Morgan Stanley Moving from One Hartford Tower to Another
The company has signed a lease for 15,171 square feet and will relocate its Hartford offices to the nearby 30-story Goodwin Square Building at 225 Asylum St. in January 2020.
HARTFORD, CT—Financial services firm Morgan Stanley is shifting its Hartford, CT branch operations from one Downtown office tower to one another. The firm will be shifting operations from CityPlace 1 to the Goodwin Square Building.
Morgan Stanley is currently operating on the 21st floor at the 38-story CityPlace 1 office tower at 185 Asylum St. The company has signed a lease for 15,171 square feet and will relocate its Hartford offices to the nearby 30-story Goodwin Square Building at 225 Asylum St. in January 2020.
Commercial brokerage firm Cushman & Wakefield reported the lease deal. C&W represented the owner, Goodwin Square Building, LLC, which is a partnership controlled by Westport Capital Partners of Wilton, CT, along with joint venture partners Brian Kohn and Steve Kohn. The Westport Capital -Kohn partnership acquired Goodwin Square office building and the adjoining Goodwin Square Hotel in 2015 in an auction sale.
Jon Putnam, executive director at Cushman & Wakefield, says the Morgan Stanley transaction follows more than 64,000 square feet of space leased at the Goodwin Square Building in 2018. The lease deals reached last year included three new tenants that all entered the Hartford market— Infosys, Anderson Tax and Strategic Spaces.
“We are very pleased to add Morgan Stanley as a tenant at Goodwin Square. The property is quickly becoming the destination of choice for Hartford area businesses and is contributing to a revitalized downtown that greatly benefits the city,” says Jordan Socaransky, principal at Westport Capital Partners.
“The recent refurbishments and upgrades at Goodwin Square maximize the overall tenant experience to provide everything a tenant wants and needs in today’s market,” says Brian Kohn.
Recent upgrades to the building include an extensive modern atrium, new concierge station, glass building entrance, new common area lobbies/corridors/restrooms, complimentary a fitness and conference center, LED lighting upgrades and digital HVAC control upgrades throughout the property.
The capital investments at the property have increased occupancy from 27% to 89%, according to Steve Kohn.