Hartford Business Journal

7 HARTFORDBUSINESS.COM | June 20, 2022 DEAL WATCH Harry Tawil, principal in The Atrium CT, in the newly tiled atrium of the former MetLife headquarters in Bloomfield. New owners of former Bloomfield MetLife HQ tout $2M in renovations, hold brokers showcase By Michael Puffer mpuffer@hartfordbusiness.com A few dozen Greater Hartford area real estate brokers gathered earlier this month in the expansive lobby of Bloomfield's Atrium at Gillette Ridge for a first look at renovations to, and available space in, the 548,301-square-foot office building. The enormous property – with a 40,000-square-foot, glassed- top atrium anchored by a waterfall fountain – was originally built in 1982 for about $130 million to serve health insurer Cigna. Cigna sold the building to MetLife for $50 million in 2007, then consolidated to another large building on its expansive campus. Real estate investors Harry Tawil and Jeffrey Chera represent their families as principals in The Atrium CT, a limited liability company that paid $10.4 million for the building late last year. Tawil said so far they've spent more than $2 million on renovations, most of which went to new porcelain tile flooring in the lobby and a conversion to LED lighting that is about 70% complete. The partners have also outfitted a games room, updated interior landscaping and refurbished outdoor recreation space, among other amenities. Tawil said the partners have lined up another $2 million for additional renovations as more tenants sign on. He said the building is about half occupied at present. Fresh look The Atrium property came with two attached properties, a 100,000-square-foot manufacturing/ warehouse building and a 41,000-square-foot "flex" building with high ceilings. Tawil said the partners recently put a new roof on the manufacturing building, which has seen a good deal of interest. "This event is to help show people the dollars we are putting into the property," Tawil said. "Hopefully, that will help stimulate some more activity. It's not the same old space. There are improvements. There are a lot of dollars going in and it's time to take a fresh look." Joel M. Grieco, executive director at real estate brokerage Cushman & Wakefield, is brokering the building. Grieco said showcasing events were once common but have become rare in recent years as fresh office product has not come onto the market. And they had virtually ceased since the onset of the COVID-19 pandemic. "Even pre-COVID, events like this became a rarity," Grieco said. "I went to one a year." Philip Gagnon, a principal with Colliers, said he had attended about a dozen building showcases in the past decade. The Atrium tour was his first since the onset of COVID. "I hadn't been here in many years," Gagnon said. "I was intrigued to see how the new ownership was investing in the property." HBJ PHOTO | MICHAEL PUFFER What's Sold Here's a list of recently sold commercial properties. Properties are listed in order of sales date. Property address City Sale price Property type Building sq. ft. Year built 91 North St Hebron $1,500,000 Retail 10,054 969 Hopmeadow St Simsbury $875,000 Hospitality 11,596 1939 172 Wonx Spring Rd Plantsville $795,500 Industrial 10,251 35 Wooster St New Britain $370,000 Retail 4,400 1930 30 Shield St West Hartford $1,215,000 Flex 16,001 1959 8 Metals Dr Plantsville $795,000 Flex 10,790 1970 67 Booth St New Britain $445,000 Multi-Family 4,224 1915 284 Tolland St East Hartford $210,000 Retail 7,040 1957 105 Baker Hollow Rd Windsor $1,650,000 Land 1510 John Fitch Blvd South Windsor $1,275,000 Industrial 30,000 1950 45 Russell Rd East Granby $737,500 Industrial 9,150 2010 85 Kitts Ln Newington $325,000 Retail 2,400 1957 38-40 Redding St Hartford $388,000 Multi-Family 8,211 1926 72 Marsh Rd Willington $2,130,000 Multi-Family 5,000 Source: Costar

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