Owners of downtown Hartford’s Stilts Building and LAZ Parking are teaming up to expand surface-parking options for the 20 Church St. office tower’s tenants and others.
Owners of downtown Hartford's Stilts Building and LAZ Parking are teaming up to expand surface-parking options for the 20 Church St. office tower's tenants and others.
Benjamin Schlossberg, a managing member in Shelbourne Global Solutions LLC, owner of 20 Church St./Stilts, said Shelbourne and LAZ formed a strategic partnership to acquire and operate the surface lot across the street, at 1000 Main St. That parcel also just happens to overlook the minor-league baseball stadium under construction. Financial terms weren't disclosed.
The goal, Schlossberg said, is more parking for Stilts' tenants in addition to the building's on-site garage spaces. The partnership also expands Shelbourne's realty holdings in the central business district, he said.
More parking for 20 Church tenants is necessary, Schlossberg said, because Shelbourne intends to launch in the second quarter of this year a “shared co-working office space'' concept modeled closely after WeWork Companies Inc. and other U.S. office-sharing ventures. The shared-work spaces would occupy space that once housed broadcast and other operations for WTIC-TV Channel 61, now located at 285 Broad St.
Other partners eventually will be involved in the Hartford shared-office venture, but Schlossberg declined to identify them. LAZ founder-CEO Alan Lazowski did not respond to a request for comment.
Shelbourne acquired a majority stake in 20 Church, and later purchased the nearby 100 Pearl St. office tower for around $81 million.
– Gregory Seay
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