Exclusive: National Development Lands $138M for Connecticut Warehouse

November 7, 2025

This 1.3 million-square-foot facility is part of a 280-acre master-planned development.

Rendering of industrial buildings, part of East Hartford Logistics & Technology Park, a 2.7 million-square-foot project in East Hartford, Conn. — The East Hartford Logistics & Technology Park includes 2.5 million square feet of completed space across two facilities. *Rendering courtesy of National Development*

National Development has secured a $138.1 million bridge loan backed by a 1.3 million-square-foot industrial asset in East Hartford, Conn., within the Bridgeport–New Haven metro area, according to Yardi Matrix.

Mizuho Bank originated the note, which has a maturity date set for 2028.

The warehouse is at 501 E. Hartford Blvd. and came online in May last year. It is 55 miles from Bridgeport, Conn., and is occupied by Lowe’s, as part of its distribution network.

The facility is part of National Development’s East Hartford Logistics and Technology Park at Rentschler Field, between Boston and New York. The park includes another, 1.2 million-square-foot building, also completed last year. The developer aims to construct two more facilities, each measuring 100,000 square feet—intended for high-tech manufacturing—bringing the total to 2.7 million square feet.

The 280-acre master-planned project is on a former airfield, acquired by National Development for $78.5 million from Raytheon Technologies. East Hartford Logistics and Technology Park at Rentschler Field provides access through the Tri-State area and New England via interstates 84 and 91. The project also includes retail space that is occupied by Bass Pro Shops.

Wayfair signed a 12-year lease with two five-year extensions for the second building back in 2022, according to Hartford Business. However, the logistics facility has not yet been occupied by Wayfair, as the company was looking to sublease half of the property in November 2023. The entire building became marketed for sublease in July last year, the same source reports.

Northeastern industrial movement up close

Bridgeport’s industrial pipeline comprised 1.6 million square feet as of September, which was 0.7 percent of its existing stock—below the national average of 1.6 percent, according to a recent Yardi Matrix industrial report. Among Northeastern markets, development activity in Bridgeport was one of the lowest. New Jersey developers had 6.3 million square feet in projects underway, while Boston’s pipeline comprised 2.6 million square feet.

Recent financial movement across Northeastern industrial markets included 2020 Acquisitions’ $645 million mortgage, backed by a 4.1 million-square-foot development in Old Bridge, N.J. Madison Realty Capital provided the financing, which will partly be used to complete the second phase of Central 9 Logistics Park.

Last month, PCCP and Lincoln Equities Group landed a $45 million bridge loan for Lincoln Logistics Center, a 220,000-square-foot Class A distribution center in Rockland County, N.Y. The funding was issued by Rialto Capital Management and will be used to refinance the recently delivered property.