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The Property Exchange
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Business New Haven
1/22/2001
By: BNH
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NEWS
The APT Foundation, a substance-abuse research and treatment facility, is moving several programs two blocks from its current site on Legion and Sylvan Avenues in New Haven to the Welch Center at 495 Congress Avenue. Renovations to convert the former school building began last summer. Programs being moved to the new location include the Legion Clinic. which provides methadone maintenance treatment; the Central Medical Unit, which provides initial physical examinations and follow-up care throughout treatment; the Central Opiate Intake, which provides rapid access to treatment; as well as two research programs. Founded in 1970, the APT Foundation is a private, non-profit organization which provides substance-abuse services to public and private clients.
Nicholas R. Morizio, president of Colliers Dow & Condon, was cited at the Specialist, Industrial and Office Real Estate (SIOR) National Conference in Denver, Colo. for 20 years of active SIOR membership in SIOR. The SIOR designation is earned by individuals who have met rigorous requirements based on their knowledge of the commercial real estate industry, professional and educational background and adherence to ethical standards. SIORs are also estimators, appraisers, investment specialists, site-selection brokers and negotiators.
Deborah Laviero, who joined the Construction Institute in August 1999 as project coordinator, has been promoted to assistance director of the organization. Bill Cianci, CI executive director, said that Leviero's new title more accurately reflects her duties and responsibilities. Laviero coordinates and promotes CI seminars and forums, markets educational programs and workshops and oversees the organization's newsletter and Web site.
LEASES
Joel Hausman and David S. Gorback of Colonial Realty of Fairfield announced five lease transactions totaling 302,000 square feet. Nadel Industries, a manufacturer for the cosmetics industry, leased 82,000 square feet on Moffit Street in Stratford. The company is relocating from New York. Coca-Cola has completed a 70,000-square-foot build-to-suit on Rado Drive in Naugatuck, for use as an office and distribution center. Also, KX Industries has renegotiated and expanded into a 100,000-square-foot facility on Lambert Road in Orange. The facility will become KX's corporate headquarters.
Also, Colonial announced that the Connecticut Post has leased 38,000 square feet of distribution space at 1785 Stratford Avenue in Stratford. Requa Inc. has leased 12,000 square feet of manufacturing space at the Bridgeport Trade & Technology Center at 540 Barnum Avenue, Bridgeport. The manufacturer of health and beauty products relocated from Greenwich.
Coldwell Banker Commercial reports that British Motor Works LLC has leased 1.8 acres at 823-831 Bridgeport Avenue, Milford. The company signed a 25-year lease with the landlord, Keystone Milford III LLC, and will construct a new 8,000-square-foot building for a Land Rover dealership. Christopher O'Hara of Coldwell Banker Commercial represented British Motor Works, whbile David Mack of David Mack Properties represented Keystone Milford III.
Vidal/Wettenstein LLC has announced that Contractors Direct has leased 4,000 square feet at 29 Eastern Steel Road, Milford. Contractors Director, which has operated in Bridgeport for the past eight years, will make the move to Milford next month. CD is a major distributor of tiles and equipment to tile contractors. Scott Zakos of Vidal/Wettenstein represented the tenant; Bill Clark of the Geenty Group Realtors represented the landlord, Connors Realty LLC.
H. Pearce Co., Realtors announces that Custom Crete Warehouse has leased 5,500 square feet of warehouse space at 118 Quinnipiac Avenue, North Haven. The space will become the company's main office and warehouse. Kevin Smith of H. Pearce's North Haven industrial/commercial office exclusively represented both the landlord, CES Associates, and the tenant.
SALES
Marcus & Millicap Investment Real Estate Services of New Haven has announced the sale of the Liberty Building, 152 Temple Street, New Haven. The 123 residential unit facility sold for $7.7 million. Built in the early 1900s, the building is located across the street from the Omni New Haven Hotel. The building includes a fully equipped fitness center, outdoor café seating, a 130-car garage and a restored gold-leaf atrium ceiling. The buyer plans to add additional amenities focusing on furnished corporate suites and marketed to the Yale University graduate and professional community. The building contains 77 studios, 38 one-bedroom units, one two-bedroom, three studio lofts and four one-bedroom loft units. Steve Witten and Victor Nolletti of Marcus & Millicap brokered he transaction. The seller was Liberty Realty Associates, LLC, while the buyer was Ansonia Liberty, LLC.
Press/Cuozzo Realtors has announced the sale of a retail-residential complex at 920-924 Whalley Avenue in New Haven's Westville neighborhood. The property, which closed at $282,500, includes three retail and eight residential units.Press/Cuozzo's Joel Nesson was sole broker in the transaction. The buyer was Whalley, LLC, which purchased the property from 920 Whalley Avenue Associates.
Beazley Co., Realtors announces that the U.S. Postal Service has purchased 244 North Main Street, Branford, for $1.75 million. The former Bullard Furniture property comprises 3.02 acres of land and a 32,000-square-foot building. The USPS will use the property for a carrier annex to serve the Branford area. Beazley's Bob Adnopoz was sole broker in the transaction.
The Investment Properties Group at CB Richard Ellis announces the sale of One Financial Plaza, Hartford, to Talcott Realty Investors. The 26-story, 622,435-square-foot downtown office tower sold for $59,694,000 - approximately $96 per square foot. Phil Giunta, John McCormick, Scott Richmond and Patrick Mulready of CB Richard Ellis' Investment Properties Group represented the seller, Principal Capital.
OR&L announces that McCabe Office Furniture has purchased the former Webster Bank building, at 1227 Whitney Avenue, Hamden, for $225,000. Relocating from New Haven, the company sells and leases furniture throughout Connecticut. OR&L's Frank Hird represented Webster Bank.
EXCLUSIVE LISTINGS
Press/Cuozzo Realtors' Joel Nesson has been appointed exclusive broker for the sale of 800 Sherman Avenue, Hamden. The single-story, 33,360-square-foot facility is set on 4.33 acres in Hamden's M-1 Zone.
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