535,000 SF Building is Most Cost-effective Facility Between Hartford and Providence
Cushman & Wakefield, a global leader in commercial real estate services, today announced it has been retained by Hackman Capital Partners, LLC, to lease Moosup Industrial Center in Plainfield, CT, the largest available industrial building between Hartford and Providence, RI. Originally built for American Standard in 1958 and renovated in 1990, the landmark 80-acre property was recently vacated by Staples, which occupied the 535,000 square foot facility for nearly a decade.
“Hackman Capital’s intention is to be the most flexible, lowest-cost provider of industrial space between Hartford, Worcester and Providence,” stated Michael Hackman, Founder and CEO of Hackman Capital Partners. “A large, versatile floor plate will allow the building to easily accommodate tenants of all sizes, with units starting as small as 65,000 square feet, and the lease rates are the most aggressive in the region.”
Eligible tenants also will benefit from significant Enterprise Corridor Zone tax incentives and other financial programs available on state and local levels. “We’re committed to helping tenants secure all the perks they can receive,” Mr. Hackman said.
Situated along Interstate 395 at 85 Moosup Pond Road, Moosup Industrial Center offers direct access to major highways and population centers including Boston, Hartford and Providence. In addition, the property is rail served, with a 25-car rail spur and direct connection to the Providence & Worcester railroad lines, providing access to 516 miles of track across Massachusetts, Rhode Island, Connecticut and New York.
Sean P. Duffy, Executive Director in Cushman & Wakefield’s Hartford Office, leads the leasing team.
“The property offers robust amenities for sophisticated manufacturing or distribution—ceiling heights up to 32.5 feet, heavy power, 40 docks, parking for 246 cars and 300-plus trailers, and a full-service cafeteria is an added perk,” Mr. Duffy said. “The value of this space lies in its ability to be reimagined in countless different ways, and we look forward to bringing in a new wave of tenants.”
Mossup Industrial Center is owned by a joint venture formed by Hackman Capital Partners, Calare Properties and KBS Realty Advisors. Hackman Capital is the property’s asset manager, while PM Realty Group is the property management company.
About Hackman Capital
Founded in 1986 and headquartered in Los Angeles, Hackman Capital is a privately held, asset-based investment firm that focuses on the acquisition of industrial real estate and the purchase and sale of industrial
equipment. The firm currently owns, through its affiliated entities, 270 facilities throughout the United States, totaling approximately 25 million square feet and more than 10,000 acres of developable land. With 30 years of experience in acquisition, redevelopment, and asset management, Hackman Capital is known across marketplaces for its ability to successfully navigate complex transactions and financial restructurings involving real estate and equipment. The company also has offices regional offices in Boston, Massachusetts and Columbus, Ohio. For more information, visit http://www.hackmancapital.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.