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East Windsor Property Hosting Bottled Water Company BlueTriton Sells For $24.17M
January 19, 2023
By Michael Puffer
A 277,552-square-foot East Windsor warehouse hosting BlueTriton Brands Inc. recently sold for $24.17 million, nearly double what investors paid for the property a little more than a year ago.
Wharton Industrial, a subsidiary of New York City-based real estate investment firm Wharton Equity Partners, announced in October 2021 that is had acquired the warehouse at 18 Craftsman Road in a joint venture with Boston’s Long Wharf Capital.
At the time, Wharton said it planned to transform the vacant warehouse into a major shipping and distribution facility, capitalizing on proximity to interstates 84 and 91, as well as Bradley International Airport.
Records show a Wharton-affiliated limited liability company paid $12.3 million in October 2021 for the warehouse set on 40.2 acres at 18 Craftsman Road.
About three months later, Wharton announced bottled water producer BlueTriton Brands Inc. – formerly nestle Waters North America – had signed a lease for the entire site.
The property sold for $24.17 million to three companies, all of which list the same Baltimore apartment as their principal business, state records show. That address is shared by Selko Real Estate Ventures LLC, an entity whose agent is Max Selig.
One buyer with a 29% share – 18 Craftsman TIC I LLC – also listed a second principal, 325 Midland Ave LLC, with an address at a residential property in Lawrence, New York.
The property was brokered for Wharton by CBRE and was on the market for about two months with multiple offers, according to CBRE Senior Vice President Christopher Metcalfe.
“There is a lot of land and there are some very functional aspects of the building, including a large amount of outside storage potential,” Metcalfe said. “Proximity to the highway is excellent. Just a good piece of real estate.”
Metcalfe described Selko as a “trustworthy buyer” with additional assets in Connecticut and the region.