Seyon Group and BGO Acquire 612,445-Square-Foot Hartford Industrial Portfolio
BGO and Seyon Group have acquired a 612,445-square-foot, 16-building small-bay industrial portfolio in the Hartford, Connecticut metropolitan area, the firms announced Oct. 29. The portfolio is approximately 94% leased, and the transaction expands the industrial partnership between BGO, a global real estate investment manager, and Seyon, a Boston-based, vertically integrated investor, owner and operator of industrial real estate.
The acquisition is the second announced deal between the two firms in 2026. It follows their July 2026 purchase of the 134,413-square-foot Marlborough Portfolio in Massachusetts.
Hartford Industrial Portfolio Details
The Hartford portfolio comprises two groups of properties in East Hartford and Windsor, Connecticut. Prestige Park in East Hartford includes 11 buildings totaling approximately 416,863 square feet. The Marshall Phelps Portfolio in Windsor consists of five buildings totaling approximately 195,582 square feet.
Across both campuses, the properties offer flexible small-bay warehouse and flex-industrial configurations designed to accommodate a range of smaller and mid-sized users. The portfolio supports light manufacturing, distribution, logistics, technology and service-oriented uses.
At approximately 94% leased, the portfolio carries roughly 36,747 square feet of vacancy.
Location and Regional Access
The properties sit within two established Hartford-area industrial nodes. Prestige Park provides access to Interstates 84 and 291, while Marshall Phelps offers connectivity to Interstate 91 and Bradley International Airport. Hartford's central location between the Boston and New York metropolitan areas also provides regional access across the Northeast.
Executives Comment on the BGO and Seyon Partnership
"The acquisition of the Hartford portfolio is a continuation of BGO's research driven investment strategy in a market where we have strong conviction for future growth," said Kevin Yen, Principal at BGO. "Following our recent investment in Marlborough, we are pleased to expand the relationship with Seyon into the Hartford market with a portfolio that combines flexible small-bay industrial space, strong regional connectivity and a diverse user base. We look forward to continuing to invest alongside Seyon and applying our complementary capabilities to enhance the portfolio over time."
Andrew Iglowski, Co-Founder and Managing Partner at Seyon, said: "Expanding into Hartford with BGO is a natural progression of our partnership and of Seyon's industrial strategy. Prestige Park and Marshall Phelps give us meaningful scale in a market with a deep base of industrial users and a strong fit with the type of flexible, infill product we know well. Owning more than 600,000 square feet in one market allows us to operate more efficiently, give tenants room to grow within our portfolio, and invest meaningfully in the properties."
Partnership Structure and the Marlborough Precedent
BGO is serving as the institutional capital partner, while Seyon provides the operating platform, including property and construction management. The structure pairs BGO's investment capacity with Seyon's focus on shallow-bay and flex-industrial assets.
The partners' July 2026 Marlborough acquisition comprised 261 Cedar Hill Street, a 59,404-square-foot building, and 753 Forest Street, a 75,009-square-foot building. Both were fully leased at acquisition and together include 17 dock doors, four drive-in doors and 353 parking spaces. The Marlborough portfolio was purchased for $28.15 million, or approximately $209.43 per square foot.
Hartford Industrial Market Conditions
Hartford's industrial market showed improving tenant demand in the third quarter of 2026. Net absorption reached 224,000 square feet, and vacancy declined 30 basis points to 7.0%. Leasing activity rose to 407,000 square feet, up 27% quarter over quarter and 25% above the three-year quarterly average. Average asking rents increased 5% quarter over quarter to $7.68 per square foot.
With the acquisition, BGO and Seyon will control more than 600,000 square feet in a single Hartford-area market. Seyon's Iglowski said the scale allows the firms to operate more efficiently, accommodate tenant growth within the portfolio and invest in the properties.
About BGO and Seyon Group
BGO is a global real estate investment management advisor serving more than 750 institutional clients. Together with Bell Partners Inc., which was acquired by Sun Life and combined with BGO on July 2, 2026, the firm had approximately US$100 billion of assets under management as of June 30, 2026. BGO has offices in more than 25 cities across twelve countries and is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
Seyon Group is a Boston-based industrial real estate investment and operating company specializing in small-bay industrial real estate. Founded in 2017 by Bryan Blake and Andrew Iglowski, Seyon acquires, repositions and operates industrial assets through a vertically integrated platform.
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