Hartford Business Journal

HARTFORDBUSINESS.COM | MAY 13, 2024 11 DEAL WATCH a quasi-public state agency that provides hospitals, universities and other nonprofits access to tax-ex- empt financing; CHEFA signed an 11,000-square-foot lease and is moving from 10 Columbus Blvd. (also known as the Candy Cane building), located on the outskirts of downtown Hartford. Filler said tenants were attracted to the Gold Building because it offers Class A amenities — like a newly updated lobby and cafe, outdoor seating/collaborative work space, dry-cleaning pickup and delivery and an attached parking garage — and is located in an urban environment within walking distance of restaurants and other merchants. Many of the new tenants also had connections to building owner LAZ Investments, which is the invest- ment arm of national parking oper- ator LAZ Parking. LAZ, headed by well-known busi- nessman Alan Lazowski, in 2019 teamed up with downtown Hartford's largest office landlord, Shelbourne Global Solutions, to purchase the Gold Building for $70.5 million. Since then, LAZ Parking has moved its Hartford headquarters to the Gold Building. Other prominent tenants include Global Atlantic, KPMG, Virtus Investment Partners, Conning and Sun Life. Despite the Gold Building's recent gains, office leasing activity in down- town Hartford remains challenging, Filler said. "Unfortunately, people have not returned back to work as fast as we thought they would," he said. While companies have imple- mented mandatory in-office days, many aren't enforcing the policy, Filler said. Hybrid and remote work options remain popular, and likely will be part of the mix for the foreseeable future. That's allowed companies to shrink their office footprints as leases come up for renewal, he said, increasing vacancy rates. New space for new era Meantime, Fuss & O'Neill's move to Hartford comes as the firm is undergoing other significant changes. As part of its 100th-year anniver- sary, the firm has launched a new rebranding campaign and logo. It also recently took on an investment from the Trilon Group, which is a family of infrastructure consulting businesses. The Trilon Group, backed by San Francisco-based private equity firm Alpine Investors, was formed in 2022 with the goal of creating a top 20 design firm in North America. It has since established partnerships with about a dozen water, transportation and other consulting firms. Terms of Trilon Group's deal with Fuss & O'Neill weren't disclosed, but Grigg said the partnership will help accelerate his firm's growth. He declined to disclose annual revenues or how much the firm is investing in its new space, but noted that the move to Hartford and modern office design are reflective of Fuss & O'Neill's history and future. Hartford-based architecture firm Tecton Architects is designing the office space, which will feature a 360-degree view of Hartford, natural daylight, glass-walled offices along the building core and low-partitioned workstations along the exterior glass. "The new design promises to be instrumental in fostering collabo- ration, a vital component currently lacking in our present office," the firm said, and "finishes have been care- fully selected to honor and reflect the natural environment that is very much the focus of our work." SINGLE SOURCE DESIGN/BUILD EFFICIENT. QUALITY. COST-EFFECIVE. The company that builds and installs the critical systems in virtually every type of facility is the same company you can rely on to maintain them. For over 50 years, our clients have trusted us to provide sustainable, more efficient, greener facilities. Experts in: Design/Build, Pre-Construction, Service, LEED Capabilities 860.871.1111 Toll Free: 800.741.6367 nemsi.com MECHANICAL | ELECTRICAL | PLUMBING | SHEET METAL | BUILDING AUTOMATION | FACILITIES SERVICES License #'s: E1-0125666 S1-302974 P1-203519 F1-10498 SM1-192 MC-1134 Fuss & O'Neill's 100-year history Civil and environmental engineering firm Fuss & O'Neill's roots trace back to 1924, when Hayden Griswold launched a part-time surveying business from his home. By 1954, the business had evolved into a father-son venture and estab- lished its first office on Main Street in Manchester. In 1977, with the retirement of the original owners, the company was renamed Fuss & O'Neill, under the leadership of Bill O'Neill and Walter Fuss. Over the decades, the company expanded its reach, opening offices in Massachusetts in 1993, Rhode Island in 1997, and additional offices in Connecticut, including New Haven. Subsequent expansions led to offices in Boston and Quincy, Mass., and the acquisition of a transportation firm in 2017 gave Fuss & O'Neill a presence in New Hampshire, Vermont and Maine. The firm opened a New York office in 2023. — Hanna Snyder Gambini

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