Category Archives: On the Market: Commercial Properties For Sale

The Hartford’s Simsbury Campus Now Up For Sale

by Categorized: On the Market: Commercial Properties For Sale Date:
The Hartford's Simsbury campus is now on the market. Photo Credit: CBRE-NE.

The Hartford’s Simsbury campus is now on the market. Photo Credit: CBRE-NE.

The Hartford’s sprawling suburban campus in Simsbury is on the market, six months after the insurer announced it would shutter the facility and move employees elsewhere.

The 133-acre complex at 200 Hopmeadow St., includes a four-story, 641,000-square-foot building. The property is being marketed without an asking price, according to John M. McCormick, executive vice president in the Hartford office of commercial real estate firm CBRE-NE. CBRE-NE is marketing the property with Cresa-Boston.

In February, The Hartford Financial Services Group Inc. — scaling back to focus on more profitable businesses — said it would close the Simsbury campus, one of its three main locations, over the next two years and relocate 1,500 employees to offices in Hartford and Windsor.

The Hartford has long been Simsbury’s largest taxpayer, and the town will work with the insurer to sell the property, McCormick said.

The Simsbury property was developed for The Hartford in 1984, but until 2010, the insurer didn’t own the building, just the land. In 2010, The Hartford purchased the building at 200 Hopmeadow St. for $46 million, town records show.

The number of The Hartford’s employees in Simsbury has declined, especially since it sold three business lines in the past year in a major restructuring.

If the property sells quickly, The Hartford has said it would accelerate the transfer of employees.

 

 

West Hartford Convent, Grounds May Be Sold For Redevelopment

by Categorized: On the Market: Commercial Properties For Sale, Uncategorized Date:

My colleague Julie Stagis reports that the Sisters of St. Joseph are seeking to sell their expansive 22-acre campus at the corner of Park Road and Prospect Avenue.

The sisters have requested proposals for potential development of the property, which also includes a 185,000-square-foot convent and a chapel.

Julie reports:

Town officials say the property provides a unique opportunity for new development in a town that’s mostly built out. Between this and the upcoming sale of the 58-acre University of Connecticut property off Trout Brook Drive, the town may see new development occur at a level that it hasn’t in years.
Read Julie’s story here.

On The Market: Hartford Building Was Part Of 1860s Streetscape

by Categorized: Downtown Hartford, On the Market: Commercial Properties For Sale Date:

The building at 6 Central Row in downtown Hartford was constructed around 1860 and is now listed for sale. Photo by Kenneth R. Gosselin/kgosselin@courant.com.

Downtown Hartford’s skyline today is dominated by skyscrapers, including the state’s tallest tower, CityPlace I.

But it still is possible to get a sense of what the city looked like in the mid-19th century when buildings rarely rose above five stories.

One such building is the brownstone faced and trimmed Italianate-style structure at 6 Central Row, now listed for sale.

In the 1860s, the entire block on the south side of Central Row between Main and Prospect street was of a similar scale. The appearance of the block — opposite the Old State House — changed dramatically in the 1920s with the construction of two, Colonial Revival-style skyscrapers — the Hartford Connecticut Trust Building and the Travelers Insurance Building — on either side of 6 Central Row.

Hartford’s Central Row as it appeared from Main Street in the late 1800s. Six Central Row is the second building on the right. Courant File Photo.

Though now dwarfed by the two and sandwiched in-between, 6 Central Row dictated the height of the base of the trust building. Later, the street-level floor of 6 Central Row was altered, rendered in the same limestone as the trust building’s base.

For decades, 6 Central Row was home to the venerable brokerage Putnam, Coffin & Burr and its successor, Advest Inc. In the 1940s, the brokerage had a “leader board” listing all the of most active stocks. When stock trades were reported by the ticker tape machine, the prices were called out by one person and the leader board was changed by another.

Central Row as it appears today. Photo by Kenneth R. Gosselin/kgosselin@courant.com

The 12,300-square-foot building is on the market with an asking price of $900,000. The current owners, Blair Central Row LLC of Hackettstown, N.J. paid a little over $1 million in 2006. The building is 50 percent occupied with short-term tenants.

Patrick Mulready of CBRE in Hartford has the listing.