Hartford Business Journal

25 HARTFORDBUSINESS.COM | JULY 26, 2021 The Winstanleys C onnecticut's hot industrial real estate market — spurred by demand for last-mile warehouse space from e-commerce giants like Amazon — has been a boon to the state's economy, kick-starting job creation and new construction across the region. And few have capitalized on the growing industry like David Winstanley and his sons, Adam and Carter. Owners of the family-run realty shop, Winstanley Enterprises LLC, the Massachusetts- based fi rm is Connecticut's largest owner of warehouses. The family, which has offi ces in Hartford, New Haven and Bristol, solidifi ed its local prowess in 2020 by buying J.C. Penney's former Manchester distribution center and spending $44 million on a pair of abutting food distribution and storage facilities in South Windsor, which were later sold off. In April of this year Winstanley announced that it sold a portfolio of 11 Stop & Shop-anchored properties, including three in the Nutmeg State, for $295 million. And it recently landed Amazon as the anchor tenant at the former Nabisco warehouse property in Glastonbury, which Winstanley purchased in Sept. 2020 for $4.4 million. Meanwhile, Winstanley recently kicked off construction on a $100 million bioscience tower in New Haven that will add another 500,000 square feet of laboratory and life- sciences incubation space in the Elm City. Power 25 Real Estate FOCUS Winstanley owns J.C. Penney's former Manchester distribution center, which now boasts Amazon as a tenant. PHOTO | COSTAR Adam Winstanley David Winstanley Carter Winstanley TOTAL PROJECT SIZE: 24,000 SF Building For Your Success MAX TRANSPORTATION EAST GRANBY, CT For this project, PDS served in a Design Build role to complete a new 24,000 square foot building. Standing 30' tall, this pre- engineered building is complete with three 8,000 square foot warehouse divisions, ten overhead doors, and three main office spaces. For over 55 years, PDS has always built relationships based on trust, efficiency, and transparency to provide the highest quality end result. SPOTLIGHT ON: PRE-ENGINEERED METAL BUILDINGS 107 Old Windsor Road, Bloomfield, CT 06002 | 860.242.8586 | pdsec.com THINK • PLAN • BUILD Thank you to Max Transportation and our outstanding partners who's commitment to excellence is unwavering: DEXTER MASONRY 103 Kearney Rd., Pomfret Center, CT 06259 * 860-428-9909 unprecedented per unit prices being attained," she recently told HBJ. "The majority of the investors are from out of state and after acquisition they are infusing capital to further enhance the quality of the properties. Interest rates and the future taxes will directly impact the values we will see in the coming year." Cozzi has also had a leadership role in the industry, having previously served on the Greater Hartford Association of Realtors Commercial board. In 2017 she won the Woman of Fire Award, which honors female leaders in the fi nancial services, insurance and real estate industry. Chris Ostop C hris Ostop is another top broker in Hartford. He's the managing director of JLL, which did $110 million in commercial volume activity in 2020, ranking it third on HBJ's list of largest commercial brokers. Ostop is JLL's broker lead for central Connecticut and western Massachusetts and is active locally, having served as a board commissioner of the Hartford Business Improvement District. Ostop and JLL have been part of some of the biggest real estate transactions in Hartford, including selling, on two separate occasions, City Place I, the city's and state's largest offi ce tower. City Place last traded hands in 2015 when it was purchased by Boston real estate investment fi rm Paradigm Properties for $113.3 million. JLL now represents Paradigm as the property's broker. Ostop has had a front-row seat to witness many changes in Hartford's offi ce market over the years. He predicts Greater Hartford will see a modest increase in its offi ce vacancy rate in the coming months, although there is still uncertainty on exactly how companies will utilize

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