Acquisition Criteria

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Case Study

1339 Tolland Turnpike

In June 2018, Winstanley acquired 1339 Tolland Turnpike in Manchester, CT, a 1.96 million SF warehouse and distribution center. Situated on 162 acres, the property is the largest warehouse and distribution building in Connecticut and has become one of the trophy warehouse buildings in New England.

The property was acquired off-market from JC Penney in a partial sale-leaseback transaction. Winstanley implemented an extensive $45 million-dollar state-of-the-art redevelopment program, equipping the building to accommodate the multi-tenant users of different sizes ranging from 350,000 SF to 1.0 million SF.

Winstanley reduced JC Penney’s footprint to 635,000 SF and proceeded to quickly lease up the remaining space to Ahold Delhaize (973,000 SF) and Amazon (349,000 SF) after the redevelopment program.

The 100% leased property is strategically located at the crossroads of I-84, I-91 and I-291, providing excellent access to 10% of the U.S. population.

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Case Study

Ahold Retail Portfolio

In December 2019, Winstanley Enterprises acquired a 100% ownership interest in an investment vehicle which had an “estate for years interest” in a 23 property, 1.35 million square foot, grocery retail portfolio that were 100% leased to Ahold Delhaize (S&P BBB) on absolute NNN leases.

The properties are located throughout the East Coast in prime locations and support major supermarket brands including Stop & Shop, Giant Food, and Shop-Rite. A number of the grocery stores are located in rare and valuable urban infill locations like Lexington, Arlington, Watertown, Providence, Annandale and Cherry Hill.

As a part of this investment, Winstanley restructured the complex legal arrangement between the seller, tenant, and landowner for 13 of the most strategic locations to simplify and improve the lease and ownership structure into a traditional 20-year net leased real estate structure.

Winstanley subsequently sold the 13-store portfolio and was able to realize a 4x return on invested equity over a one-year period.

Acquisition Criteria

Winstanley specializes in acquiring land and under-performing properties and creatively redeveloping/repositioning them as productive assets benefiting investors, tenants, and communities. Through it’s history, Winstanley has earned a reputation for setting investment trends in its markets, for working creatively with businesses and municipalities, and for following through on its commitments.
 
Winstanley leverages its strong market relationships, strategic alliances, and streamlined decision-making as a competitive edge in sourcing ground-up development and value-added real estate opportunities. Our vertically integrated asset management, construction management and property management teams apply creative, hands-on experience to transform these opportunities into sound investments for our clients.

  • Property Type: Industrial, warehouse, life science, medical office, retail, residential, and other specialized assets
  • Location: East Coast with a particular focus on New England
  • Purchase/Development Price: $15M to $500M
  • Real Estate Transaction Types: Build-to-suits, acquisition of value-add properties, sale-leasebacks, and residential communities
  • Occupancy: Single or multi-tenant
  • Tenant Industries: All tenant industries