The tallest building in Connecticut — and the only office tower in Hartford greater than 30 floors — is on the selling block. CityPlace LLC, the investment group that owns UnitedHealthcare Center, an 884,669 sq. ft., 39-story tower in downtown Hartford, has hired Jones Lang LaSalle to sell the Class-A building.
Formerly known as CityPlace, UnitedHealthcare Center is located at the corner of Asylum and Trumbull streets. The building is 98% occupied and leased.
Completed in 1983, the tower was designed by Skidmore, Owings & Merrill, built by Urban Investment and, and has undergone significant renovations during the past five years.
“The UnitedHealthcare Center’s anchor tenant, the UnitedHealth Group, has a long-term lease at the property, and along with several other investment-grade credit tenants such as Morgan Stanley Smith Barney and Willis, lease over 65% of the building,” says Michael Smith, managing director at Jones Lang LaSalle.
“That, coupled with its excellent location, high-quality
UnitedHealthcare Center isn’t the only office tower in downtown Hartford to hit the market this year. In April, the 12-story Metro Center One also went on the selling block. Northland Investment Corp. was the owner of Metro Center before it lost the property due to foreclosure.