TruNORTH Construction to break ground on $7 million Addison Square project at 219 Addison Rd. in Glastonbury, CT

July 23, 2021 - Connecticut

Glastonbury, CT TruNORTH Construction is preparing to break ground on the $7 million Offices at Addison Sq. project this month. The office condominiums will be constructed at 219 Addison Rd. Each of the 18 units, built across four building structures will be between 1,350-1,500 s/f and are fully customizable based on occupant needs, including adding units together to accommodate larger business owners.

Approvals for the project were originally secured back in October but the developers delayed the start of construction as they gauged the uptick in the real estate market, and effects from the pandemic. Now they are ready to build full steam. “We know what this development will mean for the community. We want to be at the forefront of the economic recovery in the area, and to give local businesses the opportunity to invest in their companies, while building their real estate portfolios. We are confident that once investors see construction under way, the units will move quickly,” said Jeff Sawyer, co-owner of TruNORTH Construction.

Sawyer is no stranger to developing office condos and marketing them during challenging financial times. The TruNORTH team has a history in developing similar structures in the state. They sold 34 units in South Windsor in 2004 and 2012, and in Glastonbury in 2008. “If we can close deals during the worst economic downturn since the Depression, we can do it coming out of the pandemic,” said Sawyer.

Kurt Potter of Re/Max Right Choice is a partner in the project, and also the broker who will be taking the lead on selling the units. Some of the 18 units have already been secured purchasers wanting to pick their location within the project. He is feeling confident that the remaining units will soon be off the market as well. “Investors and progressive business owners, eager to find ways to capitalize on the real estate boom, understand the value of buying versus renting. This is an opportunity to build real estate equity while simply going to work every day. Glastonbury is a great town with a very business minded community that understands our value proposition. We can’t wait to talk to members of the community about the benefits of operating their businesses from Addison Sq.,” said Potter.

 

Tags:

Comments

Add Comment


More from the New England Real Estate Journal