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, Conn. All three partners are based in the New York City area.
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 at Regal Ventures, which is managing the investment. “The long-term committed tenant, attractive cash yield and the optionality to explore multiple value-creation strategie
