December 28, 2016

Landowner Griffin agrees to sell 67 acres at Phoenix Crossing

A property owner at the Phoenix Crossing business park that straddles Bloomfield and Windsor has agreed to sell 67 acres on the Bloomfield side of the park for about $10.25 million in cash to an unidentified buyer.

New York-based Griffin Industrial Realty, Inc., noted that completion of the transaction is not guaranteed, and contingent on the buyer obtaining needed government permits for its development plans and any possible state economic incentives.

Anthony Galici vice president and chief financial officer at Griffin, declined to disclose the prospective buyer.

Trader Joe's has expressed interest in building a $78.5 million regional distribution facility in the business park on a parcel of about that size, according to news reports and the Bloomfield assessor's office.

Manuel Goncalves, executive director of communications for KPMG, which has represented Trader Joe's on the matter, could not be reached for comment.

The 268-acre business park is home to Amazon's 1.5 million-square-foot warehouse-distribution center, which quietly sold for $105.5 million in April to German property investor Deka Immobilien. The 67 acres of undeveloped land is in an upper corner of the business park, according to the assessor's office.

In November, Griffin, a major commercial landlord with buildings and undeveloped acreage in Bloomfield, singled out Bloomfield's transparent land-use review process and sound economic-development blueprint as contributors to a recent development explosion.

Griffin owns over 3.3 million square feet in Connecticut and Pennsylvania and has land holdings totaling more than 4,500 acres in Connecticut, Massachusetts, Pennsylvania and Florida, according to its website.

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

Today's Poll Will state lawmakers raise taxes in 2017 to balance the budget?<>
Most Popular on Facebook
Copyright 2017 New England Business Media