Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

Updated: January 15, 2020 Deal Watch Today

Greater Hartford’s 2019 top 20 commercial property deals fetch $501M

HBJ Photo | Joe Cooper Hartford’s Gold Building sold last year for $70.5 million.
By Joe Cooper

Investors in Greater Hartford commercial real estate properties spent more than $501 million in the 20 largest deals of 2019, an analysis by Hartford Business Journal found.

Many of the deals drew headlines last year, including the $70.5-million acquisition of downtown Hartford’s Gold Building, and the $70-million takeover of J.C. Penney’s former Manchester distribution center.

However, there were several major purchases that went largely unnoticed.

That includes the $53.3 million acquisition of Bloomfield’s Hawthorne at Gillette Ridge apartments by Charger Ventures LLC, a Washington, D.C.-based multifamily investment and management company. The roughly 250-unit apartment complex on Cigna’s campus, located at 2 Francis Way, has changed hands several times since the units were built in 2004.

Another multifamily housing complex in Windsor at 1 Phaeton St., was sold to Ohio investment firm The Embassy Group LLC for $47.2 million. The so-called Rivers Bend Apartments sit on 88 acres near Farmington River Park.

Also in Windsor, Kentucky-based hospitality firm Columbia Sussex Corp. spent $39.4 million on five acres of undeveloped land adjacent to the Marriott Hartford/Windsor Airport at 20 Day Hill Road. The land is immediately off Interstate 91 and is part of the steadily growing Day Hill Road corridor.

Other notable Greater Hartford property sales in 2019 included:

  • Moshe Wechsler acquired downtown Hartford’s “Candy Cane Building,” 10 Columbus Blvd., for $16.8 million.
  • Hart Realty Advisers Inc. acquired Middletown’s Stonegate Apartments, 1150-1160 South Main St., for $15.6 million.
  • Medical Properties Trust Inc. acquired a medical-office building in Manchester, 945 Main St., for $15.2 million.
  • Capstone Properties LLC acquired a Glastonbury office building at 455 Winding Brook Drive for $12.2 million.

A full list of Greater Hartford’s top 20 commercial property sales can be found in HBJ’s 2020 Book of Lists.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF