Massachusetts-based developer and investor Winstanley Enterprises recently sold a nearly complete logistics center in Windsor to a limited liability company connected to Kansas City-based NorthPoint Development for $43.5 million.
The 93.78-acre property at 500 Groton Road hosts a 530,000-square-foot logistics center that, according to town officials, is destined to be leased by Target as a refrigerated warehouse.
A limited liability company headed by Winstanley principal Adam Winstanley sold the property to another LLC sharing an address with NorthPoint in a deed recorded Aug. 4.
The property sits within the 653-acre Great Pond Village development zone, a master planned development under Winstanley that will host a mix of commercial, residential and industrial uses.
In 2022, Winstanley bought out the interest of ABB Combustion Engineering – its partner on the Great Pond Development – on the Groton Road development site. It also struck a 75-year lease on the parcel – with an option to purchase – to NorthPoint Development.
At the time, NorthPoint was planning to build a 750,000-square-foot logistics site. Those plans were trimmed to a 530,000-square-foot building and a lease to Target was secured in late 2022.
