The real estate company that purchased Hartford’s Metro Center tower earlier this year has a struck an $8.3 million deal for an industrial building with some of the highest ceilings in the state.
The Fremont Group, based in West Hartford, purchased the 184,700-square-foot, industrial building at 29 Research Pkwy. on the Wallingford-Meriden line in an “off market” deal with First Industrial Realty Trust, a Chicago-based real estate investment trust.
The building was constructed for Radio Frequency Systems, a subsidiary of Alcatel Lucent, about a dozen years ago. RFS, a supplier of wiring to the telecommunications industry, has a lease that expires in June, Jonathan Keller, president of The Fremont Group, told me.
The ceilings, at 35 feet in height, compare with older, industrial buildings in Connecticut that typically have ceilings of 16-20 feet, Keller said.
Fremont, founded in 1996, owns about 1.5 million square feet of industrial space in Greater Hartford, including Prestige Park in East Hartford. Fremont’s office holdings, including the recent addition of the 296,000-square-foot Metro Center, total 900,000 square feet.