Andrew Grocki of Sullivan Hayes Companies in Farmington, in conjunction with Robert Takach of CB Richard Ellis, brokered a 20-year lease of 9,000 s/f at the corner of Trumbull St. and Asylum Ave. The tenant is Sovereign Bank, and the space includes a full-service branch office on the ground floor, as well as a new, two-floor regional headquarters for the bank.
The Sovereign deal created an opportunity for both the tenant and the landlord, Newgate Corporation, to reinvest in the building and return its stature as a focal point of the downtown financial district.
In another transaction, LA Fitness, an Irvine, Calif.-based chain of Fitness Clubs, has continued its expansion into southern New England with its newest opening in Bristol. Tim McNamara of Sullivan Hayes represented LA Fitness in the reverse build to suit deal which anchors the redevelopment of the former Larson Farm property on Rte. 6, just west of the Farmington town line. Matt Halprin of New England Retail represented the landlord in the transaction.
The club measures 45,000 s/f, of which 42,000 s/f are on the ground level and 3,000 s/f are mezzanine level. The positioning of the club, according to McNamara, was focused on capturing both the dense residential population of the Bristol market as well as the residential and commercial base surrounding Bristol in towns such as Farmington and Plainville.
Grocki also brokered the first New England location for Pollo Tropical at Charter Oak Marketplace in Hartford. Charter Oak Marketplace is a 260,000 s/f shopping center located at Flatbush Ave. and I-84, anchored by Walmart and Marshalls. Pollo Tropical will occupy a free-standing pad site in front of the plaza, joining McDonald's, Taco Bell and Popeye's.
Pollo Tropical is Florida restaurant chain with over 90 locations in Florida and New Jersey.