 |
| Jordan Avanzato |
MORRISTOWN,
NJ – JLL Capital
Markets announced it has closed the $11.2 million sale of a
111,507-square-foot, fully leased light industrial warehouse in West Hartford,
Connecticut.
JLL
marketed the property on behalf of the seller, LM Real Estate Partners. A private
investor purchased the asset.
The
light industrial warehouse is situated on 7.36 acres at 141 South St. in West
Hartford in an infill location with access to major roadways, including
Interstates 84 and 91, which serve densely populated and affluent local and
regional submarkets.
 |
| Marc Duval |
Completed
in 1990, the property is home to nine tenants and features a 22-foot ceiling
height, 16 loading docks, 10 drive-in doors and a 20% office finish.
The
property has attracted tenants by offering well-maintained, mid-size suites
with flexible unit sizes, great access and a deep workforce.
The
JLL Industrial Capital Markets team representing the seller was led by
Directors Jordan Avanzato and Marc Duval, Senior Managing
Director Jose Cruz and Associate Nicholas Stefans along with Vice
Chairman Rob Kossar and Executive Vice President James Panczykowski.
“We
continue to see demand for well-positioned light industrial warehouses with a
focus on transportation/logistics services,” Avanzato said. “Going forward, we
see a strong tailwind behind e-commerce as demand has increased, which will
further fuel the industrial sector.
 |
| Jose Cruz |
“This
specific offering provided a unique blend of stability and rent growth
potential with a strong and diverse tenant roster featuring a mix of both local
and national corporations,” he added.
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor
knowledge delivers the best-in-class solutions for clients — whether investment
advisory, debt placement, equity placement or a recapitalization.
The firm has more
than 3,700 Capital Markets specialists worldwide with offices in nearly 50
countries.
 |
| Nicholas Stefans |
Jones Lang LaSalle Americas, Inc.
("JLL") is a real estate broker licensed with the California
Department of Real Estate, license #01223413.
Contact
Kimberly
Steele,
JLL Senior Associate,
Public
Relations
Phone: +1
713 852 3420
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