A Windsor industrial building that houses Konica Minolta Business Solutions has sold for $6 million, brokers say.
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CORRECTION: Royal Business Machines was the original tenant at 550 Marshall Phelps Road, not Konica Minolta as previously reported.
A Windsor industrial building that houses Konica Minolta Business Solutions has sold for $6 million, brokers say.
West Hartford private-equity investor The Fremont Group bought the 226,429-square-foot facility at 550 Marshall Phelps Road from Thackeray Partners. CBRE-New England represented Thackeray and brought Fremont to the deal table.
The building, off Day Hill Road and next door to headquarters for Voya Financial — formerly ING — was built in 1982, with Royal Business Machines as its original tenant. Konica Minolta later bought Royal. The building is 71 percent occupied.
“We are very excited about the opportunity and look forward to a long relationship with Konica Minolta,” Fremont Group principal Jonathan Keller said.
Fremont Group has about 3 million square feet of commercial real estate under management. Its major holdings include Metro Center in downtown Hartford, acquired in 2013; Riverview Square and the Prestige Park industrial portfolio in East Hartford.
KBE's Farmington relo
KBE Building Corp. has leased space in Pondview Corporate Center and will move late this summer into new Farmington offices a quarter-mile from its current address in town.
KBE will occupy 23,530 square feet at 76 Batterson Park Road when it relocates in mid-September from 30 Batterson Park Road, the company said. Colliers International represented landlord Fusco Farmington Associates L.P. in lease talks.
Webster's Stamford office
Waterbury regional lender Webster Bank recently opened a new Stamford branch at 760 Washington Blvd.
The 1,500-square-foot banking center is housed among The BLVD mixed-used residential complex with 344 apartments. The office has five employees and features a 24-hour walkup ATM, digital marketing display and Wi-Fi.
Waterton Residential is landlord.
Webster has 165 branches in its Connecticut, metropolitan New York and Massachusetts markets.
Crown Furniture relo
West Springfield's Crown Furniture is relocating to an Enfield shopping center.
Crown leased 26,035 square feet of retail space at 481 Enfield St. Dollar General, Whirly Ball and a comic-book store occupy the fully leased, 57,322-square-foot center, broker O,R&L Commercial said.
The family owned contemporary furniture store opened in the 1950's.
Logo's Wall'ford space
Online apparel retailer Logo Sportswear Inc. signed a long-term lease for 37,000 square feet in Wallingford.
Logo Sportswear will occupy 12 Beaumont Road, owned by GEM Property Group LLC.
Colliers International represented the landlord. Godin Property Brokers was Logo's broker.
Logo sells customized sportswear and work wear, promotional items, signs and banners.
Cricket Wireless lease
Cricket Wireless leased 2,300 square feet in a Newington strip center on the Berlin Turnpike for its 18th Connecticut telecomm store opening this summer.
Landlord RPG Harvard LLC owns the 16,780-square-foot shopping center at 2451 Berlin Turnpike.
Reno Properties LLC represented the landlord in lease talks.
Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com.
Gregory Seay is the Hartford Business Journal News Editor.
