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65 Spring Ln 42,500 SF Industrial Building Farmington, CT 06032 $4,500,000 ($105.88/SF)
Executive Summary
100% NNN-Leased, Single-Tenant Industrial Facility on 9.13 Acres
CBRE, Inc. is pleased to offer for sale 65 Spring Lane, a single-story industrial property that is currently 100% NNN-leased to MEI Industrial Solutions through March 2030. MEI has two (2) five-year renewal options at FMV with fixed 2.5% annual increases. Currently, MEI pays a flat NNN rate of $8.24/RSF, the equivalent of $350,400 per year with approximately four years remaining on the term. 65 Spring Lane is a key operational hub for MEI and its primary Connecticut location. The company specializes in industrial rigging, machinery moving, crating, millwrighting and mechanical installation, operating out of 27 locations across 22 states and employing nearly 1,200 employees across the U.S.
Measuring approximately 42,500 RSF, 65 Spring Lane is situated on 9.13 acres within the Farmington Industrial Park in Farmington, Connecticut and features structural steel and concrete block construction and includes four loading docks with levelers, one drive-in door and an office area of 15,725 RSF (37%). The 9.13-acre site is large enough to accommodate an expansion of the existing building by ±11,000 SF, and the site can potentially be subdivided for construction of a future 30,000 SF building on the south portion of the lot (measuring approximately three acres).
This offering represents the opportunity for an investor to acquire a well-located, fully-occupied industrial property with stable in-place income and the potential for additional value with the ability to expand and/or build on excess acreage. The property is being offered for sale at an asking price of $4,500,000.
CBRE, Inc. is pleased to offer for sale 65 Spring Lane, a single-story industrial property that is currently 100% NNN-leased to MEI Industrial Solutions through March 2030. MEI has two (2) five-year renewal options at FMV with fixed 2.5% annual increases. Currently, MEI pays a flat NNN rate of $8.24/RSF, the equivalent of $350,400 per year with approximately four years remaining on the term. 65 Spring Lane is a key operational hub for MEI and its primary Connecticut location. The company specializes in industrial rigging, machinery moving, crating, millwrighting and mechanical installation, operating out of 27 locations across 22 states and employing nearly 1,200 employees across the U.S.
Measuring approximately 42,500 RSF, 65 Spring Lane is situated on 9.13 acres within the Farmington Industrial Park in Farmington, Connecticut and features structural steel and concrete block construction and includes four loading docks with levelers, one drive-in door and an office area of 15,725 RSF (37%). The 9.13-acre site is large enough to accommodate an expansion of the existing building by ±11,000 SF, and the site can potentially be subdivided for construction of a future 30,000 SF building on the south portion of the lot (measuring approximately three acres).
This offering represents the opportunity for an investor to acquire a well-located, fully-occupied industrial property with stable in-place income and the potential for additional value with the ability to expand and/or build on excess acreage. The property is being offered for sale at an asking price of $4,500,000.
Property Facts
| Price | $4,500,000 | No. Stories | 1 |
| Price Per SF | $105.88 | Year Built | 1962 |
| Sale Type | Investment NNN | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 3.5/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 11’ |
| Building Class | C | No. Dock-High Doors/Loading | 3 |
| Lot Size | 9.13 AC | No. Drive In / Grade-Level Doors | 1 |
| Rentable Building Area | 42,500 SF | ||
| Zoning | CR | ||
| Price | $4,500,000 |
| Price Per SF | $105.88 |
| Sale Type | Investment NNN |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 9.13 AC |
| Rentable Building Area | 42,500 SF |
| No. Stories | 1 |
| Year Built | 1962 |
| Tenancy | Single |
| Parking Ratio | 3.5/1,000 SF |
| Clear Ceiling Height | 11’ |
| No. Dock-High Doors/Loading | 3 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | CR |
Amenities
- Signage
- Air Conditioning
Utilities
- Gas
- Water - County
- Sewer - County
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | FARM-000147-000000-000001 | Improvements Assessment | $1,279,740 |
| Land Assessment | $547,960 | Total Assessment | $1,827,700 |
Property Taxes
Parcel Number
FARM-000147-000000-000001
Land Assessment
$547,960
Improvements Assessment
$1,279,740
Total Assessment
$1,827,700
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65 Spring Ln
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