New Boston Fund Sells Eight-Building, 620,000 SF Conn. Portfolio
New Boston Fund, Inc. has sold its Rocky Hill office portfolio, an eight-building, 620,000-square-foot portfolio in Central Connecticut, to KS Partners.
Located in Rocky Hill, Conn., this portfolio sale is the largest Central Connecticut suburban portfolio sale since this portfolio first traded in 2000. Financials were not disclosed.
New Boston was represented by John McCormick, Patrick Mulready and Michael Puzzo of the Hartford Office Leasing and Investment Properties Team at CBRE/NE, as well as Jeffrey Dunne of the New York Capital Market Team.
The Rocky Hill portfolio consists of two office complexes: Corporate Ridge and I-91 Tech Center on Brook Street.
Corporate Ridge is comprised of three Class-A office buildings, 500 Enterprise, 55 Capital Boulevard and 175 Capital Boulevard, totaling 507,000 square feet. The five remaining single-story buildings at I-91 Tech Center total 113,000 square feet and consist of office and flex space.
The portfolio was 87 percent leased at the time of sale.
The portfolio also boasts a tenant roster that includes Nationwide Insurance, AT&T, United Healthcare, MetLife, The American Cancer Society, Liberty Mutual, Verizon, Zurich Insurance, URS Corporation, Value Options, AECOM, CCMC, AspenRe and AmTrust.
Additional amenities at the Corporate Ridge office park include access to a corporate cafeteria and fitness center at 500 Enterprise Drive, as well as a full-service Marriott Hotel, generous 4/1,000 on-site parking and immediate access to I-91 via Exit 23.
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