Key Takeaways
- • Albany Road Strategic Opportunity Fund LLC, a private equity real estate vehicle managed by Albany Road Real Estate Partners of Dedham, Massachusetts, purchased 260-284 Quarry Road in Milford for $10 million from LM Quarry Road II LLC, according to broker CBRE.
- • The 85,821-square-foot, two-building shallow-bay industrial complex on 7.74 acres is 100% leased to a diverse tenant roster including Service Source Inc., RCW USA, Onofreo Home Comfort Systems and City Floors of New England.
- • The $10 million price represents a gain over the seller's $7.45 million acquisition in 2020 and sits well above the property's $5.79 million appraisal in 2025, per city property records.
- • CBRE's Jeff Dunne, Steve Bardsley and Travis Langer, with Matthew O'Hare of the New Haven office, represented the seller and procured the buyer.
Summary
Albany Road Strategic Opportunity Fund LLC, a private equity real estate investment vehicle managed by Albany Road Real Estate Partners and based in Dedham, Massachusetts, recently acquired 260-284 Quarry Road in Milford for $10 million from LM Quarry Road II LLC, an entity managed by LM Real Estate Partners, according to broker CBRE.
The property is a two-building shallow-bay industrial complex totaling 85,821 square feet on 7.74 acres. It is fully leased to a diversified group of tenants, including Service Source Inc., RCW USA, Onofreo Home Comfort Systems and City Floors of New England. CBRE SVP Steven Bardsley said the asset is "well-positioned in this historically strong market to maintain high occupancy and create upside due to rising rental rates."
CBRE's team of Jeff Dunne, Steve Bardsley and Travis Langer, working with Matthew O'Hare of the firm's New Haven office, represented the seller and procured the buyer. According to city property records, LM Quarry Road II acquired the property for $7.45 million in 2020, and it was last appraised at $5.79 million in 2025.
CBRE Institutional Properties Group is also marketing several other assets, including the Central New Jersey Industrial & Office Park, a 247,608-square-foot, 13-building portfolio in Marlboro, New Jersey; the Novartis Pharmaceutical headquarters, a 19-building, 1,188,005-square-foot lab, data center and office complex in East Hanover, New Jersey, offered for sale or partial leaseback; American Lane, a 155-acre site in Greenwich with a 620,000-square-foot office building approved for 198 townhomes; and CityPlace I, a 38-story, 878,255-square-foot Class A value-add office tower in Hartford.
The property is a two-building shallow-bay industrial complex totaling 85,821 square feet on 7.74 acres. It is fully leased to a diversified group of tenants, including Service Source Inc., RCW USA, Onofreo Home Comfort Systems and City Floors of New England. CBRE SVP Steven Bardsley said the asset is "well-positioned in this historically strong market to maintain high occupancy and create upside due to rising rental rates."
CBRE's team of Jeff Dunne, Steve Bardsley and Travis Langer, working with Matthew O'Hare of the firm's New Haven office, represented the seller and procured the buyer. According to city property records, LM Quarry Road II acquired the property for $7.45 million in 2020, and it was last appraised at $5.79 million in 2025.
CBRE Institutional Properties Group is also marketing several other assets, including the Central New Jersey Industrial & Office Park, a 247,608-square-foot, 13-building portfolio in Marlboro, New Jersey; the Novartis Pharmaceutical headquarters, a 19-building, 1,188,005-square-foot lab, data center and office complex in East Hanover, New Jersey, offered for sale or partial leaseback; American Lane, a 155-acre site in Greenwich with a 620,000-square-foot office building approved for 198 townhomes; and CityPlace I, a 38-story, 878,255-square-foot Class A value-add office tower in Hartford.
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