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Declarations of an Independent
Terry Chatfield is president and principal of Housatonic Lumber in Derby. Founded in 1907 by his grandfather, Housatonic is primarily a supplier to professional home-builders and remodelers. Employing 70 people, the company soon will be confronted with a Home Depot scheduled to be built right across the street
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Business New Haven
9/20/1999
By: BNH
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How do you feel about a giant chain coming so close to your location?
I think it might be good for our business, bring in more people. I'm more concerned about the proposed Derby redevelopment that might displace us.
What are the major trends in the business?
One of the biggest trends is that the professional supply channels are being consolidated. New England is typical in the method of distribution: Products go from manufacturer to distributor or wholesaler to supplier to user. Now a lot of businesses are cutting out some steps. To keep the cost down, the manufacturer is selling directly to the user. This trend is more prevalent in other places in the country, but it is creeping east. And the Internet is having an impact. People are using computers to buy, bypassing the showroom.
How to you see the new construction business in today's market?
Connecticut is the last state to come out of the recession of the late '80s and early '90s. In the area of new homes sales, compared to the last run up in the '80s, this is as good or better. Today million-dollar houses are common, and houses are bigger [generally]. There are problems: Connecticut has become a new-construction market but lacks enough professionals [tradespeople] to fill the market. The professionals we have are working flat-out. This means that it is more difficult for the homeowner to get a professional for a small job.
How are people dealing with this trend?
Installed sales is a major trend. The large single-stop stores are set up to deal with the home improvement maintenance market, instead of just catering to the do-it-yourselfer, who hires a professional. These stores are promoting installed sales.
What the biggest challenge independents like Housatonic Lumber face?
The biggest threat to the independent hardware store is the loss of sales of the big-ticket items. People go to the independent for advice and small items; they go to the larger stores, who can undersell the independent, for the big-ticket items. Home Depot, for example, is opening a chain of Villagers Hardware, a standalone hardware store. The independents have to find their niche or they're not going to be around. You're almost going to have to get bigger to survive, or consolidate with someone else. But credit is still a major factor for the independent; they are more inclined to offer it than the big one-stop chains.
Is restoration a bigger business today than ten years ago?
Restoration and upgrading are still an important part of the market. Upgrading was overlooked for a long time and now Yale, for example, is spending a lot of money to upgrade, install ramps, air conditioning and other improvements, redoing existing space.
What other trends do you see in the real estate market?
In Fairfield County, where land is at a premium, people are buying and then tearing down buildings and starting from scratch. You're not seeing this in New Haven as much. Other things have changed. In the early '90s the real estate market in the St. Ronan Street area in New Haven, for example, wasn't that good. Now values are up. Some people are beginning to buy two-family homes in New Haven and convert the houses to one-family. And we're seeing people move back to New Haven from the suburbs.
NEWS
Calcagni Associates Real Estate has been named by National Relocation & Real Estate magazine as one of the "Power Brokers" in residential real estate. The report provided an annual ranking of the top 3,000 residential real estate companies in North America based on the total number of closed transactions. Calcagni Associates closed nearly 1,400 transactions in 1998. Steve Calcagni, president of Calcagni Associates, attributes the ranking to increased business in his firm's Cheshire and Wallingford offices as well as the establishment of an additional office in North Haven.
Ronald Mazzacane of Coldwell Banker Coast & Country Real Estate has won several production awards for the second quarter of 1999. Mazzacane ranked No. 1 in closed gross commission income and in the top 10 in the state for controlled sales and closed revenue units. He is afflicted with the company's Guilford office.
SALES
Morning Pond Resources has announced the sale of 100 Riverview Center, Middletown by Machy, LLC for $500,000. The 60,000-square-foot retail and office facility is located on the corner of Main and Court streets. Travor Davis of Morning Pond Resources represented the buyer; Will Lorenz of Konover Management Corp. the seller.
Press/Cuozzo Realtors has announced the sale of 73 Cogwell Lane in Silvermine Industrial Park, Seymour. The 40,000-square-foot R&D/industrial building, sited on 19 acres, was purchased by Emery Winslow Scale Co. for $1,650,000. Cogwheel Associates was the seller. Joel Nesson was sole broker. Attorney Scott Hurwitz of Greenburg, Hurwitz, Cooper & Silverman represented the buyer, while Jonathan Bowman of Cohen & Wolf represented the seller.
Pyramid Real Estate & Management Co. has announced the sale of a 7,500-square-foot office building at 135 Rennell Drive, Southport, to Susan Pappas and Kyle MacDonnell. Brian J. Dornan and Gordon M. Clark of Pyramid represented the seller, while David Gorbach of Colonial Realty represented the buyers. The company also announced the sale of a 1,748-square-foot industrial condo at 130 Lenox Ave., Stamford. Bruce W. Shelton and Dick Palmer of Pyramid represented the seller, SaatiTech Inc. Leonard Sansone of William Pitt represented the buyer.
