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Boston & New England  + Finance  | 

Hartford-Area Macy’s Warehouse Trades in Sale-Leaseback

Cushman & Wakefield advised Snowball Developments in obtaining acquisition financing of $23,700,000 for 301 Governors Hwy., a 507,733-square-foot industrial property in South Windsor, CT, within the Hartford metro area. The loan was provided by Prime Finance.

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Jeff Dybas, Alex Lapidus and Meredith Donovan represented the borrower. The property, previously owned and fully occupied by Macy’s, has been leased back to Macy’s by Snowball Developments in a sale-leaseback.

“This transaction underscores the strategic value of 301 Governors Highway within the Eastern Hartford submarket,” said Dybas. “With its single-tenant absolute net lease and sale-leaseback rent, the property presents significant upside potential. The extensive 38-acre site and ample trailer parking further distinguish it in a supply-constrained market.”

According to Cushman & Wakefield, the Eastern Hartford submarket boasts a low vacancy rate of 1.4%, with no speculative developments on the drawing board.

Read More News Stories About: Cushman & Wakefield
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Lease
  • ◦Sale/Acquisition
  • ◦Financing