Metropolitan Realty Associates Buys Connecticut Distribution Center for $50M
SOUTH WINDSOR, CONN. — Investment firm Metropolitan Realty Associates (MRA) has acquired a 304,249-square-foot distribution center at 456 Sullivan Ave. in South Windsor, located roughly midway between Boston and New York City, for $50 million. Originally constructed by SunCap Property Group in 2012 and expanded in 2015, the Class A property features a clear height of 31.5 feet, 72 trailer parking spaces, 75 long-trailer parking spaces and 99 dock bays specifically designed for heavy distribution uses. An undisclosed transportation company occupies the entirety of the property. Newmark brokered the transaction and arranged acquisition financing through a major institutional lender. Clarion Partners LLC provided equity for the venture through its Clarion Partners Real Estate Income Fund Inc.