Hartford Business Journal

HARTFORDBUSINESS.COM | APRIL 7, 2025 9 DE AL WATCH | BUYERS & SELLERS 860.482.7613 | www.borghesibuilding.com 2155 East Main Street, Torrington, Connecticut 06790 Check out our new website! Building Ideas That Work... Building Ideas That Work... Does your business space need an interior makeover? When quality finishes and an attractive, functional interior are required, Borghesi Building & Engineering Co., Inc.'s fine craftsmen deliver the ultimate details. © 2011 BlueScope Buildings North America, Inc. All rights reserved. Butler Manufacturing ™ is a division of BlueScope Buildings North America, Inc. WINAIR COUNTER WEIGHT BREWING YELLOW KING BREWS Two downtown Hartford restaurants, one property in Front Street district listed for sale T wo restaurants in downtown Hartford's Front Street Enter- tainment District, a key area that has struggled to regain its footing coming out of the pandemic, are for sale. The Arch Street Tavern, which opened in 1978 and has been a favorite haunt of politicians over the years, has been listed for $1.1 million. Both the business and its property, at 83-85 Arch St., are on the market, according to the listing. The 4,209-square-foot property is owned by Collins Brothers LLC of Hartford. The owner, Jerry Collins, has operated the restaurant since its inception. A newly opened Peruvian restaurant, The Triple Three, located in the adjoining building at 89 Arch St., is also for sale. The business, which opened last year, is priced at $185,000. The Capital Regional Development Authority owns 89 Arch St., and the building itself is not for sale. CRDA bought the property for $650,000 in 2023. It previously housed Blind Pig Pizza Co. An inside look of the Arch Street Tavern, at 83-85 Arch St., in Hartford. PHOTO | COSTAR WINDSOR Developer PNK Group has acquired a 22-acre lot in Windsor, with plans to build a 218,000-square-foot industrial building on-site. The land at 36 Hazelwood Road, adjacent to Bradley International Airport, sold recently for $5.8 million, according to town records. New York-based PNK said the acquisition is part of its strategy to establish a foothold on the East Coast. Over the past half-year, the company says it has increased its presence in Connecticut, Pennsylvania, New Jersey and Virginia, acquiring nearly 400 acres on which it plans to build several million square feet of industrial buildings. The company does both speculative and build-to-suit development. PNK says the Windsor site, within 5 miles of I-91, could be adaptable for either manufacturing or distri- bution tenants. The site already has approvals for the planned warehouse. EAST HARTFORD A 121-room hotel in East Hartford has sold for $15 million to a South Dakota-based hotel operator. Merchant Founders Lodging LLC in early March sold the 71,925-square-foot, five-story hotel, at 351 Pitkin St., to two limited liability companies tied to South Dakota-based SBM Hospitality, which operates 10 hotels nation- wide, according to its website. The stucco and masonry-sided East Hart- ford hotel was completed in 2009, and hosts a Hampton Inn & Suites. The seller was First Merchants Group, a real estate company that was once heavily invested in East Hartford but has been recently selling off its holdings in town. The buyers were East Hartford Lodging Partners LLC, with a 79% stake, and SITA Inc., owning 21%. The two companies are based in Sioux Falls, South Dakota. According to a mortgage securing a $16.4 million loan for the East Hartford hotel prop- erty, Shailesh Patel is the manager of both buying entities. Patel is also president and CEO of SBM Hospitality. HARTFORD Shelbourne Global Solutions, a major investor in Hartford real estate, has put a roughly 40,000-square-foot office building near the city center up for auction. The 38-year-old, three-story office building, at 330 Main St., will go to auction through online real estate marketplace Ten-X from May 5 through May 7, with bids starting at $500,000. Shelbourne paid $3.1 million for the prop- erty in late 2019, at a time the Brooklyn, New York-based real estate investment company was rapidly growing its portfolio. Since then, Shelbourne's downtown Hartford office assets have been hard-hit by a trend toward remote work and smaller office leases following the COVID-19 pandemic. Lenders are pushing to foreclose on Shelbourne's 23-story "Stilts Building" office tower at 20 Church St., and its 12-story Metro Center office tower at 350 Church St.

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