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State-Owned 15-Story Office Tower in Hartford to Trade Hands
Cromwell-based commercial real estate investor William Coons III, and his company Spartan Towers LLC, have signed a purchase-contract with the state of Connecticut to acquire 25 Sigourney Street., a 15-story, 467,000-square-foot office tower in Hartford. The state has agreed to sell the property for $1 million in cash.
The property, which previously housed a number of state offices, was abandoned in 2017 after water leaks and mold forced tenants out. The city assessed the value of the property at $18.9 million in 2019.
The renovation of the building’s interior and exterior, including reconfiguring its interior layout to accommodate office tenants, is expected to cost more than $30 million. The building was constructed in 1984 to house commercial tenants, including Xerox Corp. The state acquired the building in 1995.
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