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Lego letting go of Connecticut office
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Developer buys Connecticut warehouse for $122M
Winstanley Enterprises’ purchased property is leased by Amazon
An Amazon-leased warehouse in Windsor traded hands in a deal that could prove to be one of the largest of the year in Connecticut.
Massachusetts-based Winstanley Enterprises purchased the industrial facility at 200 Old Iron Ore Road for $122.3 million, the Hartford Business Journal reported. The seller was German investor Deka Immobilien, which itself purchased the property for $106.5 million in 2016.
The sale of the 1-million-square-foot distribution center breaks down to $122.30 per square foot. The facility on the 89-acre parcel was completed within the last decade.
Amazon has multiple warehouses in Windsor. In the last year, it also opened a robotic fulfillment center on Kennedy Road.
Winstanley played the role of both buyer and seller in Windsor this month. Prior to its affiliate purchasing the Old Iron Ore Road warehouse, Winstanley sold a 94-acre property in the Great Pond Village master planned development to NorthPoint Development for $43.5 million; NorthPoint is building a 530,000-square-foot industrial property of its own, which will be used as as refrigerated warehouse by Target.
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Lego letting go of Connecticut office
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Developer buys 300 acres in Connecticut for $78.5M
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Not every recent real estate development in Connecticut has been kind to Winstanley. This year, Lego announced it would move its corporate offices from Enfield to Boston by 2026, starting the relocation process for its 740 Enfield employees in 2025. Lego is leaving 100 Print Shop Road, which is owned by Winstanley.
On the Connecticut industrial front, another Massachusetts developer made a move at the start of the year. National Development purchased 300 acres in East Hartford from Pratt & Whitney for $78.5 million, setting its sights on two warehouses and two manufacturing centers, as well as two research and development buildings.
The company broke ground on the project in March and is aiming to complete the project by the end of next year, bringing thousands of jobs to the community.
— Holden Walter-Warner