October 9, 2017
Deal Watch

N. Britain's Starling Physicians inks $16M office sale-leaseback

Photo | Contributed
Photo | Contributed
1 Lake St., New Britain.
Photo | Contributed
300 Kensington Ave., New Britain.
Gregory Seay

A pair of New Britain medical-office buildings totaling around 140,000 square feet recently underwent an approximately $16 million sale-leaseback transaction, brokers say.

New Britain's Starling Physicians sold its 1 Lake St. and 300 Kensington Ave. properties to Inland Real Estate Acquisitions Inc., of Oak Brook, Ill., and signed a 15-year lease on both, according to sole broker O,R&L Commercial LLC. Starling is a medical practice that occupies all the space in both buildings.

Starling was formed in the Jan. 2016 merger of former Grove Hill Medical Centers, founded in 1947, and Connecticut Multispecialty Group, created in 1996. Combined they have more than 250 care providers in 23 specialties throughout the Greater Hartford and New Britain markets.

Grove Hill built 300 Kensington more than 45 years ago. It houses specialists, including internal medicine, OB/GYN, pediatrics, pulmonary, gastroenterology, radiology and laboratory services.

1 Lake St. is a multi-building complex built a century ago by Stanley Works. Grove Hill acquired the building in the early '90s and converted it to medical offices. It houses, among others, an eye center, orthopedics, cardiology, surgery, dermatology and urology.

Inland Real Estate Acquisitions has vast experience in investments garnered through nearly 3,500 transactions across 49 states totaling more than $44 billion for member companies of The Inland Real Estate Group of Companies Inc.

C2 Education debuts in Glastonbury

Maryland's C2 Education has opened a Glastonbury facility, its eighth in Connecticut and first in the Hartford area.

The 2,000-square-foot office is in The Shoppes At Fox Run shopping center, 55 Welles St.

Brixmor Property Group is landlord.

E. Hartford's 'toy store' space

The 18,500-square-foot East Hartford commercial property formerly known as "the toy store" is on the market for lease or for sale at $790,000, brokers say.

The property at 19 Thomas St., is located just off Connecticut Boulevard and "Auto Row." It's also available for lease at $5.30 per square foot, according to listing broker Amodio & Co. Real Estate.

The property was known as the toy store because, brokers say, a former owner or tenant sold collector cars and other vehicles at the location.

Its air-conditioned interior is carved into three main sections.

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