Assisting Connecticut Children's Medical Center with Expansion
In one of the largest lease transactions for office space in downtown Hartford in 2017, members of the firm’s Real Estate practice assisted the Connecticut Children’s Medical Center (CCMC) in leasing more than 110,000 square feet in Hartford Square North, located at 10 Columbus Boulevard in downtown Hartford. By moving its administrative headquarters to the new location from its former location in East Hartford and several smaller offices around the Greater Hartford area, CCMC became an anchor tenant in what is known as the “Candy Cane Building.” The lease is anticipated to provide CCMC with more than $1 million annually in savings over its initial 14+ year term.
Our attorneys worked through, negotiated, drafted and redrafted the complex and complicated lease agreement alongside the in-house legal and business operations teams at CCMC to ensure that the transaction provided our client with the flexibility and stability needed to achieve the consolidation and relocation of more than 400 employees to the new building. Among other things, the transaction brought hundreds of jobs to Hartford’s growing downtown business district and created a central point of operations for CCMC closer to its main hospital campus on Washington Boulevard in Hartford. The new lease also provided our client with more room to expand needed clinical services at its main hospital location.