse product in a high-barrier, supply-constrained market.
Please visit www.heritagerivervillagect.com for a full offering memorandum and additional diligence information.

Heritage River Village (Preston Road) Flyer

PROPERTY FACTS

Price	$8,500,000	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Industrial Multifamily Apartment Units Apartment Units - Condo Master Planned Community Planned Unit Development
No. Lots	1	Total Lot Size	60.99 AC
Property Type	Land
Zoning	C - Commercial (C) with Mixed Use Development district overlay

Price	$8,500,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Industrial Multifamily Apartment Units Apartment Units - Condo Master Planned Community Planned Unit Development
Total Lot Size	60.99 AC
Zoning	C - Commercial (C) with Mixed Use Development district overlay

1 LOT AVAILABLE

Lot

Price	$8,500,000	Lot Size	60.99 AC
Price Per AC	$139,367.11

Price	$8,500,000
Price Per AC	$139,367.11
Lot Size	60.99 AC

DESCRIPTION

Colliers is pleased to present the opportunity for a qualified developer to acquire the Heritage River Village development site at 203-249 Preston Road in Griswold, CT. The mixed-use site is approved for 266 multifamily and single family attached housing units, 210 upscale active adult, independent living or service enriched assisted living and memory care units, up to 32,000 square feet of commercial space, and a 47,400 square foot health or medical complex. Located just 0.5 miles from Interstate 395, Heritage River Village is strategically located in an underdeveloped location between New London, CT and Worchester, MA. Please visit www.heritagerivervillagect.com for a full offering memorandum and additional diligence information.

CONTACTS

John Cafasso, CCIM, SIOR
Ian Hunt
Colliers

Listing ID: 35023288
Date on Market: 3/5/2025
Last Updated:
Address: 249 Preston Rd, Griswold, CT 06351

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249 Preston Rd, Griswold, CT for sale Primary Photo- Image 1 of 2 — Heritage Pointe-Sr Liv-230106

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