Image courtesy of CBRE
A large, undeveloped parcel in Farmington owned by the city of Hartford’s pension fund is coming up for sale or ground lease.
CBRE has been retained as the exclusive marketing advisor for about 86 acres of land at 8261 Fienemann Road. The Hartford office brokerage team of John McCormick, Patrick Mulready and Anna Kocsondy will be handling this assignment on behalf of the owner, the Municipal Employees’ Retirement Fund of the city of Hartford.
“We have partnered with the CBRE team to provide national exposure for this institutional-quality development opportunity,” Hartford City Treasurer Adam M. Cloud said in a statement. “CBRE’s expert team, local presence and broad market expertise will serve to highlight the potential of this regional asset and structure a transaction that will benefit our pension beneficiaries, the city of Hartford and the town of Farmington.”
One of the last developable sites in Farmington, the parcel is situated along Interstate 84 at Exit 37.
This area is known locally as the “Corporate Gold Coast,” according to CBRE, and is home to Stanley Black and Decker, United Technologies Corp., Otis, Carrier Corp., Hartford Healthcare, Centene Corp., Beazley Group and a full-service Marriott Hotel and Conference Center. One exit east sits the UConn Health Center, Jackson Labs, the University of Connecticut’s Cell and Genome Sciences building, eight new medical buildings totaling 400,000 square feet, and numerous credit medical and office tenants along the Farmington Avenue corridor.
Within a 5-mile radius of the site are top-grossing, upscale retail centers at the West Farms Mall, West Hartford Center and Blue Back Square, numerous recreational opportunities, public transportation and nationally renowned healthcare facilities. The available site offers approximately 10 to 15 developable acres and is included in the town of Farmington’s Bioscience Zone allowing for several expanded uses including class A corporate office, biotech facilities, research and development, hotel, hospitality and medical offices.
