November 25, 2013
Deal Watch Today

Developer locks up Windsor land for Amazon

Contributed photo
Contributed photo
An Amazon fulfillment center in Phoenix, Ariz, similar to one planned for Windsor.

The developer of Amazon.com's proposed 1.5-million-square-foot fulfillment center in Windsor now has what it needs most to go forward 90 acres of undeveloped acreage fronting Day Hill Road.

New York landlord Griffin Land & Nurseries Inc., one of the biggest commercial property owners in Connecticut, said it has closed the sale of the tract straddling at 801 Day Hill Road for about $9 million with an unidentified buyer.

However, it's been an open secret since August that New York realty investor KTR Capital Partners was angling to buy the site and build-to-suit the fulfillment facility the Seattle e-tailing giant will occupy. KTR didn't immediately respond Monday to a call for comment.

Amazon is expected to invest between $100 million and $110 million in a brick-and-mortar facility in Connecticut as part of a pact in which Amazon pledged to collect and remit sales taxes for items sold to state residents through its site.

Amazon formally announced late last week its intention to occupy the fulfillment center. In connection with the land deal, Griffin and KTR each agreed to build roads linking the site to existing town roads, Griffin said.

Griffin said the sale proceeds were placed into escrow while it seeks a suitable replacement realty parcel that would be part of so-called "1031 like-kind exchange'' in which Griffin would be spared potential gains taxes from the sale.

The land is part of a 268-acre parcel straddling the Windsor-Bloomfield border, in the shadow of sprawling Griffin Park and the New England Tradeport -- both Griffin Land developments.

According to development mylars on file with Windsor's planning and development office, Amazon wants an entrance road for trucks installed on the west side of its parcel, connecting onto Blue Hills Avenue.

Another public right-of-way is proposed for the property's east side, opposite Iron Ore Road, that would extend to the front of the proposed fulfillment center, mylars show.

Griffin previously had said the land sale was contingent on the land buyer obtaining permits for its development plans and receiving municipal and state economic development incentives it deems adequate.

Windsor officials recently approved a package of incentives that will offset the cost to build and operate the facility.

Read more

CT nursery sale pushes Griffin into the red

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