Northpath Investments Buys Connecticut Office Asset

Building Two at 175 Scott Swamp Road

Northpath Investments has acquired Building Two at 175 Scott Swamp Road, a 100,539-square-foot office property in Farmington, Conn. Harvest Equities sold the asset for $13.5 million, according to public records.

Jll Capital Markets secured the $8.8 million, five-year, non-recourse acquisition loan provided by bankESB. The building previously traded in 2005, when the current seller picked it up for $25.3 million, CommercialEdge data shows.

The asset is part of a 16.5-acre office campus encompassing two buildings, with the properties having separate owners. The Tomasso Group is listed as the owner of Building One, which opened in 2008.

Health insurance provider ConnectiCare is the sole tenant of Building Two and has been operating at the property since its completion in 2002. The controlled-access building offers onsite amenities, such as a cafeteria and 530 parking spots.

A JLL team led by Senior Managing Director Michael Klein, Director Max Custer and Analyst Salvatore Buzzerio negotiated the loan transaction on behalf of the borrower. In August, Custer was also involved in securing a $31 million refinancing loan for a 210,000-square-foot office building in Union, N.J. JLL worked on behalf of the landlord, an affiliate of Cali Futures LLC.