Winstanley pays $50M for Windsor Locks bldg.
Massachusetts landlord-developer Winstanley Enterprises says it has acquired a one-million-square-foot grocery-distribution facility in Windsor Locks for $50 million.
Principal Adam Winstanley said Wednesday his company closed Tuesday on its purchase of the 1,079,000-square-foot building at 500 North St. CBRE-New England brokered the deal.
The building is leased long term to Massachusetts supermarket chain Stop & Shop, which in turn subleases the facility to regional grocery supplier C&S Wholesale Grocers, Winstanley said.
“We bought the property because it’s a great bulk distribution building and it’s a good fit with the other properties we own in the region,” Winstanley said.
Last Jan., Winstanley Enterprises, based in Concord, Mass., paid $124 million for 10 Enfield properties, anchored by the 1.1 million-square-foot former Hallmark Greeting Cards distribution facility at 25 Bacon Road.
Winstanley followed up in May with the $2.9 million purchase of 56 raw acres in Enfield that some brokers say could be commercially developed, perhaps into an industrial park. The landlord also paid in May $8.5 million for Georgia-Pacific’s former 170,076-square-foot warehouse at 100 Helmsford Way in Windsor.