New Jersey-based real estate developer Silverman Group is aiming to break ground this year on a 250,000-square-foot real estate building on land it purchased just outside of Bradley International Airport in December.
Silverman paid Hamilton Sundstrand Corp. $1.9 million for a roughly 40-acre property cut through by Hamilton Road in Windsor Locks. Brokerage firm CBRE is currently marketing a 199,000-square-foot building on 14 acres on the west side of Hamilton Road.
Silverman’s purchase also included a large parking lot on 26 acres on the east side of Hamilton Road. There, the company plans to add a 250,000-square-foot industrial building. Toby Nelson, Silverman Group’s vice president of leasing, said his team is consulting with town staff as plans are developed.
“We are working with local authorities, and it has been pleasant thus far and productive,” said Nelson.
Nelson said it is difficult to determine when the project might launch, but Silverman aspires to begin work this year.
The new building will be a modern, rear-loaded class A industrial, with frontage on Route 20 and access to interstate 91, Nelson said.
The properties on either side of Hamilton Road are being marketed as the Bradley Airport Logistics Center East.
The existing two-story building to the west of Hamilton Avenue had long served as part of Raytheon Technologies’ aerospace division campus. The existing building is primarily office space, with some rooms for labs and shipping, Nelson said. Silverman will retrofit the building to suit new tenants, Nelson said.
“We are working to repurpose the existing building and the new building to really cater to the greater market there – the evolving growth of the industrial market in the greater Hartford area,” Nelson said.
The building to be added is described as speculative. Still, Nelson said the company has received inquiries on the existing building and the one it plans to build.
SL Industrial Partners, an arm of the Silverman Group, owns 25 million square feet of leasable space in 20 states and another 15 million under development in nine states, Nelson said.
SL Industrial owns 21 buildings in Manchester, East Windsor and Windsor Locks totaling more than 1.5 million square feet of leasable space, he said.
The Silverman Group formerly owned 100 Pearl St. in Hartford, a major Class A office building. It is also redeveloping The Hartford’s former Simsbury campus. In August the company paid $8.3 million for 130 acres in East Granby, where it is planning a large residential and industrial development.
