W. E. Bassett Property Sells
Shelton, CT — It was announced today that the former headquarters and warehouse facility for the W. E. Bassett Company has been sold. Cambridge Hanover LLC has acquired the property located at 100 Trap Falls Extension in Shelton Connecticut. Founded in 1990, Cambridge Hanover is a privately held industrial real estate investment firm that acquires investment opportunities in the market of bulk distribution warehouses and light assembly buildings. The building is 83,000 square feet and is situated on 10 acres, and sold for $3,321,895 or $40.00 per square foot. The seller, W E Bassett had been in the Shelton area since the founder William Bassett started the company in 1939.They had maintained a manufacturing building in Derby which Vidal/Wettenstein had sold in 2011 to an end user.
Bruce Wettenstein, SIOR and Partner with Vidal/Wettenstein was the listing broker, and Sean Cahill, Senior Vice President of CBRE represented the purchaser.Counsel for the seller was Scott Miller, Esq, of Bingham McCutchen LLP, Hartford, and for the purchaser.