News: Front Section
Posted: January 25, 2019
Ciummei, Tisbert and McMahon of JLL rep. Coca-Cola Bottling Co. of Northern New England in 200,000 s/f lease
South Windsor, CT The Coca-Cola Bottling Co. of Northern New England (CCNNE) has signed a long-term lease agreement for 200,000 s/f of built-to-suit, class A industrial building at 359 Ellington Rd. The company will use the building as a new warehouse and distribution center. Development is scheduled to be complete and the facility fully operational by November.
“We are very excited for how this new, state-of-the-art sales center will help modernize our operations in Connecticut and position CCNNE for sustainable long-term growth for years to come,” said Mark Francoeur, president of CCNNE. “By constructing this new facility, we will be able to expand our production capabilities at our existing location in East Hartford and create a stronger distribution system to bring more of our beverages to market.”
JLL New England industrial practice’s senior vice president Michael Ciummei, managing director Brian Tisbert, and managing director Shawn McMahon represented Coca-Cola. CBRE’s Chris Metcalfe and Kyle Roberts represented owner/developer Scannell Properties.
Ciummei said, “We are thrilled that we could help Coca-Cola execute the right real estate strategy for this distribution facility.”
The new distribution center is being constructed on what was previously a cornfield, farmland that provided little tax revenue for the town. Coca-Cola’s new distribution facility will qualify for a 70% tax break over seven years. Even after factoring in the tax break, once the project is complete, the town will receive $125,000 in annual tax revenue from the site, up from just $7,000 per year had it remained a cornfield.
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