Pond View Corporate Center in Connecticut Sells for $29.75 Million

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Farmington, CT – CBRE announced that Jeffrey Dunne, Steven Bardsley Travis Langer and Daniel Blumenkrantz of CBRE’s Institutional Properties, in collaboration with John McCormick of CBRE’s Advisory and Transaction Services represented the seller, POND, LLC, an entity controlled by Sovereign Partners, LLC, in the largest office sale, year to date, in Connecticut – the sale of Pond View Corporate Center at 74 & 76 Batterson Park Road in Farmington, CT. CBRE also procured the buyer, a private family office, for their first acquisition in the Capital Region.Pond View Corporate Center is a two building 225,551, 92% leased trophy office property situated on the I-84 corridor, with optimal connectivity, via I-91, to Hartford and New Haven. The recent capital investment of over $3 Million in building infrastructure and tenant amenities has created a best-in-class office environment.The Pond View Corporate Center transaction comes on the heel of CBRE’s successful $7.8 million sale of the adjacent 204-Unit Multifamily Development Site, for Sovereign Partners, to Skala Partners, a real estate development group based in Fairfield, Connecticut. Mr. Dunne commented, “Pond View Corporate Center has proven it is a location in demand, even during the tough COVID environment, Pond View was successful in securing 8 new leases, totaling over 54,000 SF. tenants.” Mr. Bardsley added, “Pond View Corporate Center demonstrates, once again, that during sensitive market conditions, tenants and investors seek a flight to quality, which Pond View provides. CBRE Institutional Properties Group is marketing several attractive investment opportunities including: 181 Harbor Dr, a 91,040 sq. ft single tenant office building leased to Vineyard Vines for their headquarters in Stamford, CT; 777 Commerce Drive, a 62,660 sq. ft 100% leased office building in Fairfield, CT, 55 Post Road West, 38,353 boutique office building located in downtown Westport, CT, and Harborside 5, a 983,041 sq. ft value add office building in Jersey City, NJ.

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