Building that is home to 3 restaurants in West Hartford Center for sale

Contributed JPMorgan Chase is selling a portion of the building on Farmington Avenue that is home to three restaurants.

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Most of a West Hartford Center building that is home to three restaurants has been listed for sale for $9 million.

The listing by Avison Young, a global commercial real estate company based in Toronto with an office in Hartford, seeks to sell a condominium interest in 12,060 square feet of the overall 16,800-square-foot building.

The portion of the building listed for sale is 962-966 Farmington Ave., home to Ichiro Hibachi & Sushi, Max’s Oyster Bar, and Chipotle. The remaining portion not listed for sale houses a Chase Bank branch at 960 Farmington Ave.

According to town property records, the entire building was built in 1947 and was acquired by JPMorgan Chase Bank N.A. for $12.9 million in December 2019. The bank branch opened in 2020.

Scott Jamieson, a broker with Avison Young, confirmed that the bank owns the entire building and is looking to sell the portion that does not include the bank branch. He said the corporation generally owns only standalone branches, so it is creating and selling a condominium interest for the portion of the building that houses the restaurants. He declined further comment.

Marketing materials for the property published on the Avison Young website highlight the building as a good investment because of the restaurants, calling them “long-term sticky tenants.”

The restaurants “have original occupancies dating back 15 to 35 years,” the website states. “The property boasts a stable and secure cash flow with a weighted average remaining lease term of five-and-a-half years and staggered lease expirations.”

The website also notes that the building is located “at the gateway of West Hartford Center,” which features a “mix of national and local retailers, coffee shops, casual eateries, hip restaurants, and a wide variety of retail shops and services, making it a desirable destination to shop, dine, and stroll.”