Issue link: https://nebusinessmedia.uberflip.com/i/1536873
20 HARTFORDBUSINESS.COM | JUNE 30, 2025 M assachusetts-based developer Winstanley Enterprises, under the leadership of Adam Winstanley, for years has been a leading force in logistics development north of Hartford. The company shows no signs of slowing down, with several projects lined up, including a massive develop- ment planned on the eastern edge of the state. Adam Winstanley is a prin- cipal of Winstanley Enterprises, leading its industrial develop- ment efforts. His brother, Carter Winstanley, has led the firm's successful push into devel- oping lab and office space for New Haven's bioscience sector. In late April, Winstanley Enterprises sold a roughly 200-acre Enfield property, at 35 Bacon Road, to e-commerce giant Amazon for $20 million. Winstanley had secured local approvals for an 819,000-square-foot warehouse on the site. Amazon has not yet revealed the size of the logistics building it plans to erect on the property. Adam confirmed his company has been engaged to coordinate the construc- tion, a project he expects to launch next year. Separately, Adam said he plans to launch this summer construction of a 420,000-square-foot warehouse on a 133.6-acre Enfield site. The company purchased 1679 King St. for $4.6 million in 2023. Adam estimates building costs of about $80 million, and an 18-month construction schedule. Adam said he has a tenant for the building, but declined to identify the company. Winstanley Enterprises also plans to spend much of this year seeking permits to build a 1-million-square- foot-plus warehouse in Killingly. The project, with an estimated price tag of more than $200 million, will be built on 600 acres. Adam said he has an undisclosed tenant lined up for the building that will employ more than 500 people. "I love the town of Killingly, they are a very pro-business community," Adam said. Randy Salvatore D eveloper Randy Salvatore — head of Stamford-based development firm RMS Cos. — has been a key figure in Hart- ford's revitalization efforts, adding hundreds of market-rate apartments in the city with the help of tax breaks and government financing. Salvatore is also busy in Fairfield County, where RMS recently paid $16 million for a former Burlington Coat Factory building in Stamford, at 74 Broad St. RMS plans to knock down the building, and then redevelop the site into a 280-unit apartment building. Salvatore's ability to navigate vastly different economic environments has helped RMS become one of the busiest apartment builders in Connecticut. The company also has a growing hospitality arm. As of last November, RMS listed 34 properties in its portfolio, including an upscale college dormitory in Stamford, and five boutique hotels in Stamford, Norwalk, Danbury, New Haven and Hartford. RMS has ongoing multifamily projects in Stamford, New Haven, Norwalk and Hartford, along with one more in White Plains, New York. Early last year, Salvatore's company finished a $29 million conversion of the top 11 floors of the 22-story downtown DoubleTree by Hilton Hartford hotel, at 315 Trumbull St., into 147 apartments. That followed a 270-unit apartment building RMS completed in 2022 next to Hartford's Dunkin' Park. It was the first phase of a broader North Crossing development intended to add about 1,000 apartment units to city-owned lots around the minor league ball field. RMS is underway with North Crossing's second phase, a 237-unit apartment building and associated parking garage. He is also planning a hotel nearby. In Stamford, RMS is advancing plans to expand its 94-room luxury boutique hotel, The Lloyd. RMS built the hotel out of a portion of the Stam- ford YMCA building in 2009. POWER 25 REAL ESTATE 2025 Spotlighting commercial real estate's major influencers H igher interest rates and construction costs may have slowed some commercial real estate activity over the past year, but major developments, sales and leases remain ongoing across Connecticut. In this week's issue, Hartford Business Journal is publishing its fourth annual Power 25 Real Estate list, which identifies developers, brokers, bankers, lawyers and economic development officials who are having a major impact on the state's commercial real estate and development scene. This isn't an awards section. HBJ's Power 25 Real Estate class was chosen by HBJ's news team. There was a focus on individuals who have been newsmakers particularly over the last 12 months. The listing includes a mix of estab- lished players as well as some fresh faces. Let us know what you think about the list, and be prepared next year to suggest new names. Greg Bordonaro Editor Randy Salvatore flanked by his sons, Kyle Salvatore (left) and Brandon Salvatore, who have joined the family business. Adam Winstanley