Fairfield, CT — It was announced today that 515 Commerce Drive in Fairfield Connecticut has been sold to 515 Commerce Drive, LLC, a real estate company created for Tile America. The industrial building is 19,830 square feet on 1.09 acres of land. The property sold for $2,150,000 or $108.42 per square foot. 5N Plus will remain in half of the facility for their East coast offices and production distribution center. The new owner will occupy the balance of the building for Tile America, after they renovate the space for their new showroom and warehouse. 5n had purchased Metal Specialties and merged the business into their Canadian operation
Tile America has been located at 760 Kings Highway for over 40 years. Although the showroom has been renovated and expanded several times, this marks the first move in Fairfield for the 9 location retailer. Brian Knies, 2nd generation owner of the CT based family business stated, “This is an exciting move for us. We will have a beautiful new showroom along with a more functional location for our retail and trade customers.”
Bruce Wettenstein, SIOR & Partner with Vidal/Wettenstein was the listing broker and negotiated the sale. Counsel for the seller was Jennifer Egan and Keith Varian of the law firm of Murtha Cullina LLP, Stamford and Hartford. Counsel for the purchaser was Jim Strub of Secor Cassidy & McPartland PC, Waterbury.
