Hartford Business Journal

8 HARTFORDBUSINESS.COM | OCTOBER 28, 2024 DEAL WATCH DEAL WATCH | BUYERS & SELLERS Landlord Harry Tawil inside the 'The Atrium at Gillette Ridge' office building in Bloomfield. HBJ PHOTO | MICHAEL PUFFER Three years after $10.4M sale, 682,000-sq-ft former Cigna HQ in Bloomfield on the market again By Michael Puffer mpuffer@hartfordbusiness.com A little less than three years after New York investors paid $10.45 million for Cigna's former global headquarters in Bloom- field, the new owners are considering offers for the massive complex. Harry Tawil, a principal of the limited liability company that bought the property in 2021, said he recently received an unsolicited offer for the complex, and put it on the market in order to consider all possibilities. Tawil said he and his business partner, Jeffrey Chera, are also open to selling off ancillary industrial and flex portions of the property, or keeping all of it. "We got an offer unsolicited, and now we want to go through and consider all potential opportunities," Tawil said. "We are still aggressively looking to lease and upgrade the space. It's not a cut-and-run situation. We are still very much involved." The roughly 682,000-square-foot office complex at 1300 Hall Blvd. was completed for around $130 million in 1983. At the time, suburban office palaces were in vogue and thou- sands of Cigna staffers traveled to the massive building each weekday. Cigna sold the property to MetLife MANCHESTER A nearly 30,000-square-foot Manchester office building, which until recently served as the head- quarters for engineering firm Fuss & O'Neill, has hit the market. Goman + York Property Advisors is advertising the 1910-vintage, two-story building on 2.37 acres at 146 Hartford Road for sale or lease. Thomas York, a principal of the firm, said the flexible building in the Cheney Brothers Mill district offers many user options. It could house a school, restaurant, function hall or be converted into apartments, he said. Fuss & O'Neill recently relocated to downtown Hartford's Gold Building office tower at One Financial Plaza. The Manchester property's current owner is Brooklyn-based real estate investor Yisroel Rabinowitz. The prop- erty last sold for $2.3 million in 2019. EAST HAVEN A Massachusetts-based moving and storage company has purchased an East Haven industrial building that will serve as its first brick-and-mortar location in Connecticut. Mass Bay Movers bought the 18,700-square-foot industrial warehouse, at 218 Foxon Road, in mid-September from ECBCT LLC and SDCT LLC, of New Jersey, for $2.05 million. Mass Bay Movers has two locations in Massachusetts and is expanding into Connecticut, according to broker Vinny Valentino, of Advise Realty Services, who repre- sented the seller in the deal. Mass Bay Movers provides short- and long-distance moves for residen- tial, collegiate and corporate clients, as well as storage, logistics and warehousing services. NORTH HAVEN A remediation and damage resto- ration company has purchased a 28,160-square-foot North Haven commercial property to relocate its expanding business. Ercolano Cleaning and Restoration bought the property, at 3 Powdered Metals Road, for $3 million from New York-based Chedvah Enterprises Inc. and 800 OP Residence LLC, according to town land records. Ercolano Cleaning conducts cleanup and restoration projects from fire, smoke, water, mold and other damage. The family-owned company, which has been in business for more than 40 years, is relocating from New Haven and will have more space in its new location for employees, equip- ment and trucks, according to broker Vinny Ferrucci, of Southington-based Advise Realty Services, who repre- sented the buyer in the Sept. 30 deal. The sellers were represented by Jeff Dow, of Dow Della Valle Realty. HAMDEN A heating-parts manufacturer has purchased a Hamden indus- trial building where it will move its operations. J.F.D. Tube and Coil Products Inc. this month bought the property, at 5 Hamden Park Drive, for $800,000 from Jomar LLC. The 11,350-square-foot building sits on 1.15 acres in the Hamden Business Park, between Interstate 91 and Route 15. It was built in 1986 and occupied only by the sellers. J.F.D. was established in 1983, making tube bundles, heat exchangers, coils and other heat- transfer equipment, according to its website. Stephen Press, of Press/Cuozzo, represented the seller and buyer in the deal. J.F.D. will occupy the building after significant modifications, Press said. GLASTONBURY Developer Morello Realty has detailed a plan for a new 42-unit multifamily development in Glaston- bury that will include 15 units of affordable housing. The plan was criticized by several residents during a recent public hearing before the town's Plan and Zoning Commission, while some spoke in support. The 3.5-story building is planned for a lot at 36 Hopewell Road, in south Glastonbury, which is already home to a six-unit multifamily building. Glastonbury currently has 5.23% of its housing stock that is consid- ered affordable, below the 10% trigger that provides an easing of zoning restrictions for developers who come forward with affordable housing plans. Morello says its architectural plans are still in development, and it is inviting comment from the town on the final appearance of the building. for $50 million in 2007, consolidating into a neighboring office building. By the time 1300 Hall Blvd. sold again in 2021, it was partially leased to several companies with a combined workforce of about 1,000 employees, although only around 200 would work in the building on any given day due to COVID-inspired work-from-home trends. Shortly after the purchase, Tawil and Chera began a hefty program of repairs and upgrades at "The Atrium at Gillette Ridge," focusing on adding amenities including a golf simulator, games room, outdoor fire pits, fitness center and more. The idea was to create a desirable workspace that would help tenant companies lure employees back to the office. More than $5 million was spent on renova- tions and upgrades, Tawil said. The Atrium campus includes a roughly 540,000-square-foot office building, 101,652-square-foot ware- house and 40,688 square feet of flex space. The main building features a four-story atrium with a glass roof and landscaped waterfall. The building is being listed by Philadelphia-based broker Binswanger. The complex is 58% leased, according to an online listing, which also notes the owners are open to selling the industrial components separately. Some of the office building's larger tenants include MetLife, Permas- teelisa, the Capitol Region Education Council's Montessori Training Center, Hooker & Holcombe, Vixxo and Trinity Health. Cushman & Wakefield Executive Director Joel Grieco, in charge of marketing leasable space in The Atrium, said the "attractive" prop- erty is performing despite ongoing post-pandemic trends that have depressed office demand broadly. "We've got a building that is exactly what most of corporate America is looking for these days," Grieco said. "They've all downsized, but when they move, they all want to find a certain vibe that will help attract their employees back to the office."

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