Commercial real estate sales soar in New London and Windham counties
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Economic Development
Commercial real estate sales in New London and Windham counties skyrocketed in the first quarter of the year compared to the same period last year, with the number of units sold increasing from 29 to 121, according to statistics from the Eastern Connecticut Association of Realtors.
The median sale price increased a little over 20%, climbing to $275,000.
Association CEO Susy Hurlbert said she talked to Norm Peck of Pequot Commercial, who listed a couple of factors: People are leaving their jobs for their own startups, so leasing for small spaces has gone up a lot, and Electric Boat's expansion has added to the difficulty of finding industrial space in the area.
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