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January 10, 2020 Deal Watch Today

Hartford HealthCare plans major downtown Hartford expansion

Photo | Contributed 100 Pearl St. in downtown Hartford.

Hartford HealthCare is slated to become the lead tenant at downtown Hartford’s 100 Pearl St. Class A office tower, the Hartford Business Journal has learned.

HHC confirmed the lease commitment Friday morning, after HBJ learned from several sources that the health system plans to occupy approximately 80,000 square feet of space at the blue-glass sheathed office tower.

HHC plans to occupy six floors at 100 Pearl, which lost its former marquee tenant, Virtus Investments, about a year ago when the asset-management company moved across the street to the Gold Building.

Over the summer, staffing agency Robert Half International relocated 58 workers from 100 Pearl to CityPlace I.

The new space would add to HHC’s growing downtown presence, which includes corporate offices at One State Street established in 2011. In November, it launched a healthcare technology accelerator program at Constitution Plaza.

Details on exactly which operations HHC is moving to 100 Pearl were sparse Friday, but the system is not expected to abandon its State Street offices, sources said.

Photo | Contributed
Hartford HealthCare CEO Jeffrey Flaks

CEO Jeffrey Flaks said over the summer that HHC was seeking around 15,000 square feet of downtown space for its supply-chain division.

Flaks released a brief statement Friday about the 100 Pearl lease:

“This space in the heart of downtown Hartford will be used to drive innovation, create greater efficiencies, and better meet the needs of people statewide who depend on our growing system of care,” Flaks said. “While many details are still being finalized, we are proud of this transformative project for the City of Hartford. We are planning a major announcement on the impact we expect this, and other emerging initiatives, will have in our Capital City.”

100 Pearl St. is owned by New York landlord-owner Shelbourne Global Solutions LLC, which has become downtown Hartford’s most prominent landlord. 

Shelbourne declined to comment for this story.

In September, Shelbourne announced it was making a multimillion-dollar investment in 100 Pearl to give the 17-story skyscraper an interior facelift and new amenities, including a virtual golf-simulator, putting green, and Wi-Fi enabled bleacher seating in the lobby. 

Shelbourne acquired 100 Pearl in March 2015 for $37 million from New Jersey’s Silverman Group.

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January 13, 2020

I worry that Mr Flaks is increasing costs for health care,exorbitant as they are now.

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