Hartford, CONN. (May 9, 2016) – Goman+York Property Advisors has successfully negotiated the sale of 430 New Park Avenue located on the Hartford, West Hartford line for the Greater Hartford Association of REALTORS® (GHAR), the largest local real estate trade association in Connecticut. GHAR purchased the 2-story, 24,000 SF professional office/retail building for $1.15 Million for its headquarters. The building was built by Heublein in the late 1980s for a research and development office and then subsequently purchased by Ken Crowley for a Chevrolet dealership in the early 2000s. The building most recently served as the administrative headquarters for the CTfastrak, Connecticut’s first Bus Rapid Transit system.
GHAR is planning to relocate their offices from 433 South Main Street in West Hartford to 430 New Park Avenue later this year after completing major renovations to the property including the enhancement of the common areas and the installation of a new atrium wall in the lobby. GHAR’s space will include a large state-of-the-art training facility as well as space for GHAR administrative staff totaling approximately 6,000 SF on the 2nd floor. GHAR 2016 Board President, Joanne Breen, states, “The location has excellent highway access to I-84 and ample parking for members, future tenants, and their customers. This-up-and-coming area on the north side of the ‘home design district’ is a great fit for the Association and we are excited about the transition.”
GHAR is seeking tenants for the balance of the building which includes the former 12,000 SF Chevrolet showroom on the 1st floor which has high open ceilings and tile flooring throughout which could be used for retail or loft style office space. In addition, the property has a high parking ratio of 7 spaces per 1,000 SF of leased space. “With the exceptionally high parking ratio, the property can accommodate high density users which is a strong advantage for 430 New Park Avenue in the marketplace”, according to Tom York, GHAR’s Commercial Real Estate Advisor.
Tom York, principal of Goman+York Property Advisors represented the Buyer in this transaction and Andy Filler of Avison Young represented the Seller.
The Greater Hartford Association of REALTORS® (GHAR) is the largest local real estate trade association in Connecticut, serving over 4000 members in the 57 town Greater Hartford real estate brokerage community. The Association provides technology, training, networking and business support to members, and supports a healthy real estate market by upholding high professional and ethical standards through a Code of Ethics, ongoing education and certification programs. As the advocate for the real estate brokerage industry, GHAR is the Voice for Real Estate® in the Greater Hartford region. For more information, call 1.860.561.1800 or visit www.gharonline.com.
Goman+York Property Advisors, LLC, provides expert advice and high-value services to landlords and tenants, owners and investors in the commercial real-estate industry. The East Hartford, Conn,-based company delivers “real world,” customized real-estate solutions for all its clients. It consistently exceeds clients’ expectations.