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NEWS
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Business New Haven
10/18/1999
By: BNH
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Constitution Plaza Purchased in Joint Venture
Capital Properties Inc. of New York has purchased a major financial interest in Hartford's Constitution Plaza as a joint-venture partner with GE Capital Real Estate, the previous owner. The purchasers hope the landmark property will serve as a gateway to the city's riverfront redevelopment effort. GE Capital Real Estate has already invested several million dollars to restore the One Constitution Plaza building to Class A commercial status.
Fischer Properties Marks Milestone
Fischer Properties is celebrating two decades in the real estate business in New Haven and Fairfield counties. Recording more than $130 million in annual sales, they are located at 562 Washington Avenue in West Haven.
QC Library Gets Bigger, Better
FIP Construction of Cheshire is general contractor for a 60,000 square foot renovation and expansion project at the Arnold Bernhard Library at Quinnipiac College in Hamden. Approximately 12,000 square feet of the current facility, including library and administrative area, is being renovated, with 48,000 square feet of new construction being added. The project is slated for August 2000 completion.
Gift Fuels NVCTC Renovation
Naugatuck Valley Community Technical College has received a $1 donation from Ruth Ann Leever, an avid supporter of the arts. The donation is the largest sum ever given to a community technical college in Connecticut. The funds will be used for the renovation of the lobby and main stage of the college's Fine Arts Building. The state legislature will match the gift with an additional $600,000. Once the money is received the state plans to bid out design and construction on the project. Renovations are expected to be completed during 2001.
SALES
Marcus & Millicap Nolletti Real Estate Investment Services of Branford has announced the sale of Valley Ridge Apartments in Westfield, Mass to Mass Westfield LP. The 182 apartment units sold for $5,400,000. Seller was SKW Real Estate Limited Partnership, which acquired the property in 1996 through foreclosure. The sale represents the largest conventional multifamily transaction in Massachusetts to date for 1999.
LEASES
Pyramid Real Estate & Management Co. has announced that Joseph Sanfilippo has leased 1,155 square feet of office space at 1700 Road Rd., Fairfield. Brian Dornan of Pyramid represented the landlord and Rand Real Estate represented the tenant. Pyramid also reports that Subway Sandwich Shop has renewed is lease of 1,600 square feet of office space at 1367 New Haven Ave., Milford. J.A. Floral Designs has also renewed its lease of 1,200 square feet of office space at 1700 Post Rd., Fairfield. Brian Dornan represented the tenant and landlord in both transactions.
OR&L Realtors announces that 20,000 square feet of office space at 10 Alexander Drive, Wallingford, has been leased by Tickets.com. The site, located in Barnes Industrial Park, is owned by Alexander LLC. Frank Hird and James Quinn of OR&L represented the tenant.
CONSTRUCTION
Borghesi Building & Engineering Co. has been awarded the project to design and construct Baurer Howden Inc.'s new corporate offices and manufacturing facility in Bristol. Bauer Howden offers design, manufacturing, installation, training, documentation and support to international industrial and aviation markets. Its support services include industrial and aviation fuel, nozzle cleaning and testing, equipment modifications, field service and technical consultation.
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