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Real Estate
Carl Traub of Traub & Co. Real Estate has announced that leasing has begun for 227 Church Street, New Haven, former corporate headquarters of the Southern New England Telecommunications Corp
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Business New Haven
8/23/99
By:
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What is the historical importance of 227 Church Street?
Completed in 1938, the building was designed by Douglas Orr and R.W. Foote and is considered to be the finest example of Art Deco design in the region. It's listed on the National Register of Historic Places.
Who owns 227 Church, and when did they purchase it?
The building was purchased in 1997 by Connecticut Properties LLC, a subsidiary of New York City-based Elk Investors Inc.
What are the selling points and who might be possible tenants interested in leasing space?
This site is ground zero for the downtown financial district. The court systems are there, lawyers, accountants, corporate headquarters and it's right next to Yale - everything is there. The building is a historic high-rise building that will be a class A office tower when completed. It will feature state-of-the-art air conditioning, life-support systems and the location will be on a telecommunications grid, giving tenants access to state-of-the-art communications.
How much work is required to prepare the building for tenants?
A lot needs to be done. Presently the interior is undergoing the demolition phase. The floors are being opened up, the mechanicals are being upgraded and the lobby is being preserved.
Have any tenants leased space at 227 Church Street to date?
We're talking to several tenants now who are interested in occupying at least one floor. Each floor is 10,000 square feet. An attorney is looking at space, a corporate tenant and an out-of-town organization.
Is the building ready for occupancy for multiple tenants?
We're ready to start the tenant work now. If a tenant occupies an entire floor - and right now we're only talking to tenants that want a minimum of one floor - then there is no reason to hold back opening the building.
How long do you expect it to take to lease and what is the cost range for space?
We expect to have tenants in by Thanksgiving of this year. The cost is $16.50 a foot plus tenant electric.
What class space will the building be renovated to?
Class A, and let me define that. To be a class A building, it must be in a prime location, have modern, state-of-the-art systems, well-known companies as tenants, full support services and command upper-tier market rents.
What issues will most likely affect the leasing?
Aside from the location, the building has a theater and we're talking to people about having a conference facility on a limited basis. We also plan to have day care in the building and a gym with marble showers. We're in the process of identifying a restaurant or food service for the first floor. We're bringing a New York standard to New Haven with this building.
What problems have you had?
Parking is the biggest problem. We're arranged with the city to use the Macy's parking garage and we have one surface lot at the building which needs to be redone. The city has been promising a mid-block garage for ten years, and when that is built it will provide space for 900 cars adjacent to the building.
NEWS
BLJ Millennium, LLC in Middletown has acquired an additional 20 acres of land abutting its current complex, giving the company a total of 60 acres with a 250,000-square-foot facility. The company plans to build up to 400,000 square feet of new speculative and build-to-suit industrial and flex buildings on the property.
Supervalu/Sweet Life Cash & Carry, a wholesale grocery, has tentatively agreed to occupy the former A&P site at 1926 State Street, Hamden. The owners of the property, State/Ridge LLC, have submitted a proposal to the town's Economic Development Department for a grant of $428,850 to cover site work improvements for the entire shopping center complex, as well as building improvements. According to Mayor Barbara DeNicola's office, grant funds are available through the State Street Commercial Revitalization Project funded by a state grant of $500,000 received last year. The proposal will be reviewed by the Economic Development Commission and its State Street Advisory Committee prior to submission to the Legislative Council for final approval.
FIP Construction Inc. has been awarded the 1999 Honor Award for Design by the Boston Society of Architects/AIA and the Healthcare Assembly for the new MidState Medical Center in Meriden. The 230,000-square-foot community hospital, completed last year, was the first new stand-alone medical facility to be built in Connecticut in three decades.
William Orange Realty in Orange recently celebrated its tenth anniversary with an open house at its Racebrook Road office. The agency provided food and live music under a massive tent set up adjacent to the office for customers and staff.
SALES
Connecticut Sports Center has purchased 21 S. Bradley Rd., Woodbridge. The company has been leasing the property since 1997 and purchased the site for $895,000. Fred Maretz and Steve Miller of Levey, Miller, Maretz & Proto were exclusive agents in the sale of the former tennis facility.
Joseph and Gail Fazzino, d/b/a Falton Investment, LLC, has purchased 251 Whiting St., New Britain. The Fazzinos are principals of Service Sawing Inc., a manufacturer specializing in close-tolerance cut-off operations for other metalworking manufacturers. Bob MacBain of Colliers Dow & Condon represented both the seller, Harris Brothers L.P., and the buyer.
Heritage Truck & Equipment Inc. has purchased a 3,960-square-foot industrial building at 1054 South Colony Rd., Wallingford. The property will be used by Heritage to further expand vehicle and equipment storage capacity. Kevin Smith of H. Pearce Co.'s North Haven Industrial/Commercial office represented the seller, Maura J. Giamo, and the buyer.
Bill Silverman of Levey, Miller, Maretz & Proto recently represented both buyer and seller on the sale of 1 Grand Ave., New Haven. The building, constructed in 1882 along the Quinnipiac River, is 10,000 square feet and sold for $155,000. Seller was Paul Rollins of Arizona and buyer is Doug Falwall of Hartford, who will used the property for a studio and living space.
