Hartford Business Journal

8 HARTFORDBUSINESS.COM | MARCH 23, 2026 Deal Watch An aerial photo of the 291,405-square-foot Campus at Greenhill office complex in Wallingford. Photo | CoStar Turnaround Effort Mass. real estate firm aims to revive struggling Wallingford office campus after $9.13M purchase we can, see what kind of things that we can look at with the way that the property is being run," Carrigan said. The building was originally designed for a single large tenant, which has created some challenges. The second floor, for example, is a wide-open space intended for a single user. KS is now working with architects to develop layouts that could accommodate multiple tenants. Carrigan said previous owners had interested tenants but lacked the capital to fund requested improve- ments. That won't be an issue for KS, she said. Carrigan added that the building could be successful at about 75% occupancy — a target she believes is within reach. "Our goal is a long-term success for it," Carrigan said. "And I feel very, very good about it." The property includes amenities such as an on-site cafeteria, gym, floor-to- ceiling windows and an open lobby. Carrigan said those features, along with the building's location along the Interstate 91 corridor between Hartford and New Haven, make it attractive to potential tenants. The acquisition was self-financed, though Carrigan indicated that future construction projects on the property could involve additional financing. KS owns four other office prop- erties in Connecticut, including a 61,348-square-foot building in Danbury and three buildings in Rocky Hill's Corporate Ridge office park ranging from 93,614 square feet to 310,582 square feet. Carrigan said the Rocky Hill prop- erties were not immune to the office market slump following the COVID-19 pandemic and are currently about 70% occupied. Untangled ownership The Campus at Greenhill building was originally envisioned as a headquarters for Mortgage Lenders Network. The subprime lender failed in 2007, however, bringing construc- tion to a halt about a year into the project and leaving little more than a shell completed. Since signing a 10-year, 217,764-square-foot lease in 2012, Anthem Blue Cross and Blue Shield has reduced its footprint at the Campus at Greenhill office complex. Photos | CoStar By Michael Puffer mpuffer@hartfordbusiness.com M assachusetts-based office landlord KS Partners is looking to turn around the nearly 300,000-square-foot Campus at Greenhill office building in Walling- ford following its recent $9.1 million purchase of the property. The building, at 110 Leigus Road, has faced repeated challenges since it was first developed nearly two decades ago. Most recently, occupancy has fallen to about 33% following the post-COVID shift toward remote work. Sources say previous landlords were unable to fund renova- tions needed to attract new tenants and strug- gled with upkeep. Jennifer Carrigan, KS Partners' vice president and director of leasing, said her company has the experience and financial backing needed to stabilize the building and attract tenants. The privately held real estate firm owns and manages more than 5 million square feet of commer- cial real estate across the Northeast. Carrigan said the company is also speaking with town officials about possible development on portions of the roughly 100-acre property where the office building sits. "I know that it has struggled over the past few years …," Carrigan said. "And so, I do think that the time was ripe for somebody with experience and the ability to perform well as a landlord to come in and stabilize the asset, hopefully bring it somewhere positive in the future." Jennifer Carrigan Turning a corner KS Partners finalized its purchase in late January, Carrigan said, and is now working to assess the building's systems and capital needs while ensuring continuity for existing tenants. "Our goal is to keep things running the way that they were, improve where

• Cover