Massachusetts-based developer Winstanley Enterprises recently paid $4.6 million for an undeveloped 133.6-acre site in Enfield, with plans to build more than 600,000 square feet of industrial space.
Winstanley Enterprises on Tuesday announced its purchase of 1679 King St., also known as “Metro Park North,” and plans to eventually move forward on previously obtained land-use approvals for the property.
Those approvals, according to Winstanley, allow for a 500,225-square-foot distribution facility as well as a 100,125-square-foot “flex” building. The latter would be predominantly warehousing space, with some office.
“This property boasts unlimited potential and enables companies to hit the ground running in a very short time,” said Adam Winstanley, principal of Winstanley Enterprises. “Traditionally it’s months or years before a company can secure permitting to break ground on a development, but this fully entitled site offers prospective tenants expedited speed-to-market potential, building customization input, and it’s a great location.”
The property offers easy access to Interstate 91 and is minutes away from Bradley International Airport.
Winstanley acquired the property from Rocky Hill-based DF Realty LLC, in a deed recorded by the town on Oct. 5. The seller’s principal is Marc Fontaine, of South Glastonbury, according to state business records. DF Realty paid $1.45 million for the property in 2015, according to assessor records.
Winstanley has been heavily involved in the logistics boom in towns north of Hartford over the past decade. Winstanley recently paid $122.3 million for a 1-million-square-foot distribution center in Windsor that hosts an Amazon fulfillment center.
Winstanley on Tuesday reaffirmed its confidence in the warehouse and distribution sector.
The company said it will immediately market its newly acquired Enfield property to prospective tenants and expects to begin construction during the first half of 2024.
A building Winstanley recently completed on North Maple Street in Enfield has been occupied by life-sciences company Eppendorf and dairy cooperative Agri-Mark. The company owns another 1.1 million square feet of office and logistics space in Enfield, with tenants including Lego, Coca-Cola and Advanced Auto Parts.
The company said it also recently settled a legal dispute, allowing it to proceed with an 819,000-square-foot distribution facility at 35 Bacon Road, part of the former Hallmark site.
Winstanley owns and operates more than 12.5 million square feet of commercial real estate.
