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Hartford’s Metro Center Draws Flurry of Buyer Interest

By Kenneth R. Gosselin

November 28, 2012

Downtown Hartford’s Metro Center came on the market two weeks ago — and it has already drawn interest from dozens of potential buyers.

The New York real estate firm handling the sale told me today that 60 potential buyers have asked for more information. Bids for the 12-story, 294,000-square-foot tower on Church Street are due in mid-December, according to Rockwood Real Estate Advisors’ managing director Thomas Dobrowski.

Dobrowski said there is no firm asking price for property but the target is about $80 a square foot, or roughly $23 million.

Metro Center was built in 1986 and is currently 83 percent leased. Lincoln Financial, the anchor tenant, recently renewed its lease in the building.

A year ago, Metro Center had been on the market, but was pulled off as Lincoln considered whether it would renew its lease.

Northland Investment Corp. lost the tower, its first purchase in Hartford, to foreclosure in 2011.

Reprinted with permission of the Hartford Courant. To view other stories on this topic, search the Hartford Courant Archives at http://www.courant.com/archives.
| Last update: September 25, 2012 |
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