Connecticut PPG Portfolio
DANBURY & WATERBURY
Connecticut PPG Portfolio for Sale at $2,350,000
Angel Commercial, LLC, acting as the exclusive commercial real estate broker, is pleased to offer for sale the Connecticut PPG Portfolio consisting of two fully leased properties located in Connecticut (Danbury and Waterbury). The portfolio is for sale at $2,350,000 in its entirety or as individual assets. The total portfolio offers approximately 16,601 RSF. The projected 2021 NOI is $255,314.
Pittsburgh Paint (PPG Industries) assumed all leases within this portfolio as a result of their purchase of Painter’s Supply. As a $13.8 billion, Fortune 500 company, and global supplier of paints and specialty products, PPG Industries’ acquisition of Painter’s Supply strengthens this investment portfolio.
The portfolio offers an investor a rare opportunity to acquire two net leased assets in Connecticut. Each property is well maintained and located near or on main streets with excellent accessibility, visibility, and demographics. Properties are located within high-traffic areas and are close to major highways.
- 211 White Street in Danbury, CT: The property consists of a 6,700 RSF single-story retail building on 0.42 acres conveniently located at a traffic signal at the corner of White Street and Eighth Avenue. The projected 2021 NOI is $186,624 and the sale price is $1,500,0000. This property also includes additional income from a 3,289 RSF multifamily house currently generating $38,700/annually from month-to-month agreements from three tenants.
- 1225 Thomaston Avenue, Waterbury, CT: The property is a 6,615 RSF one-story retail building on 0.67 acres with abundant parking. The projected 2021 NOI is $68,690 and the sale price is $850,000.
Angel Commercial, LLC