HARTFORD, CONN. — CityPlace LLC has sold the 884,669-square-foot UnitedHealthcare Center in downtown Hartford at the intersection of Asylum and Trumbull streets for $99 million, or approximately $112 per square foot.
The 39-story office tower, which is formerly known as CityPlace I, is the tallest building in the state of Connecticut.
“The sale of UnitedHealthcare Center marks the largest in Hartford in more than 2 years,” said Michael Smith, managing director of Jones Lang LaSalle’s Boston office, in a prepared statement.
“The high-quality, investment grade tenants, including anchor tenant UnitedHealth Group, along with its excellent location, high-quality construction and consistently high historical occupancy made this property extremely compelling and we received numerous offers for the property,” Smith said.
According to the Hartford Courant, Smith, along with Scott Jamieson of Jones Lang LaSalle’s Boston office and Chris Ostop of the firm’s Hartford office, represented the seller in the transaction and procured the buyer, Newton, Massachusetts-based CommonWealth REIT.
Skidmore, Owings & Merrill designed the Class A property, which was built by Urban Investment and Development. The tower has undergone significant renovations during the past 5 years.
UnitedHealthcare Center is currently 98 percent leased to a variety of tenants, which include Bank of America, Deloitte, McCarter & English and PricewaterhouseCoopers.
— Savannah Duncan