C&S warehouse sells for $15.5 million

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Published: 10/10/2022 19:38:11

Modified: 10/10/2022 19:38:01

HATFIELD — A Boston-area commercial real estate company recently purchased a large warehouse on Elm Street long occupied by C&S Wholesale Grocers as its Hatfield South site, but apparently vacant for a few months, for $15.5 million.

FoxRock 142 Elm Realty LLC of Braintree has purchased the 142 Elm St. property from ARC HR5CSMA002 LLC, also known as Inland South Hatfield Elm LLC, of ​​Newport, Rhode Island.

This entity had owned it since December 2006, when C&S sold the Elm Street site for $19.3 million and its second Hatfield location at 95 North Hatfield Road for $37.3 million.

At the time, the sale of the Hatfield warehouses, as well as one in Westfield and another in Aberdeen, Maryland, meant that C&S would lease those spaces, rather than own them, with the leases due to expire in 2022. .

Information filed with the Securities and Exchange Commission showed that C&S would pay rent for the properties, with an annual base rate of $4 per square foot for the 142 Elm St. site and $5.50 per square foot for the site at 95 North Hatfield Road, or $1.3. million and $2.6 million per year, respectively.

It’s unclear whether the operations of C&S or its 1,000 employees in Hatfield are affected by the latest sale, although a new food distribution warehouse opened in Connecticut last year to serve 450 Stop & Shop stores.

Board chair Diana Szynal said C&S generally had little interaction with its board and was not aware of any changes to its warehouses.

Lauren La Bruno, spokeswoman for C&S, said the company was looking for ways to create value for its customers and accelerate the delivery of top-notch services, but could not answer questions about its operations.

“It is a long-standing practice of C&S Wholesale Grocers not to comment on questions regarding structural changes,” LaBruno said.

An online listing of the property at 142 Elm St. shows it contains 359,938 square feet, was built in 1968, has 23-foot ceilings and 114 parking spaces and is located on nearly 50 acres of property. .

FoxRock’s portfolio includes properties containing more than 4 million square feet of medical, commercial, office and industrial space.

Scott Merzbach can be contacted at [email protected]

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