J.C. Penney Distribution Center Acquired for Redevelopment in Manchester, CT

                                                                                                               

      

JC Penney Distribution Warehouse, 1339 Tolland Turnpike, Manchester, CT

MANCHESTER, CT – Winstanley Enterprises, LLC of Concord, MA has acquired the J.C. Penney distribution warehouse facility located at 1339 Tolland Turnpike in Manchester, Connecticut.

The property was purchased for $70 million. The two-million square-foot facility boasts high visibility and convenient interstate highway access, connecting future tenants to the largest metropolitan hubs in the Northeast. 

Adam Winstanley

Winstanley Enterprises plans to renovate the interior and exterior of the sprawling facility and transform the location into a state-of-the-art bulk warehouse and distribution center.

“This facility is one of the largest distribution warehouses on the Eastern Seaboard, and we are very excited to breathe new life into the property,” said Adam Winstanley, a Principal of Winstanley Enterprises. “We look forward to working closely with the community, creating new local jobs and offering distribution tenants a top-tier facility centrally located here in Manchester.”

Winstanley Enterprises is one of the largest owners and operators of warehouse and distribution space on the East Coast, bolstering their portfolio to over 10 million square-feet with this acquisition.

 The landlord-developer brings a track record of local success and experience from recent acquisitions and projects in Connecticut, having transformed both warehouse-manufacturing and commercial retail spaces into vibrant contributors in their communities.

In addition to the prime location of the warehouse facility, Winstanley Enterprises is excited about the adaptability of the building and plans to make significant investments in the property including a new roof, building exterior enhancements, site and signage improvements, LED lighting, updated mechanical systems and a new EFSR sprinkler system. The improvements are estimated to cost approximately $40 million.

“The existing building has some very marketable layout features, access to rail and a centralized location,” noted  Winstanley. “We feel strongly that the capital infusion our team is committing to this property will draw high-quality tenants to occupy portions of the warehouse.” 

For more information, please contact:

Matt Watkins

Watkins Strategies                                                                                            

 (617) 571-4582 (cell)