This is a nine building office and retail portfolio that must be purchased in its entirety. The cap rate is based on the 2024 P&L. We anticipate the income to be down slightly in 2025 resulting in a cap rate in the 7.0% to 7.2% range.
The buildings are located at 435 Buckland (Brandywine & Rosewood buildings), 465, 475, 479, 481,491 & 497 Buckland Road along with 152 Deming Street and a vacant land parcel at 467 Buckland Road.
The buildings are currently 96% leased. There are two spaces currently under lease (1,213 & 1,470 sf) to tenants planning to relocate in the fall of 2025. One tenant is building its own building. The other, a physical therapist, is moving to a handicapped accessible space as we did not have handicapped accessible space for them in the portfolio. We have 4,515 sf under lease through 11/30/25 where the tenant is not currently paying rent.
Located in the heart of South Windsor on Buckland Road, one of the Town’s main retail and office arteries.
One Retail building and 8 Office buildings totaling roughly 65,000 gross square feet.
Development is rapidly stretching down Buckland Road from 1-84 to this property with a new Costco, Whole Foods, Chipotle, Shake Shack and Club Studio, recently opening less than a half mile away.
For many years much of Buckland Road was farms and residences. Most of these properties have been redeveloped into retail, big box retail, banks, medical and office uses. Vacant land is scarce, and the demand for space in the area is strong.
This portfolio offers an entry point into a rapidly expanding area. The 497 Buckland Road building is a cape house that offers excellent redevelopment potential as a ground lease for a retail pad site user or for larger office/retail development. The site was approved in 2011 for a three-story 16,800 square foot brick medical/office building. That approval has since lapsed but could potentially be revived.
The portfolio Is sited on 12.3 acres of land in the Center of Town adjacent to the Super Stop & Shop, CVS/Pharmacy and Five Corners.
Tenants include Key Bank, Coldwell Banker, Buckland Grill, Sawadee Thai, Open MRI of Buckland Hills along with numerous wealth managers, lawyers, accountants, medical users and other office tenants.