Massachusetts real estate developer and investor Winstanley Enterprises recently paid $2.5 million to secure a 40-acre industrial building site in the Great Pond Village Development.
Winstanley is the master developer of the 653-acre Great Pond Village, a pre-planned and permitted mix of industrial, commercial and residential development on land that once hosted the industrial campus of ABB Combustion.
ABB picked Winstanley to lead redevelopment efforts in 2008 following a roughly $150 million cleanup. Winstanley led planning and permitting efforts, several parcels in the district have been sold off to other developers. Winstanley received an undisclosed interest in the Great Pond Village land value as part of its deal with ABB.
Winstanley, in a deal recorded June 24, paid $22.5 million to buy out ABB’s interest in a roughly 94-acre plot. Missouri-based NorthPoint Development intends to build a speculative 750,000-square-foot warehouse on the site, identified as 500 Groton Road. Winstanley spokesman Matthew Watkins said
NorthPoint has agreed to a 75-year lease with an option to purchase the land.
That same day, Windsor recorded a $2.5 million purchase by Winstanley of an adjacent 40-acre parcel, identified as 400 Groton Road. Watkins said the area is open to light industrial, manufacturing and data center development.
Watkins said Winstanley hasn’t yet settled on a development plan for the smaller parcel, or yet identified an end user.
