Glastonbury, CT TruNORTH Construction secured approvals from the town to begin the construction of a $7 million office condominium complex. The Offices at Addison Square will consist of 18, customizable units that are available for purchase.
Co-owner of TruNORTH, Jeff Sawyer has designed a model in which small business owners and/or investors have the opportunity to build equity while continuing to cultivate their respective bottom lines or enhance their investment portfolios by buying instead of renting. “The timing was right, despite the current state of the world. As entrepreneurs ourselves, we have always believed in helping fellow business owners secure a financially sound future and this office complex is another chance to do exactly that,” said Sawyer.
The complex will be located at 219 Addison Rd. and the three structures will take up 2.5 acres. The design will pay tribute to the historic farmlands and the barn that currently sits on the site. The aesthetic is one that aligns to present day trends and the residential feel of the neighborhood – as opposed to your traditional office plaza “vibe”.
“We wanted to incorporate design elements that demonstrated our commitment to the town’s history and present-day neighborhood. We also wanted to take part in a project that would help to drive commerce, especially during such a trying time for our communities. The Connecticut real estate market is strong right now, business owners and investors are looking for affordable properties with strong earning potential. It was the right time,” said Matthew Powers, co-owner of TruNORTH.
The company has a history of developing similar condos in the area, including 33-units in South Windsor between 2004 and 2008 and 12-units in Glastonbury in 2010.
Kurt Potter of RE/MAX Right Choice said, “This is a unique opportunity to buy-in to a great investment that comes with it a likely return. While there are many unknowns when it comes to the market, buying over renting is always ideal from a long-term investment return standpoint.”
The project will take approximately a year and a half to complete but potential buyers are able to secure units now. Kurt will be available to provide additional information as it relates to specs and can arrange virtual/in-person walk-throughs of previously completed office spaces for reference.