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NY Group Buys 391,178-SF Hartford, CT Building

HARTFORD, CT-The 23-story high-rise One Corporate Center office building in downtown Hartford has been purchased by a New York City-investment group.

By John Jordan | Updated on July 21, 2002

HARTFORD, CT-Marcus & Millichap reports it has brokered the sale of the 391,178-sf One Corporate Center office tower in downtown Hartford to a New York City-based investment group.

Officials with the New Haven-based brokerage firm say that the buyer is Church Operating LLC. New York Life held the paper on the property, according to Victor Nolletti of Marcus & Millichap. Nolletti and Steven Witten of Marcus & Millichap represented the buyer in the deal. No terms of the transaction were released. Church Operating LLC acquired the note and encumbering mortgage on One Corporate Center, which is located at 20 Church St. in downtown Hartford, and will now be operating and managing the 23-story building. The building consists of 21 floors and two penthouse levels.

Fleet Bank had leased approximately half of the building until recently. Major tenants at the property now are Channel 61 and several law firms. Currently, Nolletti says that there is about 300,000 sf of available contiguous space at the building. He adds that the new ownership plans to undertake a multi-million-dollar capital improvement program at the property.

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