Michael Guidicelli, CCIM of Regions Commercial, LLC was the sole broker representing the seller, Meriden YMCA & B,B,E,D,M & J, LLC in the sale of a 12,250 SF office building located at 88 State St. in Meriden, CT, formerly the Stone Insurance Agencies headquarters, for $675,000, to the State of Connecticut, Department of Transportation.
The buyer purchased this property as part of the redevelopment of the Downtown Meriden high-speed rail and intends on razing the building which will serve as the future location of a parking garage.
The New Haven-Hartford-Springfield (NHHS) Rail Program will provide significant new regional passenger rail service options as a key component of a robust and vibrant multi-modal regional transportation system. With funding from the new High-Speed Intercity Rail Program created by President Barack Obama in 2008, and Connecticut, the NHHS Rail Program will provide the infrastructure and trains to operate some of the nation’s best passenger rail services. As the gateway to New England, the NHHS Rail Program will also facilitate improved service to Massachusetts, Vermont and eventually Montreal. New train service will connect communities, generate sustainable economic growth, help build energy independence, and provide links to travel corridors and markets within and beyond the region.NHHS rail service will operate at speeds up to 110 mph, cutting travel time between Springfield and New Haven in as little as 73 minutes. Travelers at New Haven, Wallingford, Meriden, Berlin, Hartford, Windsor, Windsor Locks and Springfield will be able to board trains approximately every 30 minutes during the peak morning and evening rush hour and hourly during the rest of day, with direct or connecting service to New York City and multiple frequencies to Boston or Vermont (via Springfield). New train stations also are planned at North Haven, Newington, West Hartford and Enfield.
For additional details on this property or to learn how Regions Commercial, LLC can be of benefit to you in the sale or leasing of your commercial investment real estate, please contact us today at 860.854.6500.