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| Blue Back Square sits within West Hartford Center, West Hartford, CT |
BOSTON, MA – JLL Capital Markets announced it has closed the $40.5 million sale of Blue Back Square, a dynamic 445,661-square-foot mixed-use property with ground floor retail, best-in-class office and medical office space, along with 48 residential units in West Hartford, Connecticut.
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| Chris Angelone |
JLL marketed the property on behalf of the seller. The purchaser was a joint venture between Charter Realty & Development of Greenwich, Connecticut, and funds managed by Miami-based Rialto Capital.
Blue
Back Square is a fully integrated mixed-use development consisting of six
buildings on 6.4 acres at Memorial and Isham roads in West Hartford.
The
property is within West Hartford Center, which is known as “The Center” and is
one of Connecticut’s most well established and dynamic trade areas.
There
are few – if any – opportunities for new development in The Center of this
scale, and the area has historically commanded the highest rental rates for
retail and office space in central Connecticut.
 |
| Zach Nitsche |
Notable tenants include Crate & Barrel, Barnes
& Noble, Cinepolis Luxury Cinemas and an array of desirable local and national
restaurants and stores.
The JLL Capital Markets Investment Advisory team included Chris Angelone, Zach Nitsche, Nat Heald and Dave Monahan, along with Sean O’Neill of JLL’s Leasing team.
For
more news, videos and research resources on JLL, please visit our newsroom.
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| Nat Heald |
About Blue Back Square
Blue Back Square is a unique shopping, living, dining, and entertainment destination.
Anchored by Crate & Barrel, Cinepolis Cinemas, West Elm, and Barnes & Noble, the property also has several upscale restaurants and retailers such as The Cheesecake Factory, Fleming’s Prime Steakhouse and World of Beer.
Centrally located in the highly sought-after town of West Hartford and
regionally accessible to all of Central Connecticut, Blue Back Square is where
people shop, eat, work, play and live.
 |
| Dave Monahan |
Charter Realty & Development Corp. is a full-service commercial real estate acquisition, development, and leasing company founded in 1993 by Paul Brandes and Dan Zelson.
Charter specializes in acquiring both urban and suburban infill retail and mixed-use assets.
Charter’s vertically integrated platform identifies value-creation and growth opportunities for all real estate product types. .
About Rialto Capital
Rialto Capital is a fully integrated real estate investment management, asset management and operating company.
 |
| Paul S. Brandes |
The company invests and manages assets throughout the capital structure in real estate properties, loans, and securities.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
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| Dan Zelson |
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on
JLL, please visit our newsroom.
CONTACT:
Kimberly Steele
JLL Senior Associate
Public
Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
or
Kate Terricciano
Image Marketing on behalf of Charter Realty
Phone: +1
860 919 1020
Email: Kate@imagemarketingconsultants.com
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