Griffin Land Announces Lease Expansion and Extention to Mistras Group

3/26/2013

East Granby, CT - Griffin Land is pleased to announce that Mistras Group has extended and expanded its lease within the New England Tradeport business park, at 16 International Drive, East Granby CT. Mistras Group now occupies approximately 17,000 square feet, nearly one-third of the leasable area within this building.

"This renewal and expansion is yet another example of how businesses have grown with us in our business parks", said Tim Lescalleet, Senior Vice President of Griffin Land. "We can provide the business with the in-place scalability that tenant's need in order to prevent any disruption of their existing operations." Other recent examples of businesses growing with Griffin land include expansions of AAR Corp. and A.N. Derringer within New England Tradeport, and Great American Insurance with the Griffin Center office park.

16 International Drive is a 58,370 square foot multi-tenant industrial building located within New England Tradeport, a 600-acre business park that was master-planned and developed by Griffin Land, in Windsor and East Granby CT. The park has excellent highway access to I-91, which easily connects with I-90 & I-84. The park presently consists of sixteen industrial buildings totaling over 2.6 million square feet, with additional permitted and un-entitled sites able to accommodate an additional 2 million square feet of development. Its tenant roster includes many of America's top companies including Walgreens, Dollar Tree, Pitney Bowes, Pepsi, Eaton Corporation, UPS, Tire Rack, Domino's, Matheson, Velux and Westinghouse. The park is also a federally approved Foreign Trade Zone (FTZ#71) and part of the recently created Bradley Economic Development Zone, both of which offer significant incentives that can deliver real estate and operational cost reductions to qualified users.

Mistras Group combines industry-leading and innovative products, systems and software technologies, expertise in mechanical integrity and nondestructive testing services, and proprietary data warehousing and expert analysis software to deliver a comprehensive portfolio of customized solutions, ranging from routine inspections to complex, plant-wide asset integrity assessments and management. These mission critical solutions enhance their customers' ability to extend the useful life of their assets, improve availability and productivity, minimize repair costs, comply with governmental safety and environmental regulations,manage risk and avoid catastrophic incidents.

Griffin Land is the real estate division of Griffin Land & Nurseries, Inc., a publicly traded company (GRIF). Griffin Land is the developer of more than three million square feet of commercial space on land holdings totaling nearly 4,000 acres in Connecticut, Massachusetts, and Pennsylvania. Griffin Land is an owner operator providing development, marketing, construction, management and maintenance of its portfolio.

Developments include the Griffin Center business park in Windsor & Bloomfield, CT, the New England Tradeport industrial park in Windsor & East Granby, CT, and the Lehigh Valley Tradeport industrial park in Bethlehem, PA. In addition, Griffin Land also develops residential communities including Walden Woods, a 435 unit master-planned community in Windsor, CT, and Meadowood, a recently approved 296 unit master-planned development in Simsbury, CT.

In addition to its real estate business, Griffin Land & Nurseries also operates a landscape nursery business, Imperial Nurseries, Inc.


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