Leasing Activity
CBD
Transactions completed in the last 90 days include:
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State House Square (848,000 s.f., Class A) continues to benefit from Travelers’ growth in the CBD of Hartford. The owners of State House Square completed lease terminations with ING for the 8th, 9th, and 10th floors and Catlin Specialty Insurance Company on the 6th floor of 10 State House Square. Travelers then entered in to long terms leases for each of these spaces totaling 61,300 s.f.
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20 Church Street, a 400,000 s.f., Class A office tower with recent renovations, continues to attract new tenants. Four leases have been signed recently:
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The law firm of Cantor Colburn for 48,800 s.f.
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The law firm of Edwards, Angell, Palmer & Dodge for 28,150 s.f.
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FirstLight Power Resources for 24,400 s.f.
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Catlin Specialty Insurance Company for 13,200 s.f. on the top floor of the building.
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PriceWaterhouseCoopers recently relocated 45,000 s.f. to CityPlace I.
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Travelers is also finalizing a 22,000 s.f. sublease with CitiGroup for the 4th floor of Connecticut River Plaza, a 575,000 s.f., Class A office complex.
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McCarter & English expanded by 8,563 s.f at CityPlace I in Downtown Hartford and lease a total of 43,316 s.f.
Suburbs
Transactions completed in the last 90 days include:
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ADP renewed their lease for 37,000 s.f. at 100 Corporate Drive in Farmington.
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United Health Group leased 15,400 s.f. at 100 Northfield Drive in Windsor.
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MedKnowledge leased 15,000 s.f. at 2080 Silas Deane Highway in Rocky Hill.
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Community Solutions expanded and extended their lease at 4 Griffin Road North in Windsor. They now lease 13,153 s.f.
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Two leases were signed at 95 Glastonbury Boulevard in Glastonbury this quarter:
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Topcoder leased 11,000 s.f.
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AdviceOne relocated from 115 Glastonbury Boulevard to 95 Glastonbury Boulevard.
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Gateway Financial Group expanded to about 10,000 s.f. and renewed their lease at 500 Winding Brook Drive in Glastonbury.
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Software Marketing Associates leased 8,000 s.f. at 1086 Elm Street in Rocky Hill.
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80 Lamberton Road in Windsor captured Office Depot for 6,500 s.f.
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Executive Management Consultants leased the former AdviceOne suite (6,300 s.f.) at 115 Glastonbury Boulevard.
Building Sales
CBD
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Connecticut River Plaza, a 575,000 s.f., Class A office complex with an 875 space parking garage is being marketed for sale. The asset is 100 percent leased through August, 2010.
100 Pearl Street, a 280,000 s.f., Class A office building owned by New Boston Fund, is being marketed for sale as a package with 500 Enterprise Drive, Rocky Hill (arguably the best suburban office building in Hartford County). 100 Pearl Street is currently 50 percent vacant.
Suburbs
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500 Enterprise Drive in Rocky Hill (302,000 s.f., Class A) is currently being marketed for sale. The office building is currently 95 percent leased.
An office portfolio consisting of 55 & 77 Hartland Street, East Hartford, 60 Founders Plaza, East Hartford and 655 Winding Brook Drive, Glastonbury (288,550 s.f., Class A) is under contract to be sold in the East Market.
8 Farm Springs Road in Farmington, a 104,000 s.f., Class A office building, is being marketed for sale. The asset is 100 percent leased through August, 2012.
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43 Western Boulevard in Glastonbury, a 72,000 s.f., Class A office building, is under contract to be sold. The asset is currently owned and occupied by AMICA Insurance.
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