Tallest Building In State Sold For $99-million
HARTFORD, Conn. (AP) _ A 38-story office tower in Hartford that is Connecticut’s tallest building has been sold for $99 million.
An executive at real estate services firm Jones Lang LaSalle told The Hartford Courant that the sale of CityPlace I in Hartford closed Friday in the downtown area’s biggest deal since 2007. The newspaper reports the buyer is CommonWealth REIT, a real estate investment trust based in Newton, Mass.
The 885,000-square-foot building was sold by CityPlace LLC, which had owned the tower since its construction in 1983. The sales price equals about $112 a square foot, just under the $119 a square foot that State House Square was sold for five years ago.
CommonWealth REIT nearly doubled its holdings in Connecticut with the purchase.