John McCormick and Patrick Mulready of CB Richard Ellis NE Partners were the exclusive investment advisors for Koffler. The six-story building is currently 85% occupied. Major tenants include Oakleaf Waste Management, which has a 33,000-sf office; GAB Robins, an insurance underwriter, which leases 15,700 sf as does RR Donnelly. Leasing 10,000 sf each at the complex are Haley & Aldrich, a national environmental firm, and Electronic Data Systems.
The East Hartford property, located on the Connecticut River shoreline across from Downtown Hartford, was built in 1985 and has had a history of high occupancy, CBRE officials say. The sale took approximately six months from listing to closing, Mulready says.
The Koffler Group, a real estate owner and developer, maintains assets throughout New England valued in excess of $150 million. Since 1998, the firm has sold its three office properties in the Greater Hartford area.
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