NorthPoint Pays $25M for Connecticut Facility
Safelite is the sole tenant of the facility, occupying it entirely.
NorthPoint Development has bought Baker Hollow Logistics Center, a 165,625-square-foot industrial facility in Windsor, Conn., for $25.3 million.
A joint venture of Condyne Capital Partners and an account managed by UBS Realty Investors sold the property.
Safelite, an auto glass company, is the sole tenant of the facility, occupying it entirely.
JLL Managing Directors Michael Restivo and Shawn McMahon, together with Directors David Coffman and Tommy Hovey worked on behalf of the seller.
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Baker Hollow Logistics Center is at 105 Baker Hollow Road on nearly 16 acres. It is close to interstates 91 and 84, providing access to the Bridgeport–New Haven metro area. Bradley International Airport is nearby, while Hartford, Conn., is within 9 miles, while Springfield, Mass., is within 22 miles.
The warehouse came online in 2022, with the aid of $14.3 million in construction funds, originated by HarborOne Bank, according to CommercialEdge. The building features 32-foot clear heights, one drive-in door, 38 loading docks, 58 trailer parking spots and 117 vehicle parking spots.
Bridgeport’s vacancy, the lowest in the U.S.
Bridgeport-New Haven had the lowest vacancy among all markets tracked by CommercialEdge, at 4.5 percent in April, according to a recent report. The figure was significantly below the 8.8 percent national average, while Boston’s 10.3 percent was the highest one in the Northeastern region.
Additionally, Bridgeport-New Haven emerged as the Northeast’s most affordable industrial market that same month, in terms of investment. Sale prices averaged at $58.47 per square foot, less than half the $129 national average.
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