A 161,117-square-foot building hosting Pilgrim Furniture City in Southington sold for $10 million in December to prominent real estate development and investment company Winstanley Enterprises.
Pilgrim Furniture City will continue to do business at the Southington site under a four-year lease with options to extend, according to Adam Winstanley, a principal of Winstanley Enterprises.
“The acquisition was a sale-leaseback, meaning the building will continue to operate as a first-class Pilgrim furniture store,” Winstanley said.Â
Winstanley said his company plans to install a new roof this spring.
The building, prominently observable from Interstate 84, sits on 10.7 acres of industrial land at 55 Graham Place. It was sold by 55 Graham Place LLC to WE 55 Graham Place LLC in a $10 million sale recorded Dec. 16, according to town assessing records.
The selling limited liability company, 55 Graham Place LLC is headed by Michael L. Albert, who is CEO of Pilgrim Furniture City.
The buyer, WE 55 Graham Place LLC, shares a Concord address with Winstanley. The executive officers of WE 55 Graham Place LLC are Carter, David and Adam Winstanley, according to federal records. They are also the principals of Winstanley Enterprises.
