A 7,400-square-foot industrial building located at 11 Industrial Road in Prospect, Connecticut, has been sold for $700,000. The property, previously the headquarters and manufacturing site for RSS Millwork LLC, was sold with the assistance of O,R&L Commercial. The new owner, entrepreneur Bill Sweet, intends to establish multiple businesses at the location.
The sale was facilitated by real estate professionals Sam Crampton and Frank Hird, both of whom are members of the Society of Industrial and Office REALTORS (SIOR). The transaction comes as RSS Millwork transitions to a larger facility in Cheshire, Connecticut, to support its growth. The company has acquired a new 30,600-square-foot industrial building at 150 Sandbank Road for $1.8 million.
Transition and Future Plans
RSS Millwork, a custom millwork manufacturer based in Prospect, has been a longstanding tenant of the sold property. The move to a larger site reflects the company’s response to increased production demands and aims to enhance operational capabilities. The company’s new facility will better support its expanding business needs.
According to O,R&L Commercial, the recently sold building was strategically positioned in the heart of Prospect’s industrial corridor. The functional layout of the property allows for a diverse range of potential uses, including light industrial, fabrication, and warehousing. This versatility presents a strong opportunity for Sweet as he prepares to launch his new ventures.
While specific details regarding the types of businesses Sweet plans to operate from the site remain undisclosed, his history as a serial entrepreneur suggests a focus on innovative and potentially diverse business models.
Market Insights and Future Developments
The industrial real estate market in Connecticut continues to show resilience, with increasing demand for properties that can accommodate various business activities. O,R&L Commercial, based in Branford and Rocky Hill, represents a broad spectrum of clients, including landlords, tenants, sellers, and buyers across multiple sectors, such as office, retail, medical, and investment properties.
As the landscape of industrial real estate evolves, the sale of this property marks a significant step in the ongoing development of the region. The transition of ownership and the planned future businesses at this site will likely contribute positively to the local economy, fostering growth and job creation in Prospect and its surroundings.
