Daniel Katz, principal of Katz Properties, says the ownership will be looking into the future development opportunities at the property and is currently in the process of hiring an architect in connection with the venture. "With this purchase we have acquired a stable asset with significant potential for adding value through lease up and future development," he says.
Katz notes that his firm plans to look for other acquisition opportunities in the Hartford area.
Gothic Park is currently 88% leased to a mix of medical practices, lawyers and non-profit concerns. The largest tenant is New Haven-based nonprofit Casey Family Services, which occupies 17,000 sf.
Holliday Fenoglio Fowler LP, arranged financing for the acquisition. Windsor Management of Windsor will handle leasing and property management of Gothic Park, a Katz official says.
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