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| 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.
Both
locations will continue to operate as is with Winstanley Enterprises as the new
landlord.
 |
| Lauren Dawicki |
“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.”
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).
 |
| Brad Ruppel |
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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