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WINDSOR, CT—Holliday Fenoglio Fowler LP reports it has brokered the sale of the Addison Corporate Center here. The 632,107-sf office complex at 175 Addison Rd. has been sold by Windsor Property Holdings LLC to Cabot Investment Properties LLC of Boston for $64.39 million.

The Hartford and Boston offices of Holliday Fenoglio Fowler, specifically Managing Director Tim Breda and Senior Managing Director Riaz Cassum, represented the seller and procured the buyer in the transaction. Windsor Property Holdings is an entity of AFI Inc. and ESCO Realty. AFI provides professional services related to the development and management of commercial real estate primarily for affiliated accounts. ESCO Realty is a privately held real estate investment firm.

HFF officials note that Addison Corporate Center was originally built in 1975 by Aetna as its data center and has undergone extensive renovations over the last five years, including fully renovated common areas and cafeteria improvements, a new common multimedia conference room and an on-site health club.

The building also has extensive backup UPS systems and a redundant power source grid, they add. The one- and four-story buildings are 95% leased to such tenants as: Bank of America, Genworth Financial, the Hartford Insurance Group, RR Donnelly and Aetna.

“Addison Corporate Center is a great investment for Cabot due to its plethora of amenities and building systems and excellent location between Bradley International Airport and Hartford, in addition to Hartford providing a strong rental value,” said Breda. “Windsor Property Holdings did a tremendous job of marketing the property’s strengths to attract such a high quality rent roll, which confirms the property’s leadership position in the market.”

He adds that during negotiations for the sale of the property, the Hartford Insurance Group concluded lease negotiations that doubled its presence at the property from approximately 70,000 sf to 140,000 sf.

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