Colliers
20-28 Sargeant St. sits on 3.63 acres.
February 6, 2025
Express Kitchens CEO Kothari lists major Hartford industrial property for sale; seeks development partners to enhance building
COSTAR
20-28 Sargeant St., Hartford
A 183,000-square-foot Hartford industrial property owned by the CEO and founder of Express Kitchens has been put up for sale, according to a listing.
The former Veeder-Root property in Hartford’s Asylum Hill neighborhood, at 20-28 Sargeant St., has an asking price of $4 million.
The building is owned by 20 Sargeant Street LLC, a limited liability company controlled by Max Kothari, founder and CEO of Hartford-based kitchen remodeling company Express Kitchens.
Kothari struck a deal with the city in 2019 to buy the property’s tax liens worth $1.6 million. Completion of the transaction was delayed by the pandemic. Land and court records show the property went through a foreclosure process that was resolved in 2022.
Land records also show the city provided 20 Sargeant Street LLC with financing to cover a portion of the purchase price of the tax liens.
According to a Sept. 22, 2022, mortgage agreement between 20 Sargeant Street LLC and the city, the $751,649.31 debt is due to mature on July 30, 2025.
The mortgage required 20 Sargeant Street LLC to make annual payments of $187,912.44, plus accrued interest, starting in July 2022 and ending in July 2025.
In an interview Thursday morning, Kothari said he expects to soon make a final payment to the city on the mortgage. He also said he’s been able to stabilize the building, improving its occupancy rate from about 30% to between 70% and 80%.
Express Kitchens occupies between 20% and 30% of the building, while the remaining occupied space is home to various nonprofits, including Our Piece of the Pie.
HBJ FILE PHOTO
Max Kothari is the founder and CEO of Hartford-based Express Kitchens.
Kothari said he put the building up for sale because he’s looking for potential development partners to enhance the building.
“I think we can enhance that property more and do something more creative over there,” Kothari said. “I'm not a developer by trade, so this is how I'm reaching out to the community, to say, hey, what can we do to enhance the building.”
Kothari said he’d like to entertain creative uses for the property. For example, he said he was approached by a nonprofit that wanted to create an entrepreneurial center in the building.
“I'm actually not looking for a pure sell,” he said. “I'm looking for development partners.”
According to a listing from Colliers, the building has four loading docks, one drive-in door, 11.3-foot ceiling heights and 110 covered and 75 surface parking spaces.
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