May 1, 2020
JLL Capital Markets has closed the $11.2-million sale of a 111,507-square-foot, fully leased light industrial warehouse in West Hartford, CT. The firm marketed the property on behalf of LM Real Estate Partners. A private investor purchased the asset.
The JLL industrial capital markets team representing the seller was led by directors Jordan Avanzato and Marc Duval, senior managing director Jose Cruz and associate Nicholas Stefans, along with vice chairman Rob Kossar and EVP James Panczykowski.
“We continue to see demand for well-positioned light industrial warehouses with a focus on transportation/logistics services,” said Avanzato. “Going forward, we see a strong tailwind behind e-commerce as demand has increased, which will further fuel the industrial sector.
“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,” he added.
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