The Silverman Group bought a 199,000-square-foot industrial building and 40 acres just outside Bradley International Airport for $1.9 million in December.
Now, the New Jersey-based real estate investment giant is moving to lease the building, which it purchased from Hamilton Sundstrand Corp. The two-story building had long served as part of Raytheon Technologies’ aerospace division campus, located adjacent to the airport on Route 20.
The building at 1 Hamilton Road sits on 14 associated acres, is being marketed by brokerage firm CBRE. The building has 13-foot to 16-foot ceiling heights and is zoned industrial.
“The appetite for industrial space in Connecticut is very high,” said Kyle Roberts, first vice president with CBRE. “Demand continues to surge in central Connecticut as tenants in the market expand their searches due to limited availability and cost in adjacent markets.”
The Greater Hartford market has seen particularly intense interest, Roberts said.
Silverman’s December purchase also included a 26-acre parcel across Hamilton Road from the building. This area is currently used for parking but, Silverman plans to build a speculative, 250,000-square-foot, industrial building and is working with town officials on permitting.
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 for 130 acres in East Granby, where it is planning a larger residential and industrial development.
SL Industrial Partners, a division of the Silverman Group, owns 20 million square feet of industrial space across 20 states, according to the company. It has another 12 million square feet of industrial space under development in eight states, including built-to-order space and speculative opportunities.
As of December, the company already owned 1.2 million square feet of industrial space in Connecticut. Toby Nelson, the company’s vice president of leasing, said it was working to add 2 million more.
