158 Pines Bridge Road in Beacon Falls, Connecticut — Courtesy: Devli Real Estate
By Joshua Burd
Devli Real Estate has added to its portfolio in the region with the acquisition of a 176,000-square-foot industrial building outside New Haven, Connecticut.
The Weehawken-based firm said the facility at 158 Pines Bridge Road in Beacon Falls sits on 32 acres along the Route 8 corridor, providing strong access to major interstates connecting to Boston and New York City. It also cited the region’s low vacancy rates, rising rents and positive absorption, noting that the building was fully occupied at the time of the deal.
“We are proud to expand our presence in Connecticut with 158 Pines Bridge Road in Beacon Falls,” said Mark Devli, chief investment officer of Devli Real Estate. “This acquisition adds to our growing portfolio and demonstrates our commitment to further expand in the state.”
Terms were not disclosed.
“We extend our gratitude to Lenny Pierce, David Coffman, Christopher Crowe and the team at JLL for facilitating this transaction,” said Edwin Lebron, a development manager at Devli. “Our success is ultimately rooted in these relationships as we continue to expand and deepen our footprint in the region.”
Winne Banta Basralian & Kahn provided legal services.
