Fully Leased Office Building is Home to United Technologies Corporation
FARMINGTON, Conn., July 25, 2018 – Cushman & Wakefield has arranged the sale of 8 Farm Springs Road, a three-story office building totalling a 107,654 square feet in Farmington, Connecticut. Paradime Capital purchased the asset, which is fully net-leased to United Technologies Corporation from GTJ REIT.
Andrew Merin from the global commercial real estate services firm’s investment sales team in East Rutherford, N.J. led the assignment with David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt, and Ryan Larkin. They were assisted by Al Mirin, Matthew Torrance, and Kate Schwartz from the Connecticut investment sales team.
8 Farm Springs Road is situated within the Farm Springs office campus, a six-building corporate office park totalling 585,000 square feet located nine miles west of downtown Hartford. The park is fully occupied by United Technologies Corporation and its subsidiaries. UTC has its global headquarters at Farm Springs and owns 58% of the office park’s total square footage. The corporate park, which also hosts the 374-room Hartford Marriott – Farmington, is located directly off I-84 Exit 37, and provides quick access to Route 9, I-91, and Bradley International Airport.
“The Farm Springs campus’ desirability is evidenced by United Technologies’ significant investment, owning four buildings and leasing the remaining two. The Campus is home to UTC’s global headquarters and approximately 1,400 employees,” said Merin.
Separately, the Cushman & Wakefield team is offering a 100% leasehold interest in the Campus at Green Hill, a two-story LEED Certified corporate campus in Wallingford, Connecticut, with 288,795 rentable square feet. The Campus at Green Hill is located on approximately 104 acres on Connecticut’s I-91 corridor, just outside of busy New Haven. The property is currently 75% leased by three well-known tenants: Anthem Blue Cross and Blue Shield, Burns & McDonnell, and Liberty Mutual. The Campus at Green Hill is application-ready to build more than 440,000 square feet of additional office space, including 118,000 square feet with frontage on I-91.
Cushman & Wakefield’s suburban investment sales team specializes exclusively in office, industrial, multifamily, land and retail property trades throughout New Jersey, New York, and Fairfield County, Connecticut. The team has completed $28 billion worth of transactions since 2000, closing over $3.5 billion in sales during the past 18 months.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.