JV Acquires Hartford-Area Industrial with Long-Term Tenant

A joint venture comprising Regal Ventures, Snowball Developments and Devli Real Estate has acquired a 186,603-square-foot, single-tenant industrial asset located at 600 Day Hill Road in Windsor, CT, near Hartford’s Bradley International Airport. The acquisition price was not disclosed. All three partners are based in the New York City area.

Built in 1975, the site is fully leased by the Spencer division of Howden USA Companies, a wholly owned subsidiary of Chart Industries. The tenant, historically known as the Spencer Turbine Company, manufactures heavy-duty, highly engineered air and gas handling equipment. The company has occupied the facility since the mid-1970s and holds a lease running through November 2034.

“We are delighted to partner with Snowball Development and Devli Real Estate on our first industrial acquisition in the Greater Hartford market,” said Sean Dainese, managing partner of Regal Ventures, which is managing the investment. “The long-term committed tenant, attractive cash yield, and the optionality to explore multiple value-creation strategies make this an ideal addition to our growing industrial portfolio.”

Spencer Hoffman, an attorney with Kingston, NY-based Beacon Law, served as counsel representing the buyer.

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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).

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