Business office equipment supplier Konica Minolta, which has been downsizing its presence in Windsor over the years, is preparing to sell its Day Hill Road office building via online auction. The company’s Class A, 99,000-square-foot office property at 500 Day Hill Road is scheduled to go up for auction Feb. 15-17, through website Ten-X. The […]
Business office equipment supplier Konica Minolta, which has been downsizing its presence in Windsor over the years, is preparing to sell its Day Hill Road office building via online auction.
The company’s Class A, 99,000-square-foot office property at 500 Day Hill Road is scheduled to go up for auction Feb. 15-17, through website Ten-X. The opening bid price is $800,000.
According to a property description, the sale includes a two-year lease to Konica Minolta for approximately 47% of the building.
“New ownership will be able to capitalize on an excellent value-add opportunity through leasing up the remaining vacancy in this high-end office building, or utilizing the space to expand their business while enjoying passive income from the Konica Minolta lease,” marketing materials for the property said.
The property is also being marketed to investors/developers interested in industrial redevelopment. The listing notes that the Greater Hartford industrial market currently has a vacancy rate of 5.1%, below the region’s historical average.
Konica Minolta in recent years has shrunk its Connecticut presence, including through layoffs. In 2015 it sold for $6 million a Windsor warehouse it previously owned at 550 Marshall Phelps Road. That property traded hands again in 2020, when Sardilli Produce & Dairy Co. purchased it for $9.5 million.
Konica Minolta’s three-story Day Hill Road property sits on 20.64 acres, was constructed in 1982 and renovated in 2010.
Amenities include two backup generators, a cafeteria with a large dining room, and an outdoor patio backing up to an on-site pond. The property is located less than 1.5 miles from I-91, and 5 miles from Bradley International Airport.
