A joint venture of Regal Ventures, Snowball Developments and Devli Real Estate has purchased a single-tenant industrial facility at 600 Day Hill Road in Windsor, CT, just outside Hartford and near Bradley International Airport. The acquisition price was not disclosed, and the transaction marks Regal Ventures’ first industrial investment in the Greater Hartford market. All three joint venture partners are based in the New York City area.
The property totals 186,603 square feet and is configured as a single-tenant industrial asset. Built in 1975, the building has long served as a manufacturing facility and remains fully leased. The tenant has maintained continuous occupancy since the mid-1970s, underscoring the stability of the asset’s income stream.
The facility is occupied 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 at the site. According to the joint venture, the company holds a lease that extends through November 2034, providing more than eight years of remaining term at the time of the acquisition.
Regal Ventures is managing the investment on behalf of the joint venture. In a prepared statement, managing partner Sean Dainese noted that the combination of a long-term committed tenant, current cash flow and flexibility to consider future value-creation strategies supported the partnership’s decision to add the Windsor asset to its industrial portfolio. Specific business plans for the property were not disclosed.
On the legal side, Spencer Hoffman, an attorney with Kingston, NY-based Beacon Law, served as counsel representing the buyer in the acquisition. No additional parties, financial details or transaction terms were reported.
