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West Hartford Bank Branch Sells for $7.8M

December 28, 2020 | Reprints | Unlock Link | Print

Image courtesy of Google Maps

A bank branch building in West Hartford has sold for $7.8 million.

An affiliate of a Massachusetts-based real estate firm, The Grossman Cos., bought the property from an affiliate of New Hampshire-based Net Lease Capital Advisors, a real estate investment firm, according to public records. Those records show Net Lease acquired the land in July 2000 for $4.9 million.

The property was most recently assessed at $5.34 million. The 56,628-square-foot lot at 1006 Farmington Ave. hosts a 2-story, 26,382-square-foot bank branch building with a drive-through, all built in 1957. The current tenant is Santander Bank.

The building sits on the edge of West Hartford’s bustling business district.

Grossman invests in a wide range of real estate, according to its website, from industrial and retail to office and residential properties, typically in the middle-market size range. The company also frequently partners with third-party operators and investors.