Sill Lane Properties Acquires Middletown, CT Industrial Building for $3.5 Million in Colliers-Brokered Deal
MIDDLETOWN, Conn. — Sill Lane Properties, LLC has purchased a 32,000-square-foot industrial building at 2303 South Main Street in Middletown, Connecticut for $3.5 million. Yalesville Properties was the seller in the transaction, which closed July 24, 2026, with Philip Gagnon of Colliers representing the buyer.
The deal implies a price of approximately $109 per square foot for the infill industrial asset.
Property Features and Site Characteristics
The building sits on 3.8 acres, yielding a site coverage of roughly 19 percent — a ratio that provides substantial yard area and parking capacity relative to the building footprint. The property is located near Interstate 91 and Route 9, offering access to the broader Central Connecticut highway corridor.
Key functional features include heavy power, approximately 20-foot clear ceiling height, a flexible loading platform, and a new asphalt parking lot. The 20-foot clear height positions the asset for regional and local distribution, flex, and light production uses rather than large-scale bulk logistics, which typically requires 32 to 40 feet of clearance. The flexible loading platform accommodates a range of industrial occupiers, from last-mile logistics operators to light manufacturers. The recently completed parking lot reflects recent capital investment in the asset.
Market Context: Central Connecticut Industrial Demand
The transaction reflects ongoing demand for functional mid-size industrial buildings in infill locations along Central Connecticut's primary highway corridors. Elevated construction costs and financing conditions have made acquisitions of existing buildings an economical alternative to new development for many users, sustaining demand for assets like 2303 South Main Street. The property's proximity to I-91 and Route 9 positions it within a regional distribution radius serving Greater Hartford and connecting to broader Northeast markets.
Mid-bay industrial buildings with heavy power, flexible loading, and highway access represent a segment of the Central Connecticut market that has drawn interest from owner-users, regional distributors, and light manufacturers seeking to secure space amid limited new supply in infill submarkets.
Transaction Parties
Yalesville Properties, the seller, divested the Middletown asset in this transaction. Sill Lane Properties, LLC is the acquiring entity. Colliers, through Philip Gagnon, advised the buyer side of the deal.
Colliers operates in 64 countries with approximately 17,000 professionals and reports annual revenues of $4.3 billion, with more than $65 billion of assets under management.