Leading Connecticut commercial landlord Griffin Land & Nurseries Inc. said Wednesday increased leasing at some of its signature Hartford area industrial properties helped narrow its third-quarter loss.
The New York-based nursery retailer and landowner lost $1.3 million, or 26 cents a share, in the three months ended Aug. 28. Griffin lost $1.4 million, or 28 cents a share, the comparable period last year.
Third-quarter revenue dropped to $7.5 million vs. $7.7 million a year ago.
Windsor’s Griffin Park office-industrial campus and the New England Tradeport warehouse park in Granby are crown jewels in its Connecticut property portfolio.
The completion of build-to-suit warehouses at the tradeport and filling of vacant space in other properties boosted its rental income in the latest quarter, Griffin said.
Offsetting gains in the rental business were accelerating losses in Griffin’s struggling Imperial Nurseries division, led by losses from unsold plants and other nursery inventory, the company said.
