Farmington, CT JLL Capital Markets has arranged financing for the acquisition of 175 Scott Swamp Rd., a three-story office building totaling 100,539 s/f.
JLL worked on behalf of the borrower, Northpath Investments, to secure the five-year, non-recourse, acquisition loan through bank ESB.
175 Scott Swamp Rd. is fully occupied by ConnecitCare, Inc. a large regional health insurance provider and subsidiary of Emblem Health who has occupied the property since it was originally constructed in 2002. The property is part of a 16.5-acre, two-building office campus. Building Two is the sole property included in the financing as the properties are owned under separate condominium interests. The building is one of the newest and highest quality properties in the Farmington submarket and offers on-site amenities, including a cafeteria and parking for more than 530 vehicles.
The property is positioned 13 miles southwest of downtown Hartford and less than five miles to I-84, which provides access to the greater New York City metro to the south and New England to the north.
The JLL Capital Markets team representing the borrower was led by senior managing director Michael Klein, director Max Custer and analyst Salvatore Buzzerio.
“We are pleased to have assisted Northpath Investments in another financing assignment with bankESB,” said Custer. “175 Scott Swamp is a high-quality office building that has maintained stable occupancy for the past two decades.”