Cushman & Wakefield secured three sales in 45 days in Central Connecticut

November 15, 2019 - Connecticut

New Haven, CT Cushman & Wakefield secured three major sales in 45 days that reinforce Central Connecticut as a highly marketable area for new developers and businesses of all sizes.

Winchester Works is the name given to 115 Munson St., a 144,000 s/f class A office & lab building with ground floor retail located near Yale University’s Science Hill. It was sold to Twining Properties as part of a larger $150 million redevelopment, that is designed for innovation and collaboration as part of the master-planned Winchester Center, a mixed-use place to live, work and play.

The second property at 35 Thorpe Ave. is known as Signature 91 and is a three-story, multi-tenant, class A office building of 80,000 s/f. The brick and glass structure is situated on 6.7 acres and is located at Exit 15 off I-91 at the intersection of Rte. 68 in Wallingford. Signature 91 features an on-site fitness center and is located near the airport and to central Connecticut’s two major business centers in New Haven and Hartford. 

The final property at 599 Research Parkway in Meriden is a 48,249 s/f office building long known as the Verizon Building. 

This property provides some of the largest available contiguous space in both Hartford & New Haven County and features 900 ft of frontage along I-91, between exits 15 and 17 with nearby access to I-691, Rte. 15 and I-84.

“Sales of more than 250,000 s/f across the three properties in such a short amount of time is indicative of a real interest in the market” said Bob Motley, director at Cushman & Wakefield. “These transactions prove investors are hyper aware of this region’s appeal and we expect this high level of desirability to continue.” 

These deals speak to the attractiveness of the central Connecticut market and were secured by Cushman & Wakefield’s Connecticut team, led by director Bob Motley and senior brokerage director Evan O’Brien. All of these properties lend themselves to repositioning to attract the tenants that these landlords are going to be looking for.

All are located along a 20-mile stretch of I-91 offering easy access to the rest of Connecticut. The area is within three hours by car to New York and Boston with the business hubs of Stamford and Hartford both easily accessible.

Tags:

Comments

Add Comment


More from the New England Real Estate Journal