A joint venture between Greenwich, Conn.–based Charter Realty & Development and funds managed by Miami-based Rialto Capital has purchased of Blue Back Square, a dynamic 445,661-square-foot mixed-use property with ground floor retail, best-in-class office and medical office space, along with 48 residential units in West Hartford, Conn.
The sales price was $40.5 million; however, the seller was not disclosed. JLL Capital Markets marketed the property on behalf of the seller.
Blue Back Square is a fully integrated mixed-use development consisting of six buildings on 6.4 acres at Memorial and Isham roads in West Hartford. The property is within West Hartford Center, which is known as “The Center” and is one of Connecticut’s most well-established and dynamic trade areas. There are few — if any — opportunities for new development in The Center of this scale, and the area has historically commanded the highest rental rates for retail and office space in centra
