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July 26, 2021 / 2021 Power 25 Real Estate

2021 Power 25 Real Estate: The Winstanleys

PHOTO | COSTAR Winstanley owns J.C. Penney’s former Manchester distribution center, which now boasts Amazon as a tenant.
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Connecticut’s hot industrial real estate market — spurred by demand for last-mile warehouse space from e-commerce giants like Amazon — has been a boon to the state’s economy, kick-starting job creation and new construction across the region.

And few have capitalized on the growing industry like David Winstanley and his sons, Adam and Carter.

Owners of the family-run realty shop, Winstanley Enterprises LLC, the Massachusetts-based firm is Connecticut’s largest owner of warehouses.

Adam Winstanley

The family, which has offices in Hartford, New Haven and Bristol, solidified its local prowess in 2020 by buying J.C. Penney’s former Manchester distribution center and spending $44 million on a pair of abutting food distribution and storage facilities in South Windsor, which were later sold off.

In April of this year Winstanley announced that it sold a portfolio of 11 Stop & Shop-anchored properties, including three in the Nutmeg State, for $295 million.

And it recently landed Amazon as the anchor tenant at the former Nabisco warehouse property in Glastonbury, which Winstanley purchased in Sept. 2020 for $4.4 million.

Carter Winstanley
David Winstanley

Meanwhile, Winstanley recently kicked off construction on a $100 million bioscience tower in New Haven that will add another 500,000 square feet of laboratory and life-sciences incubation space in the Elm City.

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