A partnership controlled by Capstone Properties has closed on the purchase of Somerset Square’s flagship office property in Glastonbury, Connecticut, for $23.6 million. Located at 95 Glastonbury Boulevard, the property is a four-story, 147,935 sqf Class A office that traded for just under $160 per sqf. The property is one of six Class A office buildings situated within Glastonbury’s Somerset Square. At the time of sale the building was 100 percent leased with major tenants including United Bank, SAS Institute, USI Consulting, Liberty Mutual, Infosys, American Nuclear Insurers and Hanover Insurance. CBRE/NE Hartford team of John McCormick and Patrick Mulready represented the seller, The Silverman Group.
“All of our current real estate investments are located in the central Connecticut marketplace, of which Glastonbury is a very vibrant, active and progressive business community,” stated Brad Baran, Capstone Properties. “By adding 95 Glastonbury Boulevard to our portfolio, we feel we can offer additional resources and services to our current tenant base as well as now be able to meet all of their current and/or future space requirements as they grow their respective businesses.”
