Great River Corporate Center—Under Contract

Cushman & Wakefield, as exclusive advisors, is pleased to present for sale Great River Corporate Center, located at 440 Wheelers Farm Road in Milford, CT.

Situated on 11.86 acres, Great River Corporate Center is a 4-story Class A office building totaling 168,251 SF. Originally constructed in 1988, the property underwent a $10 million renovation project starting in 2020 bringing the property to modern standards and establishing itself as the premier office building in the Milford market. Renovations include a new lobby, new common areas and bathrooms, a new roof, new heating and cooling systems, and LED lighting upgrades. In addition, a state-of-the-art amenity area including a cafeteria and fitness center have been designed, and the early stages of construction are underway. Great River Corporate Center is currently 17% leased to three tenants and is anchored by Connoisseur Media.

The Milford office market contains approximately 1.6 MSF of Class A and B office space, 94% of which was built prior to 1990 and is inferior compared to Great River Corporate Center in regard to design, building systems and amenities. Milford generally competes against the neighboring Shelton and Trumbull office markets, which consist of a wide tenant base in the consumer product, finance, professional services, and defense/aerospace industries. Milford is also a hub for medical office space given its proximity to the world-renowned Yale-New Haven Hospital with large clinical operations for Yale-New Haven Health and Hartford Healthcare, as well as numerous specialty practice groups.

Great River Corporate Center’s convenient location on Wheelers Farm Road provides excellent connectivity between I-95 (1.0 mile) and the Merritt Parkway (0.3 mile), the region’s most heavily trafficked roadway. Great River Corporate Center also provides convenient access to Milford’s Route 1 retail corridor, which includes over 5.5 MSF of retail amenities including the 1.3 MSF Connecticut Post Mall, the largest mall in the state. A who’s who of national retailers have a presence in Milford including Target, Walmart, Costco, Whole Foods, Trader Joes, Stop & Shop, HomeGoods, Barnes & Noble, Petco, Old Navy, Macy’s and Dick’s Sporting Goods. This corridor is also home to abundant eateries, gyms and personal services and is one of the busiest retail corridors in Connecticut.

Great River Corporate Center provides investors or owner-users with a substantially renovated Class A office building well below replacement cost that is well positioned for significant value created through a successful lease-up of the currently available space.