Holliday Fenoglio Fowler, L.P. (HFF) announces the $5.5 million sale of 440 New Britain Avenue, a 27,685-square-foot medical office building in the central Connecticut community of Plainville.
The HFF team marketed the property on behalf of the seller, Tomasso Brothers, Inc. and procured the buyer, Atkins Companies. The transaction follows Physician Realty Trust’s 2017 $30 million purchase of the adjacent Medical Arts Building, also handled by HFF.
440 New Britain Avenue is fully leased to a synergistic tenant roster, anchored by Hartford Healthcare (Moody’s A2) and the Central Connecticut Endoscopy’s surgery center. The single-story property is adjacent to the newly developed Hartford HealthCare Medical Arts Building and hospital-owned Cancer Center, which operates in joint venture with Memorial Sloan Kettering, the nation’s oldest private cancer center, attracting patients from around the country.
The HFF investment advisory team representing the seller consisted of senior director Ben Appel, managing director Evan Kovac, and directors Andrew Milne and Anthony Frogameni, and senior managing director James Koury.
“It’s the strength and quality of the Hartford Healthcare system and its leadership, coupled with the right ambulatory strategy that has so strongly reinforced its position in the central Connecticut market,” said Appel.
About Tomasso Group
The Tomasso Group is a multi-disciplined real estate development, construction management and property management firm doing business in central Connecticut since 1923. Tomasso provides a variety of services to its clients from leasing medical space, site selection, acquiring property, construction, build to suit/long-term lease to property and asset management. tomassogroup.com
About Atkins Companies
The Atkins Companies is a New Jersey-based real estate organization active in the development, investment and management of high-quality commercial and residential properties throughout New Jersey and beyond. Atkins specializes in owning and operating medical office buildings throughout the country and continues to look for acquisition opportunities.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
Contacts:
Ben Appel
HFF Senior Director
(412) 281-8714
bappel@hfflp.com
James Koury
Lic. #0755412
HFF Senior Managing Director
(617) 338-0990
jkoury@hfflp.com
Kristen Murphy
HFF Director, Public Relations
(617) 848-1572
krmurphy@hfflp.com
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