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6 HARTFORDBUSINESS.COM | AUGUST 5, 2024 DEAL WATCH SUSTAINABLE FACILITIES COMPETITIVE. EFFICIENT. PRODUCTIVE. The company that builds and installs the critical systems in virtually every type of facility is the same company you can rely on to maintain them. For over 50 years, our clients have trusted us to provide sustainable, more efficient, greener facilities. Experts in: Energy Systems & Incentives, Building Automation Technologies, Sustainable Design & Operation 860.871.1111 Toll Free: 800.741.6367 nemsi.com MECHANICAL | ELECTRICAL | PLUMBING | SHEET METAL | BUILDING AUTOMATION | FACILITIES SERVICES License #'s: E1-0125666 S1-302974 P1-203519 F1-10498 SM1-192 MC-1134 Adam Winstanley, of Winstanley Enterprises, has put on hold plans to build an 819,000-square- foot logistics warehouse in Enfield. HBJ PHOTO | MICHAEL PUFFER Move-in ready Despite the slowdown in activity, some major speculative projects are still active. Massachusetts developer Condyne Capital Partners plans to move forward, on spec, with construction of two logistics buildings — totaling 300,150 square feet and 120,000 square feet, respectively — at its Baker Hollow Road development in Windsor, according to company spokeswoman Lindsay Hurley. Hurley said demand for specu- lative development remains high, with vacancy rates for new Class A warehouse space in greater Hartford under 1%. Several tenants are looking for opportunities to expand in the area, Hurley said, but there is only one completed building available. "Without speculative construction, tenants must wait a minimum of a year before the building would be move-in ready — time that many companies don't have," Hurley explained. New Jersey-based Silverman Group late last month held a ground- breaking ceremony for a new $25 million, 250,240-square-foot ware- house in Windsor Locks. Silverman has not yet identified a tenant for the project, which began in early June and is expected to wrap-up in the first quarter of 2025. The roughly 26-acre development site is part of a 40-acre plot Silverman Group bought in late 2021 for $1.9 million from Hamilton Sundstrand Corp. Silverman Group is also looking for a user for a 199,000-square-foot building that came with the 2021 purchase. The company has demolished the interior of the one-time office building, with plans to remodel it for warehouse or manufacturing use, depending on tenant demand, said Toby Nelson, leasing vice president for Silverman's industrial division. Silverman Group is also pursuing local permits in East Granby to speculatively build three logistics buildings — ranging in size from 250,000 square feet to 400,000 square feet. Plans for the 130-acre East Granby property, at 50 Rainbow Road, also call for 150 garden-style apartments in multiple buildings. "We've done business in Connecticut for over 15 years," Silverman Group President Blake Silverman said following the July 18 groundbreaking. "There's great demand in the state, especially in the 84/91 corridor, up by the airport." NOTABLE 2Q INDUSTRIAL LEASE DEALS IN GREATER HARTFORD TENANT LEASE SIZE ADDRESS CITY TRANSACTION TYPE Marvin Windows 185,600 205 Baker Hollow Rd. Windsor New lease United Information Service 138,395 758 Rainbow Rd. Windsor Renewal Barnes Aerospace 84,000 7 Connecticut Dr. S. East Granby New lease PGW Auto Glass 36,691 177-185 W. Newberry Rd. Bloomfield New lease Source: CBRE Warehouse Construction Continued from page 5