HARTFORD, CONN. – Hines, the Houston-based international real estate firm, has sold One State Street, a 24-story office building in Hartford to The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re. HSB is the major tenant and has its corporate headquarters in the landmark building overlooking the Connecticut River.
The 500,000-sf office building was designed by Skidmore, Owings & Merrill. Hines, which developed, owned and has managed the building since its completion in 1983, has been retained by HSB to continue on as property manager.
“We are pleased to have secured HSB’s long-term commitment through the ownership of this wonderful building that we developed jointly with them as their headquarters more than three decades ago,” said Hines Senior Managing Director David Perry. “We are thrilled that HSB has chosen Hines to continue as property manager.”
“Hines has been a great partner through the years and we are delighted to continue our relationship,” said Greg Barats, president and chief executive officer of HSB. “One State Street is a ‘best in class’ office building; the property’s location, quality and status are an ideal fit for our company and our tenants.”
Hartford Steam Boiler (HSB), a member of Munich Re’s Risk Solutions family since 2009, is a leading engineering and technical risk insurer providing equipment breakdown insurance products, other specialty coverages, and related inspection services and engineering consulting