JC Penney warehouse sale in Manchester CT

J.C. Penney Properties, Inc. has sold 1339 Tolland Turnpike, Manchester to PFFWE1339 Tolland Turnpike, LLC. The 1.9M SF distribution warehouse on 163 acres sold for $70M.  J.C. Penny will maintain 60,000 SF while the buyer, an affiliate of Winstanley Enterprises, will invest an estimated $40M to reconfigure the remaining space to suit individual industrial tenants.

See attached Hartford Business Journal article for more information on this transaction.