Major commercial-industrial landlord INDUS Realty Trust has agreed to sell five properties in Windsor’s Griffin Center for $25.2 million to three separate buyers.
The deal announced Monday includes two office buildings at 5 and 7 Waterside Crossing totaling 161,000 square feet, properties for which INDUS (then called Griffin Industrial Realty) had paused sale efforts last year due to the COVID-19 pandemic.
The sale is expected to close in the third quarter, and Griffin declined to identify the buyer, which has also agreed to purchase Griffin Center’s 21 Griffin Road North, a 46,000-square-foot office property with tenants including TRC and Carousel Technologies, and 25 Griffin Road North, an adjacent undeveloped plot of land on the overall 17-acre Griffin Road North parcel.
The total purchase price for those office properties and land is $6.6 million.
Also in Griffin Center, INDUS has agreed to sell 1985 Blue Hills Ave., which includes a 165,000-square-foot industrial building and vacant land totaling 39 acres in all to its current tenant. INDUS didn’t name the buyer, but HBJ confirmed that it is Eversource, which has leased  the property for years. The purchase price is $18 million, and the sale is expected to close in the fourth quarter, Eversource said.
Finally, INDUS has agreed to sell for $600,000 a 7,200-square-foot restaurant building at 936 Blue Hills Ave. INDUS said the buyer is the current tenant, which it did not name. However, the property appears to be leased by La Notte Waterside Grille.
INDUS said the properties have a combined remaining mortgage balance of $9.1 million, which it would repay using the sale proceeds.
While the sales would reduce INDUS’ areas office holdings, it still owns 18 industrial properties totaling over 2 million square feet in the region.