December 12, 2018
Deal Watch Today

Fla. firm acquires downtown Hartford data center for $5.2M

Photo | Contributed
Photo | Contributed
A Florida-based property management company has acquired a one-story building at downtown Hartford's Bushnell Towers & Plaza for about $5.2 million.

A Florida-based property management company says it has acquired a single-story data center at downtown Hartford's Bushnell Towers & Plaza for about $5.2 million.

CV REIT Management Co. LLC, a group of firms that own and manage commercial real estate with a focus on data centers, on Monday announced its acquisition of the data hub known as the Hartford Data Center at 1 Gold St.

The company, based in Tampa, Fla., said the 19,347-square-foot space has recently been renovated by an unspecified tenant.

A Verizon Wireless spokeswoman later Wednesday confirmed the telecommunications company is the building's lone tenant.

Verizon in January signed a lease for the space running through Dec. 2030. The telecommunications company said it has about 10 employees at the Gold Street location.

The acquisition surfaces as Hartford landlords are growing optimistic about filling more downtown office space.

Downtown's current vacancy rate for all office buildings is estimated at 15.5 percent vs. an 18 percent vacancy rate during the third quarter, according to commercial realty adviser Cushman & Wakefield.

This story has been updated to note Verizon Wireless as the building's tenant

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