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The Property Exchange
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Business New Haven
12/14/1998
By: BNH
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SALES
The New Haven Leather Co. building at 254 State Street in the Ninth Square neighborhood of New Haven was sold to Mark Potter by Joseph and Carole Mongillo for use as a private art and sculpture studio. Attorney Fred Sette represented the seller and Louis Pacelli the buyer. Joel Nesson of Press Cuozzo was sole broker in the transaction.
A 250,000-square-foot building at 129 Worthington Ridge, Berlin was sold by Moog Automotive to an investor, 129 Worthington Ridge LLC, for $4.6 million. CB Richard Ellis' Robert Daglio and William Bronsor Jr. were brokers in the transaction.
513 Main Street, a three-acre site in the Yalesville section of Wallingford, was sold to Joseph Monazzi by Peter Mesturini, et al. Sale price was approximately $50,000 per acre. Albert Scafati acted as listing broker and Joel Nesson represented the buyer. Both brokers are with Press/Cuozzo.
Four contiguous industrial condominiums, totaling 12,000 square feet at 65 North Plains Industrial Road, Prestige Park, in Wallingford have been sold by Phoenix Color Corp., Maryland for $279,680 to Staban Engineering Corp. of Wallingford. The seller was represented by attorney Gary Sklaver of Ullman, Perlmutter & Sklaver, New Haven. The buyer's attorney was Robert Reagan. Albert Scafati of Press/Cuozzo was exclusive marketing agent for the units and the sole broker in the transaction.
LEASES
Infra Metals Co. of Georgia has leased a 6.8-acre industrial site at 35 Pent Highway, Wallingford from Danberg Trust. The initial ten-year lease term is in excess of $250,000 and includes an option to purchase the property. Albert Scafati of Press/Cuozzo was sole broker in the transaction.
Godiva Chocolatier Inc., a wholly owned subsidiary of the Campbell's Soup Co., has signed a ten-year lease for 4,000 square feet in the Old Saybrook Business Park. Godiva will use the space as a mail-order customer service branch. Peter Van Strum of Colliers Dow & Condon in Hartford represented Godiva. Kevin Geenty of the Geenty Group, Branford represented Mill Meadow Development, the landlord.
Business & Legal Reports Inc., of Madison, has leased 75,000 square feet for a 20-year term at the Old Saybrook Business Park. A $3.8 million renovation is underway, with occupancy planned for May 1999. Sole broker in the transaction was Kevin Geenty of the Geenty Group, Branford. The aggregate value of the two above leases is in excess of $16 million.
EXCLUSIVE
The United Illuminating Co. has appointed CB Richard Ellis exclusive subleasing agent for 4,612 square feet at 129 Church Street, New Haven. The space will be available for retail or office use.
OR&L Realtors has been named exclusive leasing agent for 600 Saw Mill Road, West Haven, an 11,000-square-foot section of the 35,000-square-foot Class A office building.
Press/Cuozzo Realtors has been appointed exclusive agent for a 3,500-square-foot site in the Home Depot Plaza at 440 Boston Post Road, Orange.
NEWS
Mill Meadow Development partners Gregory Cook and Kevin Geenty have announced construction of a new 20,000-square-foot multi-tenanted “mid-tech” builiding at 20 Research Parkway in the Old Saybrook Business Park.
HRP Associates has been awarded a contract by the town of Westport to evaluate environmental compliance of the petroleum underground storage tanks owned by the town.
State Cites Interest In Fairfield Hills Property
According to press releases from the state of Connecticut, it has received more than 200 inquiries from across the country in the vacant Fairfield Hills property in Newtown. Fairfield Hills is a former mental-health facility and incorporates more than 16 major buildings and one million square feet on 185 acres. Said Richard Nuclo, director of assets management for the state's Office of Policy & Management, “We are particularly pleased with the number of responses from what we consider major developers and end-users from over 20 states.” Deadline for submission of qualifications is January 11, 1999.
PEOPLE
Frank M. Micali, of C.A. White has been awarded the Certified Commercial Investment Member (CCIM) designation by the Commercial Investment Real Estate Institute. Micali is the past chairman of the Comercial Investment Division of the New Haven County Real Estate Board and a founding member of the Downtown Broker's Committee for a Better New Haven.
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