ENFIELD, CT — A Hartford real estate investor has purchased an industrial building on Phoenix Avenue for $8.125 million, according to Hartford Business Journal.
Staypoint acquired the 77,768-square-foot building at 90 Phoenix Ave., which is fully leased to Manufacturing Product Systems, also known as MP Systems, HBJ reported Friday, citing land records and a company announcement.
The buyer, Scott Swamp Property LLC, purchased the property Oct. 21 from Hanover Hall Limited Partnership, according to HBJ's review of town land records and state business filings.
HBJ identified the buyer as an entity controlled by Staypoint founder Joseph A. Sullo and the seller as an entity controlled by Norwalk-based Spinnaker Real Estate Partners.
READ MORE:
The building dates to 1975 and sits on 88.78 acres adjacent to Interstate 91, HBJ reported, citing assessor records. Those records show the seller bought the property for $5 million in 1999, according to the publication.
Staypoint described the property as offering potential for future expansion, HBJ reported. The report did not identify a specific expansion project or construction timetable.
The purchase follows another Connecticut transaction for Staypoint. Earlier this month, the company sold a former Raytheon data center at 25 Holly Drive in Newington to an affiliate of the CCSU Foundation for $3.6 million, according to HBJ.
For more Northern Connecticut news, follow Patch editor Jay Kenney.
Sign up for free local newsletters and alerts for the
Enfield Patch
Patch.com is the nationwide leader in hyperlocal news.
Visit Patch.com to find your town today.