HFF closes $42 million sale of Class A office building in Bristol, Connecticut

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Printer-friendly versionPrinter-friendly versionPDF versionPDF version  FLORHAM PARK, NJ - January 9, 2014 – HFF announced today that it has closed the sale of 383 Middle Street, a 410,174-square-foot, state-of-the-art facility located in Bristol, Connecticut. HFF marketed the property on behalf of the seller, Winstanley Enterprises, LLC. Inland Real Estate Acquisitions, Inc. purchased the asset for $42 million. 383 Middle Street is situated on 36.9 acres in the Southeast Bristol Business Park, about 14 miles southwest of downtown Hartford via Interstate 84. The property is fully leased to a leading sports entertainment company that is headquartered nearby and includes an outparcel fully leased to a credit union. Extensively renovated in 2004, the property features a new cafeteria (2009), new building systems and a data center. The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O’Hearn and Jeffrey Julien and associate director Steve Simonelli. According to Cruz, “Matt Tice, vice president of Inland Real Estate Acquisitions, has successfully completed another transaction with both the seller and with HFF.” “Inland’s ability to perform on these types of transactions is one of the reasons why they are a preferred national buyer,” added Cruz. Winstanley Enterprises, LLC is a real estate investment and development firm that currently owns and operates 43 buildings totaling approximately 5.5 million square feet throughout the Northeast. Since the early 1990s, Winstanley has acquired in excess of 80 properties exceeding 10 million square feet of real estate throughout the eastern United States. The portfolio currently consists of a wide variety of commercial properties, including industrial/warehouse, R&D, office, biotechnology lab and retail properties. Inland Real Estate Acquisitions, Inc. facilitates acquisitions for various entities that are a part of The Inland Real Estate Group of Companies, Inc. (“Inland”). Headquartered in Oak Brook, Ill., Inland has been ranked one of the largest shopping center owners and managers in North America (Retail Traffic, May 2012) and the fastest-growing acquirer of retail property in the U.S. (Chain Store Age, May 2013). As of June 30, 2013, Inland affiliates or related parties owned and managed in total over 83.4 million square feet of diversified commercial real estate in 48 states, as well as managed assets in excess of $19.7 billion. Inland is comprised of a group of independent legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by Inland Real Estate Investment Corporation or its subsidiaries. For additional information, please refer to Inland’s website at www.inlandgroup.com. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.

News Source : HFF closes $42 million sale of Class A office building in Bristol, Connecticut

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