Major Connecticut commercial landlord Griffin Land & Nurseries Inc. narrowed its fiscal third-quarter loss due to higher revenue, which included deferred proceeds from the sale of 90 Windsor acres a year ago to Amazon.com.
For three months ended Aug. 31, the New York operator of several large suburban Hartford office and industrial campuses had a net loss of $172,000, or 3 cents a diluted share, vs. a net loss of $929,000, or 18 cents a diluted share, the comparable quarter a year ago.
Third-quarter revenues were $6.1 million vs. $5.5 million last year.
Griffin, which in January sold its Imperial Nurseries business, sold acreage to Amazon.com for its 1.5 million-square-foot fulfillment center under construction off Day Hill Road in Windsor.
Griffin said a condition of the sale is that it and Amazon will contribute toward the cost of constructing roads linking the fulfillment-center site to existing town roads.
During the latest quarter, Griffin said it finished its “spec’’ 304,000-square-foot industrial building, its second in Pennsylvania’s Lehigh Valley.
Griffin also said it signed an unidentified tenant to a five-year lease covering 201,000 square feet in the new building.
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