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Office Medical

Innovation Park | New Haven MSA

246 Goose Ln, Guilford, CT 06437

Listing Price: $9,400,000

Cap Rate
8.15%
Gross SF
56,564
Rentable SF
56,564
Price/Gross SF
$166.18
Occupancy
100.0%
Year Built
1999
Lot Size
8.59 acres

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Innovation Park, located at 246 Goose Lane, Guilford, Connecticut. Innovation Park is a 56,564 SF, 100% occupied multitenant office property built in 1999 with a unique, high-quality tenant mix located in the New Haven MSA. The major tenant, Thermo Fisher Scientific, occupies nearly half of the building and has an investment grade credit rating of BBB+ (S&P). The remainder of the building is occupied by medical tenants, surgery centers, a bank, financial advisors, and attorney offices. The majority of tenants have annual escalations and several have occupied the building for over 10 years. The subject property rests on approximately 8.59 acres and is positioned within less than a quarter of a mile of both Yale New Haven Shoreline Medical Center and the I-95 intersection (57,400+ VPD.) The surrounding area features strong demographics, with the average household income being over $168,400 within a 5-mile radius, well above the national average. Home to Yale University and located adjacent to the northern shore of the Long Island Sound, the New Haven metro encompasses all of New Haven County in central Connecticut. The metro has a total population of approximately 859,000 residents and is expected to welcome 5,100 additional citizens through 2026. New Haven is the most populous city, with 130,000 people, followed by Waterbury, with roughly 110,000. The area features some of the wealthiest communities in the country, including the cities of Cheshire and Woodbridge.

Investment Highlights

  • 100% Occupied Multitenant Medical Office Located in New Haven MSA | E-Commerce & Recession Proof Tenant Mix
  • 56,564 SF | 8.59 Acres | Major Tenants Include Thermo Fisher Scientific & Guilford Surgery Center
  • Thermo Fisher Scientific has Investment Grade Credit Rating of BBB+ (S&P) | 10+ Year Historical Occupancy | $100,000 in TI's in 2021
  • Staggered Lease Rollover | Majority of Leases Feature Annual Escalations | Value Add by Converting Leases to NNN | Rare Opportunity to Acquire a Class A, Multitenant Office with Medical & Credit Tenants at Near Full Occupancy
  • Less than ¼ a Mile to Yale New Haven Shoreline Medical Center | Less than 20 Minutes to Downtown New Haven | Strong Demographics | Average Household Income is $168,400 within a 5-Mile Radius

Exclusively Listed By

Office Medical

Innovation Park | New Haven MSA

Listing Price: $9,400,000

Cap Rate
8.15%
Gross SF
56,564
Rentable SF
56,564
Price/Gross SF
$166.18
Occupancy
100.0%
Year Built
1999
Lot Size
8.59 acres

Investment Highlights

  • 100% Occupied Multitenant Medical Office Located in New Haven MSA | E-Commerce & Recession Proof Tenant Mix
  • 56,564 SF | 8.59 Acres | Major Tenants Include Thermo Fisher Scientific & Guilford Surgery Center
  • Thermo Fisher Scientific has Investment Grade Credit Rating of BBB+ (S&P) | 10+ Year Historical Occupancy | $100,000 in TI's in 2021
  • Staggered Lease Rollover | Majority of Leases Feature Annual Escalations | Value Add by Converting Leases to NNN | Rare Opportunity to Acquire a Class A, Multitenant Office with Medical & Credit Tenants at Near Full Occupancy
  • Less than ¼ a Mile to Yale New Haven Shoreline Medical Center | Less than 20 Minutes to Downtown New Haven | Strong Demographics | Average Household Income is $168,400 within a 5-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Innovation Park, located at 246 Goose Lane, Guilford, Connecticut. Innovation Park is a 56,564 SF, 100% occupied multitenant office property built in 1999 with a unique, high-quality tenant mix located in the New Haven MSA. The major tenant, Thermo Fisher Scientific, occupies nearly half of the building and has an investment grade credit rating of BBB+ (S&P). The remainder of the building is occupied by medical tenants, surgery centers, a bank, financial advisors, and attorney offices. The majority of tenants have annual escalations and several have occupied the building for over 10 years. The subject property rests on approximately 8.59 acres and is positioned within less than a quarter of a mile of both Yale New Haven Shoreline Medical Center and the I-95 intersection (57,400+ VPD.) The surrounding area features strong demographics, with the average household income being over $168,400 within a 5-mile radius, well above the national average. Home to Yale University and located adjacent to the northern shore of the Long Island Sound, the New Haven metro encompasses all of New Haven County in central Connecticut. The metro has a total population of approximately 859,000 residents and is expected to welcome 5,100 additional citizens through 2026. New Haven is the most populous city, with 130,000 people, followed by Waterbury, with roughly 110,000. The area features some of the wealthiest communities in the country, including the cities of Cheshire and Woodbridge.

Exclusively Listed By

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