News: Front Section

Duclos and Ross of The Hart Group International and Reed of CBRE broker 72,060 s/f lease to Menck USA

The Hart Group International team of Mark Duclos, SIOR and Art Ross, SIOR exclusively represented the owner of 77 Champion Dr. in a recent long-term lease. WE 77, LLC, a Winstanley Enterprises entity, leased 72,060 s/f of manufacturing and distribution space to Menck USA, Inc. The facility is a total of 154,743 s/f and sits on 17.27 acres. Menck USA was represented in this transaction by John Reed, SIOR of CBRE. This will be the first US manufacturing facility for Menck USA, a partnership of 130 year-old Germany based Menck Fenster and private investors. At 77 Champion Dr., Menck USA will manufacture high quality custom windows, doors, window walls and façade elements for their North American building market. The product line will have residential, commercial and institutional application. Like Menck Fenster products, Menck USA will be known for their energy-efficiency, elegance, comfort and quality. With the completion of this lease, 82,683 s/f of modern high quality industrial space remains available for lease in the facility. The remaining space features ceiling heights up to 27', ample loading, electrical service rated at 1,600 amps, and it is suitable for a wide range of manufacturing and distributions tenants. The facility can also be expanded. Hart Group International is a collaborative effort of Hartford, CT based Sentry Commercial and Southampton, PA headquartered Hart Corp. Hart Corp.'s northeast regional office is in Avon, CT. Together, they combine the industrial real estate expertise of local, regional and national coverage to provide unparalleled brokerage service.
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Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
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