Clarion Partners provided equity for the venture through its Clarion Partners Real Estate Income Fund Inc. (CPREIF).
Originally constructed by SunCap Property Group in 2012 and expanded in 2015, the Class A property features 31.5 ft. clear ceiling heights, 42 by 48 ft. column spacing, 72 trailer spaces, 75 long-trailer spaces and 99 dock bays specifically designed for heavy distribution uses.
The tenant has 10 years remaining on its initial lease with two, five-year options to extend its term at the distribution center where the company handles thousands of small-package ground deliveries every day throughout Connecticut and north to Massachusetts.
“Central Connecticut is an established logistics market in the northeast providing direct access to Boston and New York City, two of the most dense markets on the eastern seaboard and we are excited about the long-term prospects of this property and the strength of the South Windsor/Hartford market,” said Farkas.