Home Depot U.S.A., Inc. and Ferguson Enterprises Complete Lease-Up at Luzern Associates and Foxfield's 425 Day Hill Road in Windsor, Connecticut

Luzern Associates and Foxfield have completed the full lease-up of a 170,300-square-foot speculative industrial building at 425 Day Hill Road in Windsor, Connecticut, with Home Depot U.S.A., Inc. and Ferguson Enterprises occupying the entire property, the firms announced Aug. 20.

Home Depot U.S.A., Inc. signed a long-term lease for approximately 117,000 square feet and took occupancy in January 2026. Ferguson Enterprises inked a five-year lease for the remaining 53,300 square feet, commencing in April 2026. The new facility will support Home Depot's logistics and operations footprint in the Northeast. The Windsor location marks Ferguson Enterprises' second in the town.

Deal Details and Tenant Terms

The 170,300-square-foot building at 425 Day Hill Road is now 100% leased following the two transactions. CBRE served as exclusive leasing broker for Luzern Associates and Foxfield in both deals, with Christopher Metcalfe and Kyle Roberts leading the assignment.

Development and tenant buildout costs for the project totaled approximately $28.5 million, or roughly $167 per square foot. Luzern's affiliated entity acquired the underlying land — two former office parcels at 415 and 425 Day Hill Road — from The Real Group II LLC for $1.2 million in April 2022, establishing a low land basis for the value-add conversion.

Windsor's Planning and Zoning Commission granted a special use permit tied to the 117,000-square-foot portion leased by Home Depot U.S.A., Inc., with a 7-year, 8-month time limit contingent on execution of the lease.

"We're pleased to welcome Home Depot and Ferguson to 425 Day Hill Road," said Nicholas Campofranco, a Principal of Luzern. "The decision by each tenant to lease space at the property illustrates the quality of the building and location. Additionally, their presence underscores the strength of the greater Windsor industrial market and reflects the continued demand from nationally recognized tenants drawn to the region's workforce, locational advantages, and modern Class A industrial facilities."

Building Specifications and Location

The Class A industrial building features 32-foot clear heights, 25 loading docks, drive-in loading capability, a parking ratio of 1.47 per 1,000 square feet, and sustainable design efficiencies intended to support logistics and e-commerce users. The structure was built using tilt-up concrete construction with a partially solar-ready roof.

The property sits less than two miles from Interstate 91, north of Hartford on the Day Hill Road corridor, providing connectivity to major highways and regional distribution networks across New England.

ARCO served as general contractor on the project. Chris Alford and his team at Alford Associates also contributed to the development.

Adaptive Reuse on Day Hill Road

The project represents the first office-to-industrial conversion on the Day Hill Road corridor. The site previously contained two office buildings originally constructed around 2001–2002 — a roughly 54,000-square-foot building at 415 Day Hill Road and an approximately 25,000-square-foot building at 425 Day Hill Road. Luzern identified the site through an off-market transaction and, together with Foxfield, designed the replacement industrial building and secured approvals from the Town of Windsor.

The conversion reflects broader conditions along the Day Hill Road corridor, where office vacancy has climbed significantly in recent years. Windsor's office market carried a vacancy rate of approximately 59% across its 3.16 million square feet of office inventory as of 2024, with Class A office vacancy reaching 75.7%. A corridor study found more than 2 million square feet of office space available along Day Hill Road, representing roughly 60% of the corridor's total office inventory.

The speculative warehouse was delivered in early 2024 and reached full occupancy with the Ferguson Enterprises lease commencing in April 2026.

About the Firms

Luzern Associates, LLC is a Greenwich, Connecticut-based real estate private equity firm founded in 2007 by Salvatore Campofranco. The firm focuses on transforming undervalued properties in the Northeast through ground-up development, value-add renovation, and a mark-to-market leasing approach. Foxfield is a Boston-based industrial and logistics developer that partnered with Luzern on the 425 Day Hill Road project.

Sources: Luzern Associates – Luzern and Foxfield Complete Lease-Up at 425 Day Hill Road in Windsor, Connecticut