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The Property Exchange
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Business New Haven
10/20/1997
By: BNH
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Housatonic Community-Technical College in Bridgeport has won the grand prize in the 1997 Connecticut Real Estate Awards competition. Sponsored by the Real Estate Exchange in Hartford, the awards recognize real estate projects which have a positive impact on Connecticut and have overcome economic, geographic, bureaucratic or environmental obstacles. Other winners in the competition include: Residential Avalon Gates in Trumbull in the residential category; Walbro Automotive expansion in Meriden for industrial; T.A. Willington Travel Center in Willington for hospitality; the Mohegan Sun casino in Montville for community; and One Commercial Plaza in Hartford for office.
Sales
Robert Adnopoz, vice president of Beazley Co. Realtors, was sole broker in the sale of 415 Cherry Street in Wallingford to Lingol Corp. Lingol purchased the two-acre, 23,500-square-foot industrial facility for $500,000 from MultiPlastics Corp. Trust. The property will be used for plastics manufacturing.
4 Fairfield Boulevard Associates recently purchased a 45,000-square-foot office building at 4 Fairfield Boulevard in Wallingford for $2 million. Larry Levere of Kuzmak-Williams LLC represented the seller, Metropolitan Life Insurance Co.; 4 Fairfield Boulevard Associates represented itself.
Witten & Nolletti Real Estate Investment Services was sole broker in the sale of 3.8 acres at 64 Crescent Street in Norwalk. Sale price was $1.75 million. The property is a key terminal for the New Connecticut Limousine service of New Haven. The seller, Fleet National Bank, was represented by attorneys Brian Courtney, Mark Asmar and Tom Reagan of Brown, Rudnick, Freed & Gesmer of Hartford. The buyer, CLS-Norwalk LLC, was represented by the New Haven law firm of LoRicco & LoRicco.
CVS Corp. has sold 181 West Johnson Avenue in Cheshire for $9.8 million to Cheshire Distribution Center LLC. The 527,000-square-foot industrial building is located on 82.5 acres and was initially intended to be the headquarters and distribution center for Bob's Stores Inc. Hart Corp. and Sentry Commercial Real Estate represented the seller, and Select Investment Realty Advisors represented the buyer.
Oakdale Self-Storage has purchased a 29,400-square-foot warehouse at 64 South Turnpike Road, Wallingford. The building will be used by the company as a self-storage facility. Kevin Smith of H. Pearce Co., Realtors represented the seller, the Federal Deposit Insurance Corp. (FDIC), and Corrine Sorrentino of First Choice Realty Services represented the buyer.
Newington Commons was purchased by Taurus Investment Group, a Deerfield, Fla.-based real estate investment firm. Pioneer Newington Co., LLC sold the 190,427-square-foot retail center for $21.2 million. Tom Walsh, president of Lynch Murphy Walsh & Partners, and vice president Tyler Brown represented the seller.
77 Plains Road Milford LLC has sold 4.3 acres of land at 77 Plains Road, Milford to Milford Care, LLC, which intends to develop the site for a 107-unit assisted-living complex. John Bergin and Carl Russell, both of George J. Smith & Son Realtors, were the sole brokers involved in the transaction
Leases
Robert Adnopoz of Beazley Co. Realtors brokered the lease of 300 Long Beach Boulevard, Stratford to Digital Equipment Corp. The three-year lease with owners Stratford Executive Park is worth $100,000. Digital, whose headquarters are in Maynard, Mass., will use the space as a regional technical support office.
Times Fiber Communications Inc. has leased 144,125 square feet at 550 Research Parkway, Meriden. The new location is an expansion of its local operations. The 327,854-square-foot industrial building is owned by 550 Research Parkway Inc. Sentry Commercial Real Estate Services Inc., and Hart Corp. were the sole brokers in the transaction.
Creative Logistic Solutions (CLS) has leased 15,000 square feet at 52 Richard Street in West Haven. David Roetting of H. Pearce Co., Realtors' North Haven commercial office represented the landlord, J.S.L. Associates Inc., and Michael Wendel of M.F. DiScala & Co. Inc. represented the tenant.
On the Rocks Liquor Store has leased 2,025 square feet at 1385 New Haven Avenue in Milford. Norman Lotstein, of Pyramid Real Estate, represented the tenant and the landlord.
Shaw's Supermarket Inc. has leased 12,221 square feet of space at 111 Black Rock Turnpike, Fairfield. Brian Dornan of Pyramid Real Estate represented the landlord in the transaction. Terms of the deal were not released.
Exclusive Listings
Farley Whittier Partners has been appointed the exclusive sales representative for 240 Sargent Drive, New Haven, a 30,000-square-foot light industrial building, and for 190 Frontage Road, West Haven, a 130,000-square-foot light industrial/distribution building.
Sentry Commercial Real Estate has been named exclusive agent for 51 Hood Terrace, West Haven. The 6,000-square-foot industrial building is sited on 0.35 acres of land and is available for sale or lease. The property is owned by Erwin Levine.
Relocations & Expansions
H. Pearce Co., Realtors has leased 2,000 square feet of office space at 2 North Main Street, Wallingford. The company will use the space for its residential branch and relocation division offices, previously located on State Street in North Haven. The desire to expand marketing territories and the need for additional space prompted the move. The company plans to take occupancy in October.
Regent Retirement Planning Inc., a financial firm that focuses on estate and retirement planning, will relocate from North Haven to a 1,500-square-foot space in the Woodbridge Office Park in Woodbridge. The new building, constructed by Schaefer Construction, will be ready for occupancy in October. J. Paul Terrace, owner of Accentrix in New Haven, designed the floor plan and will furnish the interior.
Masonicare has announced plans to expand its continuum of care with the addition of assisted-living facilities and independent living apartments at three of its campuses. In different stages of progress, the projects include a 62-unit assisted-living residence at Ashlar Village in Wallingford, a 48-unit assisted-living facility at Ashlar of Newtown, and 42 independent apartments at Masonic Geriatric Healthcare Center in Wallingford. Masonic also plans to replace its existing 86-unit residential care home at the Geriatric Center. Total square footage of the projects exceeds 200,000. All three facilities are expected to open in fall 1998.
Company News
Prudential Connecticut Realty, in collaboration with the National Association of Secondary Schools (NASSP), will sponsor the 1997-1998 Prudential Spirit of Community Awards to recognize outstanding middle- and high-school students throughout the U.S. and Canada. Children between ages 11 and 18 are eligible, and winners are selected based on community service. Applications have been sent to schools, but additional applications can be obtained at the Prudential Realty office at 203-245-3100.
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