NEW YORK--(BUSINESS WIRE)--Rockwood Real Estate Advisors, a full service real estate investment banking firm, announced the sale of Metro Center, a 293,639 square foot, Class A office building located in the CBD of Hartford, CT. The sale also included an adjoining 1,216 space parking deck. The building sold for $22,750,000 to The Fremont Group, a West Hartford based private real estate company.
Built in 1986 and renovated in 1999, Metro Center is one of a handful of office buildings in downtown Hartford that provides tenants with sweeping views of the metro area with a dedicated onsite 1,216 space parking garage for tenants. The building also contains a number of onsite amenities. With occupancy of just over 80.0 percent, there is an additional upside to be captured through the lease-up of the remaining vacant space situated on the top two floors.
Thomas Dobrowski, Managing Director for Rockwood Real Estate Advisors, arranged the sale and provided insight on the Hartford market: “Metro Center is one of the top office buildings in Hartford and, as such, is uniquely positioned to take advantage of the ongoing downtown resurgence that is underway.”
About Rockwood Real Estate Advisors
Rockwood Real Estate Advisors is a full-service real estate investment banking firm offering a broad range of financial advisory, transactional services and business solutions for clients in the commercial real estate industry. In 2012, the firm closed 399 deals totaling over $3.2 billion in debt, equity and sales transactions. Headquartered in New York, Rockwood has eight offices across the country. For additional information, please visit www.rockwoodrea.com.
