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The Property Exchange
NEWS
The New Haven Real Estate School will conduct an Appraisal I class from 6-9 p.m. Tuesdays and Thursdays from April 27-May 20. Instructor is Joseph Waple, certified residential appraiser. Tuition and book is $229.
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Business New Haven
4/19/1999
By: BNH
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Cushman & Wakefield has introduced a new logo and branding message. The new logo is the symbol the firm previously used to “co-brand” with its six global partners. The globe-like icon appears with a skyline atop. Cushman & Wakefield's new brand image follows by only a few months its merger with the 178-year-old London-based Healey & Baker. This partnership will continue to provide real estate services for C&W's clients throughout Europe, the Middle East, Africa and Australia.
State Farm Fire & Casualty Co. has announced that it is implementing an average rate increase of 11.9 percent for its Connecticut homeowners-insurance policyholders. The new rates took effect January 1 for policyholders new to Connecticut and March 1 for current customers. According to State Farm, coverage limits were increased to keep pace with rising construction costs, also contributing to higher premiums. State Farm does not currently market insurance in Connecticut but continues to cover those who move to Connecticut. The company plans to begin active sales in the state next year.
Borghesi Building & Engineering Co. Inc. of Torrington was the recent recipient of three awards at the Butler Building National Sales Meeting in Orlando Fla. The awards were for No. 1 volume building for the Northeast region 1998; high performance building for 1998; and 25 years of Butler Building.
Karen Namnoum has joined OR&L of Branford as the company's new construction marketing manager. Namnoum will be responsible for developing and maintaining relations with clients and prospects as well as designing creative and innovative methods of promotion for OR&L, and providing support for the OR&L project management team.
SALES
The Geenty Group Realtors of Branford has sold 251 Morgan Lane, West Haven. The 213,000-square-foot facility on ten acres is net-leased to the Sikorsky division of United Technologies Corp. The property sold for $5,230,00 to a New York investor/developer. The seller was G.F.R.I. Ltd. Partnership of Louisville, Ky. The buyer was represented by Arthur J. Ross of the Hart Corp.'s New England/New York division, located in Avon.
H. Pearce Co., Realtors has announced that Project More has purchased a 37,000-square-foot office building at 830 Grand Avenue, New Haven. The facility will be utilized as the company's main offices as well as for meeting and classroom space. Project More is a non-profit community organization for criminal justice. Pearce's Paul Roy represented both the buyer and the seller, New Haven Saving Bank. Sale price was $640,000.
Bass Inc. has purchased the 11,000-square-foot Medical Center building at 100 Broadway, North Haven. The building will be renovated for multi-tenant professional office space. Craig Fuchs of H. Pearce Co.'s North Haven Industrial/Commercial office represented the seller, MWH Corp. Susan Candido of Beazley Co., Hamden, represented the buyer.
LEASES
Commercial Union Insurance Cos., the U.S. subsidiary of Commercial Union, has signed a ten-year lease for 23,000 square feet of Class A office space at 440 Wheeler's Farm Road Complex, Milford. Albert Scafati, leasing agent of Press/Cuozzo Realtors, represented Commercial Union in the transaction, which is the largest office lease this year to date in New Haven County. Michael Siegel of Insignia/ESG is leasing agent for Merritt Crossing.
Eastern Rehabilitation Network of Hartford has leased 7,538 square feet at 127 Washington Ave., North Haven. ERN built out this space for its physical-therapy practice and Eastern Occupational Medicine Network office. The company acquired the practices from Veterans Memorial Medical Center and relocated from 100 Broadway, North Haven, in January. Craig Fuchs of H. Pearce Co. represented ERN, while Connecticut Corporate Properties represented the landlord, Candid Group, LLC.
Pyramid Real Estate & Management Co. has announced that Lambert Associates has leased 1,353 square feet of space at Heritage Square, 1700 Post Road, Fairfield. Brian Dornan represented the tenant and landlords in the transaction. In other transactions, the company reported that Thomas J. Dryden Partners, LLC has leased 3,000 square feet at Old Norwalk City Hall, Norwalk Museum Building, 41 North Main Street, Norwalk. Cordon Clark and Brian Dornan represented both tenant and landlord in the transaction. The building is listed on the National Register of Historic Places.
Appleby Development Corp. has extended its lease for 668 square feet at 100 Melrose Avenue, Greenwich. Bruce W. Sheldon of Pyramid Real Estate & Management Co. represented the landlord, Avon Investment Co. Alan Murphy of New England Land Co. represented Appleby. Pyramid also announce that Westport Bicycles has leased 3,5000 square feet at Turkey Hill Shopping Center, 1252 Post Road East, Westport. Brian Dornan represented both tenant and landlord. PPC Books Ltd. has leased 550 square feet at 335 Post Road West, Westport. Bruce W. Sheldon represented both the landlord, Joan & Michael Gray, LLC, and the tenant.
CONSTRUCTION
Borghesi Building & Engineering Co. Inc. of Torrington has been awarded a contract to design, engineer and construct Office Works Inc. a new 88,100-square-foot facility on Corporate Avenue in the Corporate Technology Park, Plainville. Office Works Inc. is an authorized distributor for Toshiba America Information Systems, providing sales and service of Toshiba copying, printing and facsimile systems.
Archives Management Inc. has finalized plans to construct a 40,000-square-foot addition to its Watertown records center. Borghese Building & Engineering will be the general contractor. The $1.30 million addition will bring the company's storage capacity to 90,000 square feet.
Anderson-Wilcox Corp. has been selected to manage construction of the Gardenside Terrace Assisted Living Community in Branford. The 110-apartment, 94,000-square-foot facility, designed by Atelier Associates of Waterbury, is sited on 19 acres adjacent to Branford Hill Health Care Center on Alps Road.
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