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August 12, 2022 REAL ESTATE

Shelton Research Drive facility sold for $2.4 million

Photo | Costar 2 Research Drive, Shelton
By Hanna Snyder Gambini

An industrial building at 2 Research Drive in Shelton recently sold for $2.4 million.

Southport-based BLCR Holdings LLC and principals William M. Raveis Jr. and Daniell Farr sold the site to Research Drive Development, LLC/ Barone Properties and principal Biagio Barone in a deal recorded July 13.

BLCR has owned the building since 2013, according to town records.

The 5-acre site contains a one-story 55,000-square-foot manufacturing facility built in 1985, which was vacant at the time of the sale.

It is marketed as an industrial distribution or manufacturing space with heavy power and three exterior docks. 

The building is able to expand to 80,000 square feet, according to the listing. The property has 126 standard parking spaces and is close to Commerce Drive and Huntington Street near Route 8. 

The building is appraised at about $2.2 million, with a total property appraised value of $3 million.

Contact Hanna at hgambini@hartfordbusiness.com


 

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