JLL closes $11.2 million sale of Conn.-based industrial facility

JLL Capital Markets announced on Thursday it has closed the $11.2 million sale of a light industrial warehouse in West Hartford, Connecticut.

JLL’s Rob Kossar, vice chairman; James Panczykowski, executive vice president; Jose Cruz, senior managing director; Jordan Avanzato and Marc Duval, directors; and Nicholas Stefans, associate; marketed the 111,507-square-foot property on behalf of the seller, LM Real Estate Partners. An undisclosed investor bought it.

“We continue to see demand for well-positioned light industrial warehouses with a focus on transportation/logistics services,” Avanzato said. “Going forward, we see a strong tailwind behind e-commerce as demand has increased, which will further fuel the industrial sector.

The property is situated on 7.36 acres at 141 South St. in an infill area with access to major roadways. Built in 1990, it is home to nine tenants and features 22-foot ceilings, 16 loading docks and 10 drive-in doors.

“This specific offering provided a unique blend of stability and rent growth potential with a strong and diverse tenant roster featuring a mix of both local and national corporations,” Avanzato said.