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February 10, 2023 REAL ESTATE

Clinton group buys Guilford property and secures long-term tenant

PHOTO | CONTRIBUTED 320 Soundview Road, Guilford.
By Hanna Snyder Gambini

A Clinton-based property group was able to purchase a new building in Guilford and secure a tenant for a long-term lease.

PBA Properties LLC and principal Dan Secondino bought a 14,400-square-foot building at 320 Soundview Road in Guilford in September for $1.39 million.

The building has long served as the Connecticut outpost of Texas-based FlexXray, which performs x-ray inspection of food products. 

FlexXray was purchased in 2021 and the new owners plan to close the Connecticut location.

As PBA Properties was looking for a building in which to invest, Guilford-based George Schmitt & Company approached The Geenty Group, Realtors, for assistance in finding a location for their expanding operations, which have outgrown their present building on Boston Post Road. 

The 149-year-old firm specializes in pressure sensitive labels, shrink sleeves, flexible packaging, RFID embedded labels and security printing. 

With FlexXray soon vacating the Soundview Road site and PBA Properties seeking a new tenant for the building, the timing worked for all parties involved, said Geenty Group partners. 

The two parties agreed to a three-year lease for the 14,400-square-foot building, with a three-year option at the end of the initial term.

Kevin Geenty represented the landlord and Kristin Geenty represented the tenant. They said,  “It’s always fun when we can bring our different clients together to broker a transaction that meets the needs of all involved.”

Contact Hanna at hgambini@hartfordbusiness.com.

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