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December 29, 2021

UConn’s former West Hartford campus has a new buyer

UConn's former West Hartford campus has a new owner, West Hartford 1 LLC.
By Greg Bordonaro

UConn’s former West Hartford campus, which was purchased by a fintech company that planned to establish a major tech campus there but later abandoned the plans, has been sold for $2.75 million to a new buyer, according to the broker involved in the deal and town records. 
 
It was not immediately clear who the buyer was or what their plans are for the property. 
 
All that was made public Wednesday afternoon was that the buyer is West Hartford 1 LLC, but no limited liability company under that name is currently registered with the state, records show. 
 
In a statement, the buyer said it  looked “forward to developing a vision for the property that engages our West Hartford neighbors, key community organizations and town officials.”
 
John Cafasso and Ian Hunt of Colliers International represented the seller, New York-based fintech Ideanomics Inc. in the sale.
 
The 58-acre property at 1700 and 1800 Asylum Ave. was put up for sale in 2020 after Ideanomics pulled out of a planned  $400-million development for the site.
 
Cafasso previously told HBJ that the property was ideally suited for multifamily, medical office, retail, recreational and/or open space use for the community.

Ideanomics acquired the former UConn property in late 2018 for $5.2 million.

Colliers' property listing said the Asylum Avenue site was the largest to come to market in West Hartford in the last two decades. At the time of the listing it housed four buildings totaling 157,662 square feet that were previously used as academic buildings by UConn.

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