225 Sand Road in Fairfield — Courtesy: JLL
By Joshua Burd
The site of a nearly 170,000-square-foot light industrial building in Fairfield is on the market for sale, providing what brokers say is a value-add opportunity in a tight submarket.
According to JLL, which represents the would-be seller, the 17.26-acre tract at 225 Sand Road is home to a facility with 69,862 square feet of warehouse space and a two-story, 99,4920-square-foot office component. It’s also adjacent to Interstate 80 and less than 10 miles from Interstate 287, adding to the appeal for prospective investors.
The asset is projected to sell for around $25 million.
“The property is currently owner-occupied with the intention to vacate upon sale,” JLL wrote in its offering materials. “225 Sand Road presents a unique opportunity to acquire a light industrial asset with strong industrial repositioning potential and immediate lease-up upside in the supply-constrained Fairfield submarket.”
JLL’s Marc Duval, Jordan Avanzato, Nicholas Stefans, Jose Cruz, Jason Lundy and Conor Walsh are marketing the property with support from Max Custer and Jenna Imperatore of the firm’s financing and leasing teams, respectively. They cited the property’s flexible light industrial zoning, which would allow a buyer to convert the office component to additional warehouse space in a submarket that has a vacancy rate of 2 percent and triple-net asking rents of $22 per square foot.
The existing warehouse space has 23-foot clear ceiling heights, along with six loading docks and one drive-in door.
