Connecticut Health Insurance Company Finds New Space

Connecticut Health Insurance Company Finds New Space

Connecticut’s Anthem Blue Cross and Blue Shield will be moving its headquarters next year from North Haven to Wallingford. The company recently signed a 10-year lease with property landlord Workstage-Connecticut, LLC for space in a 300,000-square-foot office building, the Campus at Greenhill.

The relocation plan will be in two phases: the first occurring in September 2011, and the second and final phase in September 2012. In all, Anthem will occupy 217,764 square feet of the campus.

In September 2007, Anthem pursued a sale lease-back real estate transaction with Quinnipiac University and sold its four commercial buildings, totaling 574,748 square feet, and 104-acre campus to the university. The sale allowed Anthem to maximize the company’s economic resources by redirecting the capital invested in real estate property to help fulfill its core business goals and the objectives of the corporation. Anthem currently leases the North Haven campus from Quinnipiac. The lease agreement allows for Anthem to occupy three buildings until September 2012.

“Anthem’s move will enable Quinnipiac to move forward expeditiously with its plans to open a medical school and relocate its other graduate programs to the North Haven Campus,” said Mark Thompson, the university’s senior vice president for academic and student affairs.

The Campus at Greenhill is a newly constructed, high-performance, two-story, Class A office green campus. Designed originally as a call center for a mortgage lender, the shell of the building is finished, but the inside framework needs to be completed. The owner, architect, and contractor plans call for environmentally friendly exterior improvements. All site and building modifications will require major construction completion of mechanical, electrical, plumbing, and architectural elements. A formal solicitation to area service providers is in development and negotiations will begin soon.