Rentschler Field 2.5 million SF Warehouse Completed

East Hartford, CT — One year after a 2.5 million square foot industrial distribution facility broke ground in East Hartford, the project was completed in March 2024. The site was leased to Lowe’s (1.3 million SF) and Wayfair (1.2 million SF) on long term leases. National Development purchased the 300 acre parcel from Ratheon for over $78 million ($31/sf FAR). The leases were 10+ Years each. Wayfair announced in late 2023 that it was looking to sublease a portion or all of its space. Based on where rental rates have increased to for new distribution product in the market, there should be a considerable delta from the lease rate to the current market rates for such space.

An article on at the ground breaking is attached