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Massmutual Sells Hartford Landmark
22 May, 2006, Boston, MACushman & Wakefield Handles Transaction
On behalf of Massachusetts Mutual Life Insurance Company, Cushman & Wakefield of Massachusetts, Inc. today announced the sale 140 Garden Street in Hartford for $7 million. Cushman & Wakefield’s Capital Markets Group of Robert E. Griffin, Christopher T. Griffin, and Richard E. Putprush and New York Executive Vice President Stuart I. Romanoff and Hartford Leasing Specialist Jonathan K. Putnam exclusively represented the seller and procured the buyer -- Hudson, MA-based Calare Properties and Los Angeles based Hackman Capital Partners -- in the transaction.
140 Garden Street was originally developed in 1925 as the headquarters for Connecticut Mutual Life Insurance and expanded and renovated in phases over time. Today, the facility comprises 471,486 rentable square feet on four above ground levels, a concourse level and a basement and sub-basement levels.
Designed and constructed to fulfill the various needs of a FORTUNE 100 company, 140 Garden Street features large, open office areas, stately executives offices and meeting rooms, an on-site cafeteria and kitchen, a security operation center, a fitness center, large classroom style meeting rooms and raised-floor computer areas. Structurally, the building offers the architectural details that are found so infrequently in today’s modern-day buildings from a two-story marble rotunda to large windows providing abundant natural light.
“140 Garden Street beautifully and efficiently served Mass Mutual’s needs over time, and simply put, they don’t build them like they use to,” said Rick Putprush, Senior Director at Cushman & Wakefield. “This four-story brick building enjoys the architectural features of oversized windows, an expansive rotunda and classic details throughout that just aren’t found in newer buildings today. The building also benefits from its cross-shaped design, providing ample natural light to the interior spaces.
140 Garden Street is zoned to allow office, hotel and multi-family development, providing endless possibilities for future use. Constructed to be the headquarters of Connecticut Mutual Life Insurance, one of Hartford’s original insurance titans, 140 Garden Street is a self-sufficient community containing its own central steam and chilled water plant and an existing full-service cafeteria. The site is well-positioned to be converted into a mixed-use business center, drawing on the area’s residential flavor, demand for retail space and overall accessibility.
Located only minutes to Union Station, Bushnell Park and the State Capitol, the site has convenient access to Interstates 84 and 91.
Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.
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