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December 31, 2024

Former Marvin distribution center in Enfield sells for $5M

CoStar Niblick Road, Enfield
By Michael Puffer

Window and door manufacturer Marvin recently sold its Enfield distribution center to a Georgia buyer for $5 million following intense interest from multiple buyers. 

Marvin Enfield LLC sold the 48,105-square-foot, light industrial building on 5.1 acres at 1 Niblick Road to Acworth, Georgia-based Tokyo Trading Corp., in a deed recorded by the town on Dec. 17.

The buyer is a division of TT Global, according to Shawn McMahon, managing director with Jones Lang LaSalle, who brokered the deal.

This Dubai headquartered multinational company collects used and surplus IT devices from developed countries and sells them in emerging markets. 

“They are new to the market, which I think is great for the area,” McMahon said. 

Attempts to reach a TT Global representative were not immediately successful Tuesday morning. 

The property sold at about $100 per square foot following intense buyer interest and a competition between bidders, McMahon said. The sale closed about two months after the property went on the market, he said. He hopes the high selling price convinces other potential sellers to explore their options. 

Marvin has taken great care of the 1998-vintage building, McMahon said. It has a very nice office area, is in a great location close to highway access and has good parking capacity, he noted. There are also few “smaller” logistics buildings available in the area, he said.

Earlier this year, Marvin confirmed plans to move its distribution center from Enfield into a newly built 185,600-square-foot logistics center in Windsor. It will lease that new location. 

The new Windsor location will serve the Minnesota-based window and door manufacturing company’s area dealer partners. The company said additional space was needed to meet current and anticipated demand.

Marvin has engaged in a short-term leaseback of the Enfield property as it completes its move to the new Windsor location, McMahon confirmed. 
 

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