Silverman Design has purchased a 12,000-square-foot Victorian office building at 436 Orange St., New Haven. Jim Johnson of Dow Realty represented the seller, Mahareshi School of A Yur-ved Inc. Bill Silverman of Levey, Miller, Maretz & Proto represented the buyer. Silverman Design is a nationally recognized design firm specializing in sports promotion.
Steven Witten of Marcus & Millichap Witten & Nolletti Real Estate Investment Services, Branford, was sole broker in the sale of Valley Ridge Apartments at 342 Southwick Rd., Westfield, Mass. The apartments were purchased for $5.4 million by Mass Westfield LP. Seller was SKW Real Estate Limited Partnership.
Brahms & Brahms II LLC has purchased the Westfield Shops on East Main St., Westfield, Mass. for $22 million. Scott Habor and Nicholas R. Morizio of Colliers Dow & Condon represented both the buyer and the seller, Wessshops.
P. Carr Associates LLC has purchased an industrial building at 70 Research Dr., Milford for $850,000 from Edward Raposa. Norman Greenhouse of Quantum Realty was sole agent in the sale.
LEASES
CLS, an electrical distributor, has leased 45,000 square feet at 130 Hamilton Ave., New Haven. Carl Traub of Traub & Co. represented CLS in the transaction.
Career T.E.A.M. LLC, a welfare-to-work training provider, has leased space at the Foundry Square building, 153 East St., New Haven. The office will house its administrative and training facility. John Friedlander of Traub & Co. represented Career T.E.A.M. in the transaction.
Tickets.com has leased 20,000 square feet in a corporate office building at 20 Alexander Dr., Wallingford. Frank Hird and James Quinn of O,R&L Realtors represented the owners, while Joel Nesson of Press Cuozzo Realtors reprsented the tenant.
Wyrepak Industries has leased 22,800 square feet of industrial space at 50 McDermott Rd., North Haven for use the as its main headquarters. The company manufacturers equipment for the wire industry. Kevin Smith and David Roetting of the H. Pearce Co.'s North Haven Indistrial/Commercial office exclusively represented the landlord, 50 McDermott Road Associates. Phil Barber of Calcagni Commercial represented the tenant.
Cohn Birnbaum & Shea, attorneys at law, have subleased 1,133 square feet of space at 830 Post Rd., Westport. Bruce W. Sheldon of Pyramid represented the tenant, while David Fugitt of John D. Hastings Real Estate represented the sub-landlord.
PubliCARD Inc. has subleased 3,361 square feet of space at 75 Kings Highway Cutoff, Fairfield from the Business Media Group. Gordon Clark of Pyramid Real Estate & Management Co. represented the sublessor. Ernest DeLucia and Robert Gold of Grubb & Ellis represented the sublessee.
Career T.E.A.M. has leased 2,055 square feet at 144 Golden Hill St., Stamford. Gordon Clark of Pyramid Real Estate & Management Co. represented the landlord and George Shawah Jr. of Baldwin Pearson & Co. represented the tenant.
Profitec Inc. has leased 30,170 square feet at 1 Barnes Rd., Wallingford. Sentry Commercial Real Estate Services Inc. represented the landlord, WEI FLEX I, LLC, and Colliers Dow and Condon represented the tenant.
North American Wireless Solutions Inc., a subsidiary of SNET, has leased the newly remodeled Grand Union Shopping Center at Strawberry Hill and Westport Avenues, Norwalk. The store will be used for the sale of wireless communications and phones. Joseph D. Breault of M.F. DiScala & Company Inc. was the leasing consultant.
Lesco Inc., a national wholesale distributor of supplies to the landscaping industry, has leased 6,500 square feet of space at 39 Maple Tree Ave., Stamford. Dick Palmer of Pyramid Real Estate represented Lesco and Sean Cahill and Al Mirin of CB Richard Ellis represented the landlord, Grce Realty.
Choice Pet Food has leased 2,044 square feet at the Grade A Shoprite Plaza on Connecticut Ave., Norwalk. Mark Brockwell of MJB Realty represented the tenant. Joseph D. Breault of M.F. DiScala & Co. Inc. represented the owners.
Exec-U-Net has leased 4,585 square feet at Sedona Plaza, 295 Westport Ave., Norwalk. Jeff Gage of Alvert B. Ashfort Inc. represented the tenant and Joseph D. Breault of M.F. DiScala & Co. Inc. represented the owners.
CONSTRUCTION
FIP Real Estate Services Inc. has announced that construction of Cobalt Center, located in the Cheshire Industrial Park, Cheshire, is underway. The center will include office, shipping, manufacturing and warehouse space.
Konover Construction Corp. has completed construction of a 41,000-square-foot, 12 theater cinema complex in the Westbrook Factory Stores Shopping Center, Westbrook. The theater development was a joint venture with Charter Oak Partners of Vein, Va. and O'Neil Theaters of Slidell, La.
EXCLUSIVE LISTINGS
North American Bank & Trust Co. has selected David Melillo of H. Pearce Co.'s North Haven Industrial/Commercial office as exclusive marketing agent for its 16,000-square-foot building at 240 Sargent Dr., New Haven. The 1.17-acre site, also known of 104 Food Terminal Plaza, includes a 2,000-square-foot interior loading dock. The site was previously used as a physical therapy/rehabilitation center.
Colliers Dow & Condon has been named exclusive broker for 800,000 square feet of industrial space and 90 acres of industrial lots in Bristol. The Bristol Business Center, formerly a General Motors plant, is located at 780 James Casey Road. The site can be subdivided into industrial zoned lots, with a minimum of five acres.
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