MIDDLETOWN, CT. (March 28, 2023) – Goman+York Property Advisors teamed up with Ten-X, commercial real estate exchange, to facilitate the sale of two Class-A professional office buildings located at 101 and 311 CenterPoint Drive, Middletown, CT for $2.629 and $4.55 million respectively.
101 CenterPoint Drive is a 34,530 SF, two-story, building sitting on 2 acres. This meticulously maintained property was built in 1984 for Aetna Insurance as a flex office property and was converted to a high-end Class A office property in 2003. Over the course of the last twenty years, the building has consistently been at or close to full occupancy. Today, it is fully leased to 15 different tenants, ranging from engineering firms to mental health services.
Built in 2011, 311 CenterPoint is a high-quality, two story, 13,470 SF building also sitting on 2 acres with direct visibility from I-91. The building was constructed and awarded the highly desirable LEED Silver certification. This certification is administered to buildings that minimize environmental impacts and offer significant long term operating cost savings. Today, this one-of-king flagship building is fully leased to a prominent law firm, a federal government supply contractor, and a health services company.
Tapping into a trend that began before, but has been accelerated by, the corona virus pandemic, both properties have been highly successful accommodating the ever-increasing market demand for smaller, high-end, fully furnished spaces built-out to for tenants seeking the flexibility of shorter-term leases with minimum upfront costs and access to conferencing spaces.
“These highly visible and best in class office properties are strategically located in the heat of Middletown’s business corridor.” – Said Tom York, Principal of Goman+York Property Advisors. “With their modern finishes and amenities, both properties have historically demonstrated high demand and occupancy levels, which made for an attractive investment for potential buyers.”
Principal Tom York of Goman + York Property Advisors, in collaboration with Ten-X, represented the Seller, Tall Properties LLC, and CenterPoint Management Co. LLC, and procured the buyer CenterPoint Holdings, LLC”.
Ten-X is the world’s largest online commercial real estate exchange. The platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decreased time to close.
GOMAN+YORK Property Advisors LLC works at the leading edge of real estate and economic development. Our team of experienced, proven industry experts, led by principals R. Michael Goman and Tom York, formulates real-world market-driven solutions for public, nonprofit, and private organizations. GOMAN+YORK delivers expert advice and high-value services to provide customized and cost-effective solutions in the delivery of real property engagements. New England-based in East Hartford, CT, with regional offices in the Southeast; Dallas, TX; and Phoenix, AZ, GOMAN+YORK’s reach is nationwide. Visit: www.gomanyork.com