January 18, 2017
Deal Watch Today

CT tops in Winstanley's $124M realty deal

Lego's North American headquarters, 300 Shaker Road, Enfield, is trading hands.

One of New England's biggest commercial landlords is deepening its bet on the U.S. future of electronic and rapid commerce with its $124 million purchase of a pool of warehouse-distribution properties primarily in northern Connecticut and southern Massachusetts.

Winstanley Enterprises announced its acquisition this week of 10 commercial properties, including toy-block maker Lego's U.S. headquarters building in Enfield (300 Shaker Road), from Los Angeles realty investor Hackman Capital Properties LLC.

"We think this group of properties … would be a good, strategic fit for the investments we're making in Connecticut,'' said Adam Winstanley, a principal in the family owned developer based in Concord, Mass.

In Connecticut, Winstanley owns a number of office, commercial-industrial, and retail properties. It opened last year the towering, gleaming $200 million New Haven office tower that houses headquarters for Alexion Pharmaceuticals.

In Windsor, Winstanley owns acreage already zoned and approved for a multi-phase, residential-commercial development known as Great Pond. Adam Winstanley said that project is slated to break ground this spring on the first development, a 300-unit apartment community.

Winstanley did not break out the pricetag of each property acquired from Hackman Capital, but said they include in Connecticut:

  • Bloomfield (one property): 74 Griffin Road South, a 450,000-square-foot lumber warehouse fully leased to Home Depot.
  • Enfield (five properties): 300 Shaker Road, Advanced Auto Parts' approximately 500,000-square-foot northeast distribution facility; 99 Print Shop Road, a 75,000-square-foot medical-manufacturing building fully leased to Cirtec Medical; 100 Print Shop Road, a 600,000-square-foot office-warehouse/distribution facility fully leased to Lego and Coca-Cola Bottling; 555 Taylor Road, Lego's 100,000-square-foot current U.S. headquarters; 561 Taylor Road, Lego's former 8,000-square-foot daycare facility now leased to a third party.
  • Plainfield (one property): A vacant, 530,000-square-foot warehouse-distribution building at 85 Moosup Pond Road. Staples previously occupied the building for seven years, vacating it last year.

Winstanley's Massachusetts purchases include:

  • Chicopee (two properties): 1040 and 1045 Sheridan St., both industrial buildings, each with about 65,000 square feet. 1040 Sheridan is leased to custom manufacturer MedPlast; 1045 Sheridan houses restaurant chain Friendly's distribution center.
  • Westfield (one property): 111 Southampton Road, a 600,000-square-foot distribution facility fully leased to Excel Logistics/Ed Hollingsworth.
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