Avon Office Complex Sold For $4.3 Million

New York investor Mark Greenberg has paid $4.3 million for the vacant former Security-Connecticut Life office complex at 20 Security Drive in Avon Park South.

Greenberg’s investment and property management arm, MGRE, purchased the 36-year-old property comprised of two interconnected, four-story office buildings with 102,000 square feet from Avon Associates.

Greenberg has hired commercial broker Joel Grieco of Cushman & Wakefield of Connecticut, who represented the seller, to fill the building with tenants.

That the property is the last remaining large block of vacant office space in Farmington Valley, which, along with its physical attributes, make it suitable to a myriad of uses, perhaps as a medical office, Grieco said.

Attributes aside, the property has a long and complicated history, according to Grieco.

Originally built as headquarters for former Security-Connecticut Life Insurance, the West wing opened in 1973. The East wing was added in 1983. The combined buildings feature large windows with wide views, a cafeteria and covered parking.

Dutch insurer ING inherited the property’s 25-year master lease — which expired earlier this year — when it acquired in September 2000 the assets of former ReliaStar Financial Corp. Three years earlier, ReliaStar and Security-Connecticut were merged.

Two former General Electric insurance divisions at one time were subtenants in about 60 percent of the property. Swiss Re Insurance, which later acquired the GE divisions, and Hovin Underwriting were the last tenants.

Nutmeg State Games On The Move In East Hartford

The Nutmeg State Games has moved offices across town to 50 Founders Plaza in East Hartford.

The Nutmeg State Games leased 2,460 square feet on the third floor for five staff members who coordinate with a 23-member board and thousands of volunteers. They moved from 290 Roberts St. in East Hartford.

The tenant was represented by Jones Lang LaSalle. Landlord GLK Realty represented itself in the transaction.

Kamco site available

Kamco Supply Corp. has placed its 85,000-square-foot, office and warehouse facility at 780 Colony Road in Wallingford on the market for sale or lease.

The rail-served property, with 10,000 square feet of renovated office space and 30 feet to 46 feet clear height warehouse area, is immediately available for lease at $4.50 per square foot net, or purchase at $3.8 million.

Kongsberg renews in Suffield

Norwegian-based Kongsberg Automotive has renewed its lease at 1 Firestone Drive in Suffield.

Kongsberg, which recently purchased the former Teleflex unit, occupies the entire 90,300-square-foot manufacturing facility, owned by Anchor Industrial LLC.

Kongsberg makes automotive seats and seating components.

Benefits firm expands

USI Consulting Group, a Glastonbury benefits consulting firm, has recently renewed its lease and expanded its operations at 95 Glastonbury Blvd. in Glastonbury.

USI recently signed the 33,250-square foot-lease expansion/extension with its landlord, Cross Harbor Capital Partners. Sentry Commercial and UGL Equis represented USI in the transaction.

Greg Seay is the Hartford Business Journal Web editor.