New York-based Shelbourne Global Solutions LLC, downtown Hartford's largest commercial landlord, has added to its center-city holdings with the purchase of a mixed-use office building occupied by Trumbull Kitchen, among other tenants.
Shelbourne said it closed on the 50,000-square-foot, six-story office building July 30, paying $2.3 million for the property, whose other tenants include law firm Siegel, O’Connor, O’Donnell & Beck and boutique jewelry retailer Armstrong Rockwell.
The seller of the property was 150 TRUMBULL ST ASSOC LTD PTNS.
With its latest purchase, Shelbourne now controls key, interconnected sections in the heart of downtown Hartford, including a large portion of Pratt Street, where it’s currently leading a $100 million redevelopment project, and 100 Pearl St., anchored by Hartford HealthCare, which is currently renovating a large portion of space within the building.
This purchase expands our footprint at the corner of Trumbull and Pearl streets and complements the renovation work and streetscape upgrades already underway at both 100 Pearl Street and neighboring Pratt Street, said Shelbourne Chief Operating Officer Michael Seidenfeld. This corner of Hartford is quickly becoming a healthcare hub in downtown Hartford, and this will help us facilitate that evolution and offer synergies to our healthcare tenants and other forward-thinking companies and corporations looking to relocate to downtown Hartford.
In just seven years, Shelbourne has grown into a major commercial landlord in downtown Hartford and a central player in its revitalization effort. Since 2014, Shelbourne has acquired four downtown Hartford office towers, partnered with LAZ Investments to buy the iconic Gold Building, and purchased three buildings on the south side of historic Pratt Street.
Most recently, Shelbourne partnered in June with Axela Group, a Waterbury-based development, construction, and property management firm, to buy the former Radisson/Red Lion hotel at 50 Morgan Street. They plan to convert the building into apartments.