Shelbourne Buys Another Hartford Office Building for $3.1 M

Joe Cooper

Published On January 16, 2020

Shelbourne Global Solutions LLC, one of downtown Hartford’s most active landlords, continued its buying spree in recent weeks with the acquisition of another office building at the corner of Main and Charter Oak streets.

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New York landlord Shelbourne Global Solutions LLC has acquired another Hartford office building on Main Street for more than $3.1 million.

Land records show the New York-based landlord spent more than $3.1 million last month to acquire the three-story, 43,300-square-foot office building at 330 Main St. Shelbourne acquired the property from Crystal Sherrison LLC, led by principal Yoran Ben-Naim, on Dec. 27.

The purchase marks another significant downtown purchase for Shelbourne, which has steadily grown its footprint in the Capital City since 2014. That includes investments of about $140 million buying some of downtown’s most prized Class A office towers, including 100 Pearl, 20 Church St. and The Gold Building.
Shelbourne last year also teamed with LAZ Parking and Lexington Partners LLC in proposing a $100 million plan to redevelop the underutilized Pratt Street corridor.

Shelbourne in recent months has also acquired a surface parking lot on Allyn Street for $3.9 million and is currently weighing whether to invest more than $10 million to revive the vacant One Talcott Plaza garage.

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330 Main St. in Hartford is home to Charter Oak Dental, Connecticut Addiction Medicine LLC, BI Incorporated and a number of law firms.

Its latest investment at 330 Main St. adds a Class B office building to its Hartford realty portfolio.
Built in 1986, the building, just south of the downtown business district, sits on less than a half-acre straddling Main and Charter Oak streets. Tenants include Charter Oak Dental, Connecticut Addiction Medicine LLC, BI Inc. and several law firms.

The office building is located across the street from the Charter Oak Cultural Center and abuts the Adrian’s Towers apartment complex.

Ben Schlossberg, managing member of Shelbourne, in a statement Thursday said Shelbourne’s “plan is to acquire and revitalize properties in Hartford’s central business district in order to rejuvenate and better connect downtown to the surrounding neighborhoods.”

“The acquisition of 330 Main St. is an important component of our long-term plan and we expect to acquire 10 additional downtown properties in 2020 to increase our footprint and our commitment to the Capital City,” Schlossberg continued.

Shelbourne also received a bit of good news last week when Hartford HealthCare confirmed its plan to become the lead tenant at its 100 Pearl office tower.

HHC says it has a lease commitment to occupy six floors spanning over 80,000 square feet at the blue-glass sheathed tower, which Shelbourne bought for $37 million in 2015.