August 7, 2017
Deal Watch

Downtown Hartford's Congress St. Apts. bring $3.2M

PHOTO | Contributed
PHOTO | Contributed
(Left) Congress Street Apartments, Hartford. (Right, above) 1 Targeting Centre, Windsor. (Right, below) 45 Pratt St., Hartford.

The 65-unit Congress Street Apartments, a cluster of multi-family units on downtown Hartford's edge, sold recently for $3.2 million, brokers say.

Rebrick Partners, of Washington, D.C., sold the 11 historic multifamily townhouses with parking fronting Congress, Morris and Alden streets, in the shadow of Hartford Hospital and Connecticut Children's Medical Center campuses.

The buyer was Aria Legacy Group, based in New Jersey.

The per-unit price of $50,000 reflects the rising demand and rents for housing in downtown Hartford, according to seller's broker Northeast Private Client Group.

Unionville sublet available

A 2,675-square-foot medical-office suite above a McDonald's fast-food restaurant in Farmington is available for a 2 1/2-year sublease.

The second-floor space at 1823 Farmington Ave. in the Unionville section can be sublet at $19 a square foot, plus utilities, through Dec. 2020, according to lease broker Reno Properties Group LLC.

The office layout includes a waiting room; secretary station; three offices; five exam rooms; kitchenette; two bathrooms; and ample parking.

Ex-ADVO home for sublet

An entire, fully furnished Windsor office building, once home to former direct-mail marketer ADVO Inc., is available for sublease, brokers say.

Valassis has occupied the four-story, 97,256-square-foot building, known as 1 Targeting Centre, since its $1.2 billion buyout in 2007 of ADVO, a long-time tenant in the building off I-91, according to Sentry Commercial. Sentry is co-marketing the building with New York City commercial broker Newmark Knight Frank.

Valassis signed its lease in 2008 and it expires in Sept. 2023, Sentry said. Select Income REIT is landlord.

Ichiban Express in New Britain

British restaurant operator Ichiban Express will open later this year its first Connecticut restaurant in New Britain, brokers say.

Ichiban, of Nuneaton, Warwickshire, England, has leased and begun interior construction on 2,100 square feet in Dollar General Plaza, at 1450 East St., next door to Central Connecticut State University, said sole broker New England Retail Properties Inc. Ichiban specializes in sushi and other Japanese cuisine.

Other plaza tenants include Pizza Hut and Hot Harry's Fresh Burritos.

Sound Garrett New Britain LLC is landlord.

John Watts' Hartford relocation

Office-interior designer/furnishings vendor John Watts Associates is relocating later this summer to downtown Hartford, from east of the Connecticut River, brokers say.

John Watts leased the entire 6,000 square feet on the second floor of 45 Pratt St. for its showroom-offices.

It plans to move out of its present offices at 121 Roberts St., Suite A, in East Hartford, at the end of August, said tenant-broker Whit Osgood. CBRE-New England represented landlord Alkon Pratt Street LLC.

John Watts principal Jeff Watts said his firm is relocating to downtown Hartford to join a "dynamic work environment for employees and a central, convenient location'' to serve its Hartford area clients.

45 Pratt's ground-floor tenant, a satellite store-branch of fashion boutique Morneault's Stackpole Moore Tryon/Tuesday's, will stay in place, Osgood said.

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Gregory Seay is the Hartford Business Journal News Editor.

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