Employees at the Connecticut Department of Banking have spent the past 30 years working in a two-story building on Constitution Plaza in downtown Hartford. Last year, however, the state's financial regulator decided it was time for new digs.
Department officials signed a lease to move to an office building at 280 Trumbull St. in Hartford. Technically, the department moved half a mile to its new location, but the lease itself further solidified Hartford as Connecticut's epicenter for government and financial services jobs, local commercial real estate brokers said.
The banking department officially signed the lease to 280 Trumbull in July 2025, and now the operation occupies the entire 16th floor, which spans 25,469 square feet, according to CoStar data.
The lease was such a substantial commitment to the city that it earned a 2026 CoStar Impact Award, as selected by an independent panel of local industry professionals.
"The department’s move represents a transition to an office that better meets the needs of a modern workforce while remaining part of the Hartford community," Jorge Perez, the state's banking commissioner, said in a statement in mid-November, when the move was complete. "As the financial services landscape changes, the impacts are felt across industries. The new space is designed to foster better collaboration within the department, so we may continue to serve the residents of Connecticut and provide common-sense regulation."
About the project: The Connecticut Department of Banking has moved into the 29-story office building that has roughly a dozen full-floor spaces still available. An accounting firm occupies the 24th floor and, Prudential Financial is on the 17th, according to CoStar data. The department used a request-for-proposals process, led by the state's administrative services department, to find its new space.
The department regulates state-chartered banks, credit unions, consumer credit and securities offered to residents of Connecticut. The City of Hartford still maintains a first-floor lease, which expires in June 2028, at the banking department's former home at 260 Constitution Plaza.
What the judges said: "Given the challenges in downtown Hartford with remote workers and companies downsizing their footprints, this lease will add people, investment and vitality to the city," said Arthur Ross, executive managing director at Newmark.
"By keeping a major state agency and its workforce in the central business district, the lease preserves daily foot traffic, supports surrounding businesses and maintains occupancy in a Class A tower," said Tim Bray, a broker for Seaport Commercial. "The decision to remain in Hartford rather than relocate elsewhere demonstrates confidence in the city’s core and contributes to the long-term economic stability and vibrancy of the downtown market."
They made it happen: Alexis Augsberger, first vice president at CBRE, served as the listing broker on the lease.
CoStar Market Manager Coleman Applegate contributed.