Indus Realty Trust, long a major force in industrial development north of Hartford, has recently sold a roughly 641,000-square-foot portfolio of industrial buildings in East Granby, Windsor and Bloomfield
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Indus Realty Trust, long a major force in industrial development north of Hartford, has recently sold a roughly 641,000-square-foot portfolio of industrial buildings in East Granby, Windsor and Bloomfield.
Most are located in the New England Tradeport, a logistics-heavy industrial development on the East Granby and Windsor line near Bradley International Airport.
JLL Capital Markets, which represented Indus, announced the sale this week.
The portfolio is 98% occupied by 19 tenants across multiple industries, including e-commerce, logistics and distribution, automotive, manufacturing and food production, according to JLL.
The buildings average 71,292 square feet. Some are leased to a single tenant, while others house multiple occupants, with suite sizes ranging from about 5,000 square feet to 58,000 square feet, JLL said.
Most of the properties are located within the Bradley Airport Development Zone, where tenants may qualify for tax incentives, according to JLL.
John Huguenard, Michael Restivo, David Coffman and Tommy Hovey from JLL represented the seller. Shawn McMahon of JLL provided local leasing and sales support and will continue to manage leasing for the portfolio going forward.
The buyer and sale price were not disclosed.
INDUS declined comment. JLL did not immediately respond to inquiries Wednesday. Land records reflecting the transaction had not been recorded as of Wednesday morning.
According to CoStar, the recently sold portfolio includes:
· 131 Phoenix Crossing, Bloomfield – a 30,640-square-foot, 1997-vintage industrial building on 5.65 acres.
· 14 International Drive, East Granby – a 39,624-square-foot, 1983-vintage light industrial building on 5.26 acres.
· 15 International Drive, East Granby – a 45,344-square-foot, 1978-vintage warehouse on 4.68 acres.
· 16 International Drive, East Granby – a 58,668-square-foot, 1979-vintage light industrial building on 4.5 acres.
· 20 International Drive, Windsor – a 99,840-square-foot, 1999-vintage warehouse on 12.81 acres.
· 25 International Drive, Windsor – a 57,218-square-foot, 2001-vintage warehouse on 7.6 acres.
· 35 International Drive, Windsor – a 98,420-square-foot, 1989-vintage warehouse on 17.97 acres.
· 40 International Drive, Windsor – a 98,840-square-foot, 2008-vintage warehouse on 13.37 acres.
· 75 International Drive, Windsor – a 151,200-square-foot, 2003-vintage warehouse on 13.11 acres.
Indus evolved out of cigar-maker Culbro Corp., which was headquartered in New York and had extensive land holdings just north of Hartford when it began developing industrial and commercial assets in the 1970s. The company later shifted to focus almost exclusively on industrial real estate.
Between 2010 and 2020, Indus began developing and investing in industrial assets outside Connecticut, starting in Pennsylvania’s Lehigh Valley area.
Indus was taken private in 2023 with its sale to affiliates of Centerbridge Partners LP and global investor GIC Real Estate. The new owners have continued a determined push into southern markets.
