Shelton flex/industrial property sells for $9M

The flex/industrial property 1 Parrott Drive in Shelton has been sold for $9 million.

The property encompasses 102,000 square feet of modern high-tech space, with 20-foot-high glass windows, ample parking and separate entrances for each tenant. The property was 61% leased to four tenants at the time of the sale.

Sean Cahill and Will Suarez of Avison Young represented the seller, Cambridge Hanover Inc., and procured the buyer, DG One Parrott Shelton LLC, which is managed by David A. Waldman, founder and president of David Adam Realty Inc.

“This sale represents the overall health of the industrial market where strong tenant demand continues to drive investor interest in Fairfield County,” said Cahill. “Although we sold to a local buyer, inquiries from out of state investors have more than doubled in recent months after we launched marketing, it”™s like nothing I have seen in my 30-year career.”