Grunberg Acquires Hartford Office Complex for $65M

HARTFORD, CT-Grunberg Realty of New York City has purchased the 672,000-sf 280 Trumbull St. office building here from the New Boston Fund for $65 million. The deal for the 29-story office building in the Downtown area is valued at $97 per sf, according to CB Richard Ellis NE Partners LP.

John McCormick, Pat Mulready and Jeffrey R. Dunne of CBRE served as exclusive investment advisors to New Boston Fund. Jay Wamester and Nick Morizio of locally based Colliers Dow & Condon represented Grunberg Realty.

The property is home to Prudential Financial, which leases 333,000 sf at the building, the law firm Robinson & Cole, which leases approximately 135,000 sf, as well as UPS Capital and the US National Labor Relations Board. Cigna occupies approximately 100,000 sf in a sublease with Prudential Financial, CBRE officials say. The building is located across the street from the Hartford Hilton Hotel and the future Hartford 21, a 265-unit luxury residential development.