Middletown office building sold for $5.6M

MIDDLETOWN – The office building at 1 Corporate Place has been sold for $5.6 million, according to property records.

The property is 3.4 acres and the building, which was built in 1985, features 65,256 square feet of office space.

The seller was Corp One Realty LLC and the buyer was Royal Plaza LLC.

Corp One Realty bought the building in 2014 for $3.8 million.

- Advertisement -

The building’s occupants include General Dynamics Information Technology, Rite-Solutions Inc. and doctors’ offices, according to company listings.

Leasing for the building is overseen by CBRE Group Inc. The company has the office space rated as class B office space, and has office space on the building’s second floor, approximately 2,200 square feet, listed for lease at $10.95 per square foot per year.

The property was last assessed at $5.5 million. The sale closed on Jan. 31, 2020.

Chris Bergenheim is the PBN web editor. You may reach him at Bergehneim@PBN.com.