Colliers Dow & Condon has announced the sale of Silver Hill Business Park at 500 South Broad Street, Meriden. S.L. Meriden LLC purchased the site for $6,624,000. The 450,000-square-foot industrial/office building was sold by 500 South Broad Street Associates LLC. Nicholas R. Morizion of Colliers Dow & Condon handled the sale. The same firm's Scott Haber was listing agent.
Press/Cuozzo Realtors has announced the sale of a 100,000-square-foot complex located on 13 acres at 410 Sackett Point Rd., North Haven. The site was formerly owned by S.F. Pharmacia and Upjohn. The buyer is Lake A, LLC. Joel Nesson represented the seller.
Rachel Peck of Owens, Renz & Lee of Branford was sole broker in the sale of Normandy Heights Apartments, 295 Brittany Farms Road, and Sandy Brook Apartments, 1317 East Street, New Britain. The properties were part of the REO portfolio of the Connecticut Housing Finance Authority and were sold subject to CHFA financing. Both properties were sold in a sealed-bid sale. Normandy Heights was purchased for $7,126,000 by Normandy Heights LLC and Sandy Brook was purchased for $6,026,000 by Sandy Brook LLC.
Press/Cuozzo Realtors has announced the sale of two adjacent properties on Chapel Street in New Haven. The former Tifton Jewelry Building at 831-839 Chapel Street has been sold by Peter DeRose to Alfredo Garcia, who plans to assemble and sell uniforms. 827-829 Chapel Street was sold by the Kirkiles Trust to the present tenant, Beauty Plus. Melvenia Hylton, owner of Beauty Plus, purchased the building for $80,000. Joel Nesson was sole broker in both transactions.
LEASES
FIP Real Estate Services Inc. has announced the signing of the first lease at Colbalt Center, Cheshire. Anixter Inc., a worldwide provider of telecommunications and data cabling headquartered in Skolie, Ill. leased 7,200 square feet in the new facility. FIP represented the landlord, Colbalt Interests, LLC, and Larry Levere of Kuzmak Williams represented Anixter.
Pyramid Real Estate & Management Co. has announced the following lease agreements: Team Management Inc. has leased an office suite at 159 Main Street, Stamford. Bruce W. Sheldon of Pyramid represented the tenant and the landlord, Rippowam Park Co. Bell Atlantic Mobile has renewed its lease of 6,500 square feet at 116 Post Road, Orange. Brian Doran represented the tenant and the landlord in the transaction. Bell Atlantic Mobile has also renewed its lease of 3,700 square feet at 1201 Kings Highway, Fairfield. Brian Dornman represented the tenant and the landlord.
Copstat Security Inc. has leased 2,300 square feet at 29 Bank Street, Stamford. Bruce W. Sheldon of Pyramid represented the landlord, Ed's Tower, and Jerry Kiley of Antares Real Estate represented the tenant. W.B. Harrigan has leased 1,905 square feet at One Reservoir Corporate Center, Shelton from the Business Media Group. Gordon Clark represented the tenant. The Forum for World Affairs has leased 1,850 square feet at 20 Summer Street, Stamford. Mel Stern represented the landlord and William Pitt represented the tenant. Consumer Business Solutions Inc. has subleased 5,238 square feet at Stamford Tower, 750 Washington Boulevard, Stamford. Bruce W. Shelton represented the sub-landlord, Telco Communications. Ted Lane of Fallon Hines & O'Connor represented the tenant.
CONSTRUCTION
Petra Construction Corp. has commenced construction of a 36,000-square-foot warehouse addition to Warner Lambert's Shaving Products Group at 10 Leighton Ave., Milford. Architect for the project is Pelizza-Robinson of Orange.
Borghesi Building & Engineering Co. Inc. has been awarded the contract to design and construct a 16,000-square-foot office-medical facility on Peck Road in Torrington. Physicians Stephen Yoelson, Steven Bryant and Joel Markowski will occupy the facility. Approximately 5,000 square feet is available for lease.
Lexington Partners has announced that construction has begun on a new warehouse/distribution facility at 33 Stiles Lane, North Haven, the former Barker Steel facility. When redevelopment of the facility is completed in December, it will be anchored by Graebel Connecticut Movers, which will occupy approximately 84,000 square feet. Some 90,000 square feet will be available for lease. The site includes 14 acres of land.
\cutlines\
Silver Hill Business Park at 500 South Broad Street, Meriden recently sold for $6,625,000.
Warehouse/distribution facility to be constructed at 33 Stiles Lane, North Haven.
Adjacent properties at 831-839 and 827-829 and 831-839 Chapel Street in New Haven have been sold.
Terry Hatfield, president and principal of Housatonic Lumber in Derby.
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