A few dozen Greater Hartford area real estate brokers gathered in the expansive lobby of the Atrium at Gillette Ridge in Bloomfield Wednesday for a first look at renovations to, and available space in, the 548,301-square-foot office building. The enormous office building – with a 40,000-square-foot, glassed-top atrium anchored by a waterfall fountain – was originally […]
A few dozen Greater Hartford area real estate brokers gathered in the expansive lobby of the Atrium at Gillette Ridge in Bloomfield Wednesday for a first look at renovations to, and available space in, the 548,301-square-foot office building.
The enormous office building – with a 40,000-square-foot, glassed-top atrium anchored by a waterfall fountain – was originally built in 1982 to serve Cigna at a cost of about $130 million. Cigna sold the building to MetLife for $50 million in 2007, then consolidated to another large building on its expansive campus.
Real estate investors Harry Tawil and Jeffrey Chera represent their families as principals in The Atrium CT, a limited liability company that paid $10.4 million for the building late last year.
Tawil, on Wednesday, said they’ve spent more than $2 million so far on renovations, most of which went to new porcelain tile flooring in the lobby and a conversion to LED lighting that is about 70% complete. The partners have also outfitted a games rooms, updated interior landscaping and refurbished outdoor recreation space, among other amenities.
Tawil said the partners have lined up another $2 million for further renovations as additional tenants sign on. He said the building is about half occupied at present.
Tawil said the partners have also put a new roof on a 100,000-square-foot manufacturing/warehouse building, which has seen a good deal of interest. The property also has a 41,000-square-foot “flex” building with high ceilings.
“This event is to help show people the dollars we are putting into the property,” Tawil said. “Hopefully, that will help stimulate some more activity. It’s not the same old space. There’s improvements. There’s a lot of dollars going in and it’s time to take a fresh look.”
Joel M. Grieco, executive director at real estate brokerage Cushman & Wakefield, is brokering the building. Grieco said showcasing events like Wednesday’s were once common but have become rare in recent years as fresh office product has not come onto the market. And they had virtually ceased since the onset of the COVID-19 pandemic.
“Even pre-COVID, events like this became a rarity,” Grieco said. “I went to one a year.”
Philip Gagnon, a principal with Colliers, said he had attended about a dozen building showcases in the past decade. The Atrium tour was his first since the onset of COVID.
“I hadn’t been here in many years,” Gagnon said. “I was intrigued to see how the new ownership was investing in the property.”
