Joint Venture Acquires 186,603-Square-Foot, Single-Tenant Industrial Asset In Windsor, CT

Property Is Fully Leased By Manufacturer Of Heavy-Duty Industrial Equipment

NEW YORK, Sept. 29, 2026 /PRNewswire/ -- A joint venture comprising Regal Ventures, Snowball Developments and Devli Real Estate has acquired a 186,603-square-foot, single-tenant industrial asset located at 600 Day Hill Road in Windsor, CT. All three partners are based in the New York City area.

The site is fully leased by the Spencer division of Howden USA Companies, a wholly owned subsidiary of Chart Industries. The tenant, historically known as the Spencer Turbine Company, manufactures heavy-duty, highly engineered air and gas handling equipment. The company has occupied the facility since the mid-1970s and holds a lease running through November 2034.

"We are delighted to partner with Snowball Development and Devli Real Estate on our first industrial acquisition in the Greater Hartford market," said Sean Dainese, managing partner of Regal Ventures, which is managing the investment. "The long-term committed tenant, attractive cash yield, and the optionality to explore multiple value-creation strategies make this an ideal addition to our growing industrial portfolio."

"Snowball Developments is excited to partner with Regal Ventures and Devli Real Estate on our second acquisition in the City of Windsor and our fifteenth to date in the Connecticut industrial market," said Brian Ker, president of Snowball Developments. "Snowball has always been a 'land-first' industrial owner, and the spacious, 30-acre site at the corner location of Marshall Phelps and Day Hill Road offers incredible long-term potential while the asset is currently supported by strong and growing cash flow."

"The acquisition of 600 Day Hill Road fits squarely within our strategy of acquiring mission-critical, low-coverage industrial assets with long-term, credit-worthy tenants in supply-constrained corridors," said Mark Devli, chief investment officer of Devli Real Estate. "We are thrilled to partner with Regal Ventures and Snowball Developments on a deal that underscores our confidence in both this asset and the Greater Hartford market."

Neither the sale price nor the seller was disclosed. Spencer Hoffman, an attorney with Kingston, NY-based Beacon Law, served as counsel representing the buyer.

Constructed in 1975 and featuring a rear-load configuration, the building has undergone significant infrastructure Improvements by the tenant to support specialized manufacturing and testing operations.

The Windsor location benefits from proximity to Bradley International Airport -- Amazon's air freight hub in New England -- and is located in a high-barrier submarket with limited new supply and sustained tenant demand. Situated at the nexus of Northeast distribution channels, the property sits on a 29.7-acre parcel.

The transaction represents Regal Ventures's third industrial acquisition since May of this year. That month, Regal Ventures acquired an 85,053-square-foot industrial building in Easton, PA in partnership with Benchmark Real Estate of Lancaster, PA. And in July, the company acquired 7600 Whitepine Road, a 70,739-square-foot industrial manufacturing facility in Richmond, VA.

About Regal Ventures 

Founded in 2019, Regal Ventures is a New York City-based real estate investment manager targeting infill retail and small bay/flex industrial assets in supply-constrained, high-density submarkets across select major MSAs. The firm employs a disciplined, conviction-driven approach that capitalizes on pricing inefficiencies in the middle market -- generating returns through hands-on repositioning, strategic lease-up, rental rate resets, and the resolution of complex capital situations.

Regal Ventures' platform is anchored by two complementary verticals: infill retail assets anchored by necessity-based and experience-driven tenants in dense urban submarkets, and small bay/flex industrial properties with divided floorplans serving smaller-tenant demand in and around major metropolitan areas. Backed by a strategic partnership with the Cohen family office and a team with more than 80 years of combined real estate experience, the firm combines institutional rigor with the flexibility to capitalize quickly on evolving market dynamics.

About Snowball Developments

Founded in 2021, Snowball Developments is a New York City-based real estate investment firm created to acquire under-utilized and under-invested properties in the Greater NYC Tristate region with the opportunity for impactful and financially responsible renovations and long-term development potential.

The firm's singular mission is to enhance the built environment through its property investments, which we believe drives the highest and most durable returns to our investors. Snowball Developments delivers these returns by de-risking the transaction through extensive diligence in the acquisition process and actively pursuing accretive leasing transactions pre-closing.

About Devli Real Estate

Founded in 1986, Devli Real Estate owns, operates, and develops a diverse, high-quality real estate portfolio across the industrial, retail, residential, office, self-storage, and hospitality sectors. Based in Weehawken, NJ, the company's portfolio comprises real estate across a wide range of industries, property types and markets across the United States, providing leading companies the space they need to excel and thrive.

Media contact:

Steve Vitoff
Regal Ventures
516 652 0785
[email protected]

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SOURCE Regal Ventures