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FARMINGTON, CT-Farmington Realty, LLC, a publicly traded real estate company, has acquired 175 Scott Swamp Rd. from Farmington Route 6 Land LLC for $25.4 million. The local developer built the site specifically for ConnectiCare, the third largest health plan in the state.

The 100,539-sf property is the home of ConnectiCare’s call center and information technology center operations. The HMO, which has its headquarters at 1 Farm Glen Blvd. in Farmington, occupies the entire Scott Swamp Road building where it employs approximately 300 workers. The firm employs 540 employees companywide.

Steve Witten, Victor Nolletti and Adam Mancinone of Marcus & Millichap’s New Haven office were the sole brokers in the transaction. The brokerage firm would not provide any further specifics on the buyer or the seller in the deal.

Commenting on the sale, Witten says that the buyer bested a number of other investors for the complex, which is located on Route 6 and nearby Interstate 84, just 10 minutes from the City of Hartford. “The deal certainly establishes a precedent setting value on a per square foot basis [in the Farmington market],” he says. However, he adds that the value of the deal was predicated by the strength of the ConnectiCare lease. The firm has 13 years remaining on its original lease at the property.

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