JLL has been retained by NorthPoint Development as exclusive leasing agent for a new 750,000 square foot, state-of-the-art, logistics facility in Windsor, CT. Construction will begin in June 2022 for a planned delivery in April 2023.
Located at 500 Groton Road, in the Day Hill Road corridor, the speculative new construction will feature 40-foot clear heights, 75 dock doors, parking for 150 trailers and 588 cars, and potential IDA financial incentives.
The JLL leasing team for the facility will be led by James Panczykowski, senior managing director with JLL’s Northeast Industrial Region.
“With unrivalled access to both the New York and New England markets, two of the densest markets in the northeast, Windsor, Connecticut, is an ideal and proven logistics hub,” said Panczykowski. “This high-quality, mission-critical facility will provide powerful solutions to companies seeking a space with access to nearly 50 million consumers within a five-hour drive.”
The development will be situated on 93-acres on the edge of the master-planned 625-acre Great Pond mixed-use district. It will be outfitted with several environmentally friendly features, including LED lighting with motion sensors, and EV charging stations. Additionally, the developer is seeking LEED certification for the facility.
500 Groton Road is located within the I-91 Industrial Corridor offering connectivity to I-90, I-95 and I-84 and access to Hartford (12 miles), Providence (68 miles), Boston (97 miles) and New York City (132 miles). It is 13-minutes away from Bradley International Airport and 27-minutes from the FedEx Ground Hub in Middletown, CT. Windsor is home to many Fortune 500 companies and is a proven market for warehouse distribution and manufacturing.
Missouri-based Northpoint Development was founded in 2012 and has developed and managed nearly 140 million square feet of industrial space in 26 U.S. states.
“Windsor offers an ideal location for logistics as well as a healthy, pro-business environment with attractive development incentives for qualified projects,” said Brent Miles of NorthPoint Development. “This development will create a host of new jobs and bolster the local economy while meeting market demand for standout e-commerce solutions.”
According to JLL’s The Future of Global Logistics Real Estate survey in 2021, limited availability of entitled land and a lack of available speculative buildings are the biggest constraints currently facing the distribution sector. NorthPoint Development’s Great Pond Industrial project will deliver best-in-class industrial space to a market that is currently exhibiting record low vacancy.
JLL formed its Northeast Industrial Region in early 2017, combining its industrial brokerage operations in Connecticut, New Jersey, New York and Pennsylvania into a single region. The firm merged its industrial business lines to better serve clients that increasingly view the industrial sector in all four states as one large interconnected market. The Northeast Industrial Market comprises approximately 1.76 billion square feet of industrial space and represents the largest industrial market in the United States.