JLL closes $11 million sale of West Hartford, CT industrial facility

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

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

  

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

Email:  Kimberly.Steele@am.jll.com