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EAST HARTFORD, CT-The 102,077 sf Founders Business Park, a four-building portfolio of flex-type buildings, was sold to Baker Properties for $7.3 million. Lend Lease Real Estate Investments was the seller and Baker Properties was the buyer. CB Richard Ellis Tri-State Investment Team represented both.

Jeff Dunne, Bob Daglio and Bill Bronson of CBRE’s Hartford office led the representation team. Each building in the park is leased to a single tenant. They are Otis Elevator, GSA, RM Services and East Hartford Dialysis Center.

“This deal provides a stable cash flow from a quality tenant roster,” comments Dunne. “The Founders Park area is one of the preferred submarkets of suburban Hartford.”

The Tri-State Investment Team, including partners Chris McManus and Jim Tully, has recently closed on 1405 and 1425 Route 206 in Bedminster, NJ for $53.3 million; Garden City Plaza in the Town of Hempstead on Long Island for $43.5 million; Reservoir Corporate Center in Shelton, CT for $22.4 million; 104 Corporate Dr. in White Plains for $11.2 million; the former Macy’s in Downtown White Plains for $17 million; and the Koeger Center in Tampa, FL for $28 million.

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