Investcorp on Thursday announced the acquisition of two industrial properties totaling more than 1.3 million square feet in the New Haven/Hartford corridor in Connecticut.
The value of the transaction was not disclosed.
The first property, Cheshire Distribution Center, comprises 527,000 square feet of warehouse, distribution and office space, and is located in Cheshire. Located on an 83-acre site, the building was developed in 1960 and renovated in 1996.
The second property, North Haven Distribution Center, is an 828,384-square-foot facility located on a 64-acre site in North Haven. Originally developed in 1962, this property was also renovated in the 1990s.
At the time of purchase, the properties were 77 percent occupied by five tenants, including Roadway Express, H&M, ESPN, Federated Department Stores, and New Breed Logistics.
