The firm purchased the interest in 5 and 7 Waterside Crossing from USAA Real Estate Company. The office buildings are located in Griffin Center, an office building complex situated on 650 acres of land in Windsor, CT. Griffin Land previously held a 30% interest in the 5 and 7 Waterside Crossing buildings. The firm says it has also entered into a commitment with a bank for a permanent mortgage on the buildings. The mortgage is expected to close later this month. However, the company refused to divulge the purchase price for the remaining interests in the two properties.

Anthony Galici, chief financial officer of Griffin Land & Nurseries, says that the two buildings are approximately 95% occupied. Major tenants in the buildings include TRC Environmental, which leases 40,000 sf of space; The Hartford, which has approximately 35,000 sf of space and Rattel Medical Corp., which has a presence in both buildings. The firm leases approximately 45,000 sf of space.

Griffin Land helped master plan the Griffin Center office park, which currently consists of approximately 1.5 million sf of existing space.