Saturday, February 1, 2020

Winstanley Enterprises Continues Growth of Logistics Platform Throughout New England


Adam Winstanley

Concord, MA – Winstanley Enterprises LLC, one of the largest regional owners and operators of commercial real estate in New England, kicked off 2020 with a 460,000 square foot Class A warehouse and distribution acquisition in South Windsor, CT.

 The two properties, located at 135 and 175 Sullivan Avenue, were purchased for $44 million.

Situated on over 30-acres, the properties were constructed in 2015 and consist of a 292,000 square foot dry goods distribution center leased to Mobis Parts of America (a wholly owned subsidiary of Hyundai MOBIS) and a 168,000 square foot cold storage distribution center leased to Performance Food Group, Inc., a publicly traded foodservice company with $18B in annual revenues.


Lauren Dawicki 
Both locations will continue to operate as is with Winstanley Enterprises as the new landlord.

“This not only adds two premier properties to our portfolio, but also expands our logistics platform which has been an active sector for us,” said Adam Winstanley, a principal of Winstanley Enterprises.

 “We feel strongly about the long-term viability of warehouse and distribution properties.

 "Additionally, this is another location within the Interstate-91 corridor which is centrally located between New York and Boston, has favorable labor availability, and is within close proximity to airports and rail.”


Brad Ruppel 
Collectively 135 and 175 Sullivan Avenue are state-of-the art facilities, providing Class A, highthroughput efficiencies via concrete construction, 30’ - 32’ clear height, 57’ - 60’ deep loading bays, and an average loading ratio of +/- 8,500 rentable square feet per door (expandable to +/- 7,600).

Interior fit-outs include T-5/LED lighting, ESFR fire suppression systems, and many other modern and energy efficient amenities.

The acquisition was announced on January 30, 2020 and is the latest addition to the growing Winstanley logistics platform that now totals 8 million square feet.

 This purchase comes on the heels of Winstanley’s 975,000 square foot lease to Ahold Delhaize (executed December 2019) at Winstanley’s 2 million square foot Manchester, CT distribution center.

The brokers in the transaction were Brad Ruppel and Lauren Dawicki of CBRE, Inc.

Contact:

 Sean Shortell
Watkins Strategies
 781-720-9726 (cell)


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