Ken Morris purchased 24 Scitico Road, a 48,000 square foot industrial building in Somers, Connecticut for $1,077,000 or $22.43 / SF.

RM Bradley is pleased to announce that The Keystone Companies officially broke ground on Hopmeadow Street along Route 10 in Simsbury on Wednesday November 30, 2011 to begin construction on the new Dorset Crossing development site.  

The site will include approximately 50,000 square feet of new medical space in three buildings, two retail pad sites and residential units in the rear portion of the site.

• Canton road builder Midstate Site Development purchased 75 West Dudley Town Road in Bloomfield, a 9,050-square-foot industrial building in Bloomfield for $475,000 or $52.50 / SF.  RM Bradley represented the landlord on this sale.
   
• RBC Wealth Management renewed their 4,934 square foot lease at 200 Glastonbury Boulevard in Glastonbury. RM Bradley represented the landlord in this transaction.

Situation:  Connecticut Children’s Medical Center determined the need to establish a data center at an off-site location in order meet the anticipated growth of their technology needs.

Situation:  Mental Health Association of Connecticut is a non-profit group that helps CT residents with severe pervasive mental illness to receive residential, vocational, psychological and case management services.  Mental Health Associates had been occupying antiquated inefficient space in Wethersfield, CT and also had a small field office in West Hartford, CT.  Their goal was to save money and consolidate both offices into a single more efficient location, and they also had a strong desire to relocate to West Hartford Center, Hartford County’s most expensive office market.  

Situation:   Challenged with an outdated and inefficient building requiring a large infusion of capital from the Hospital to comply with current code, CT Children’s Medical Center decided to evaluate alternatives in the marketplace for its’ existing School. Having established the school in the southern area of Greater Hartford, they had a strong desire to stay within that area.  Due to the size, specific nature of the use, and large amount of capital needed to convert an existing building into a school, it was uncertain if they were going to be able to find the space to relocate.

Situation:     Conning & Company had approximately 4 years left on its original 10 year lease at One Financial Plaza.  Both the Tenant and Landlord had a significant investment in the build-out of the space.  Conning was happy in their space but was looking to lower the rising operating expenses and real estate tax escalations that had increased their overall occupancy costs.  The Landlord had recently renegotiated several leases in the building but still had a substantial lease rollover exposure in 2015.

 

Situation:   Due to continued growth, CT Children’s Medical Center (CCMC) needed to find space for a group relocating from the Hospital’s main campus.  Having established what has become a non medical “satellite campus” in East Hartford’s Founders Plaza, there was a strong desire to relocate there.  Due to a lack of space availability in Founders Plaza and the timing of the requirement, it was uncertain if the relocation would move forward.

Situation:  Robinson & Cole had approximately 6.5 years left on its original 15 year 143,344 square foot lease.  Rent was about to escalate significantly above market plus escalations.  In addition, the firm had a very onerous and expensive termination right to give back a floor.  The firm had a strong desire to save money immediately and have the opportunity to give back a floor but needed more time than their lease allowed to notify Landlord of this intent.