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ENFIELD, CT-Massachusetts Mutual Life Insurance Co. has acquired the 100 Bright Meadow Blvd. office complex here from Phoenix Life Insurance Co. for approximately $27 million. The 435,000-sf facility currently houses operations of Phoenix Life. However, in February 2003 the company announced it planned to relocate employees at the complex to facilities in downtown Hartford. Under a lease agreement between Phoenix Life and Mass Mutual, Phoenix will begin vacating the Bright Meadow complex in the fall of this year and relocating their workers to its corporate headquarters building at One American Row in Hartford. MassMutual expects to complete the relocation of employees to the Enfield complex by June 2005.

The Bright Meadow Blvd. campus will replace MassMutual’s operation on Garden St. in Hartford. Company officials state that the insurer plans to sell that facility. Bill Farley and Tom York of CB Richard Ellis-NE Partners were the exclusive marketing advisors for Phoenix Life Insurance in the transaction. John Williamson of CB Richard Ellis represented Mass Mutual in the sales deal.

The 100 Bright Meadow Blvd. property is comprised of three interconnected buildings and a separate 6,200-sf freestanding building that is currently occupied by Bright Horizons, a day care center. The complex sits on a 66-acre parcel directly off I-91. The property has room for up to 2,400 workspaces and also includes fitness facilities, a cafeteria as well as parking.

MassMutual plans to utilize the property as an administrative and operational business complex. The company is headquartered in Springfield, Mass. Susan A. Alfero, executive vice president of Mass Mutual, says that the company is undertaking a review of its operations in Connecticut and Massachusetts to determine which functions and employees will be relocated to the Enfield site. Although it will be some time before MassMutual occupies the building, the company plans to post its corporate signage on and around the property in short order, company officials note.

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