HSA CONTINUES ACQUISITION ACTIVITY; 24,982 SF DISTRIBUTION FACILITY ACQUIRED IN CONNECTICUT
May 9, 2007
(Chicago – May 9, 2007) Jack Shaffer, chairman, HSA Commercial Real Estate, has announced that the firm has acquired its first property in the State of Connecticut, a 24,982 fully-leased distribution facility at 51 Pent Highway, Wallingford. This continues the firm’s long-term strategy of acquiring first-class properties nationwide, with over 17 million square feet of commercial property now owned in 14 states.
The property was originally constructed for DHL Express in 1991, and is 100% leased to DHL until July of 2011. It is centrally located in Connecticut, 25 miles south of Hartford and 15 miles north of New Haven, with exceptional access to surrounding communities with its proximity to I-91 and Route 15 (Wilbur Cross Parkway).
Constructed of pre-engineered steel, with cinderblock and masonry walls, the building is a cross-loading facility with 17 double doors and 3 single doors at grade level. It is sited on 2.81 acres.
Robert E. Smietana, CEO and vice chairman, and Eric Ogden, senior vice president, led the HSA team that identified and negotiated the acquisition of this property. The seller, a private investment group, was represented by Steven K. Inglese of New Haven Group, Inc.
Celebrating 26 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate across the United States with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 7,000 transactions in 43 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 15 million square feet in 12 states and the firm presently owns over 17 million square feet of commercial property in 14 states.
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