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The Property Exchange
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Business New Haven
7/8/2002
By: BNH
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NEWS
Banknorth launches online mortgage Web site
Banknorth Group, Inc. (NASDAQ: BKNG), the parent company of Banknorth Connecticut announced it has launched a Web site that enables customers to apply for a mortgage loan online, monitor mortgage rates, contact a loan officer in the area, and access an in-depth online mortgage resource center to help answer questions.
Located at www.BanknorthMortgage.com the online application will streamline the application process for customers. An online visitor can complete an application to refinance an existing loan or purchase a home in about 20 minutes. In addition, online users have access to mortgage calculators, an e-mail Rate Watch service and other research components. “Whether home buyers use the site as a source of information or to apply online, we give them a number of choices, plus the resources to learn all they can before applying,” says Richard W. Allen, a senior vice president in Banknorth's Residential Lending Department.
Beazley honors top producers
NEW HAVEN - Beazley Company announced that Linda Acevedo of Beazley's East Haven office has been named New Salesperson of the Year for 2001. She achieved the highest sales production of all new agents during her first 12 months with the company. Acevedo, a Branford resident, joined Beazley in January 2001 earning membership in Beazley's Executive Club.
Beazley also announced that Edward Smeriglio of Woodbridge has been named New Homes Salesperson of the Year for 2001. This is the sixth year he has achieved the honor. Gregg Wagner, manager of Beazley's Commercial Investment Division announced that Ray Starzyk was named CID Salesperson of the Year. Both Smeriglio and Starzyk were added to the Founders Club of top sales producers. Starzyk specializes in commercial properties in Hamden and Branford.
West Haven's Nike Site Park to get a facelift
WEST HAVEN - Luchs Consulting Engineers of West Haven and New Britain have been retained by the City of West Haven to prepare a Master Plan for enhanced recreation activities at the former Nike Missile Site on Bull Hill Lane. Potential elements in the plan include football fields, skatepark and a playground. According to Alan Olenich, executive assistant to the Mayor of West Haven, the site currently houses some basketball courts and a picnic area. “The site is designated for recreational purposes and was never fully utilized,” he said, “A multipurpose field, skateboard park and additional parking would work well.” Although still in the planning and design phase Olenich estimates that construction could begin this year.
LEASES
Griffin Land announced that Pitney Bowes Management Services, a wholly owned subsidiary of Pitney Bowes, Inc. has entered into a 57,190 square-foot industrial lease at 25 International Drive, Windsor. It is anticipated that the site will be used for an additional mail print and distribution facility for new contracts. Located within the New England Tradeport, a 600-acre industrial park adjacent to Bradley International Airport, the facility was planned as a speculative multi-tenant warehouse/manufacturing facility. Griffin Land, the owner, developer and construction manager for the site began speculative construction in June 2001. Pitney Bowes should be moving into the space this month. Griffin Land is planning its next speculative project (a 100,000 square foot warehouse facility) within the New England Tradeport.
Stephen Press of Press/Cuozzo represented Burger King Corporation on a 20-year, plus options ground lease. The original term is valued in excess of $1,700,000. The new facility is located on the former Liquor Land site at 2197 Dixwell Avenue, Hamden. Vincent Engingro of Select Sites represented the owner, M.B.C. Associates. Press noted that the location is directly across from the Hamden Plaza on Hamden's “Magic Mile” where the retail landscape is changing drastically. “Wal-Mart is filling the vacancy created by Bradlees closing in the Hamden Mart, Brooks Drug is building a new facility at the former Staples site.” he added. In addition the former Red Lobster and Olive Garden Restaurant buildings are being demolished and will be replaced with 24,000 square-foot Bed Bath and Beyond and a 11,000 square-foot CVS.
MJB Real Estate Services closed two retail leases at 982-984 West Main Street, New Britain. Chase Commercial represented Ace Beauty Supply who leased 2,500 square feet of space for their wholesale and retail beauty supply business. Curves for Women, a fitness facility, represented by Jeff Lewis Associates, leased 2,000 square feet. Both companies signed 3 - 5 year leases. MJB represented the landlord, Reno Properties in both transactions.
SALES
Marcus & Millichap Investment Real Estate Services of New Haven announced the sale of Foxon Woods Apartments in East Haven for $3,700,000. Located at 32 Old Foxon Road, the complex contains 78 one-bedroom apartment units. The residential rental property is comprised of two structures built in 1971 and 1987 and was renovated in 1998. Ansonia Acquisitions III, LLC sold the property to Gere Sampere. In addition, Marcus & Millichap also sold Woodbury Knoll Apartments in Woodbury for $5,425,000. Located in the foothills of Litchfield County, Marcus & Millichap's senior director of national multi-housing, Steve Witten, says, “The property is in a supply constrained market with significant barriers to entry and new construction.” The 11-building complex with a total of 106 apartment units has recently been renovated.
Albert Scafati announced the sale of 63 North Plains Industrial Road, Wallingford. The 22,000 square-foot building, constructed in 1987 has been used as a multi-tenanted property. Set on 1.7 acres, the property sold for $670,000. The new owners, Colonial Business Forms, Inc., currently in North Haven, will occupy the available 9,000 square-feet to expand their operations. “The additional space also provides opportunities for future growth,” said Scafati. Other tenants include insurance and technology companies. Scafati also closed on 55 Pent Highway, a 35,000 s/f high bay industrial building.
CONSTRUCTION
FIP Construction, Inc. announced their selection to provide construction oversight and planning services for the Mid-State Medical Center at 435 Lewis Avenue, Meriden. The 236,900 square-foot facility will be expanded by an additional 45,800 square-feet. The expansion allows for additional patient rooms, physician offices, operating rooms and an expanded emergency department and administrative space. The new building will include two additional floors connected by a second-level bridge. Site work will include relocation of the existing detention basin and creation of 150 parking spaces. Completion is scheduled for late fall 2003.
The Clarice L. Buckman Center at Quinnipiac University in Hamden is the site of exterior renovations to be managed by FIP Construction, Inc. The 35,000 square-foot center will undergo exterior masonry renovations. In addition, FIP was retained to provide construction management and administration services for Radio Frequency Systems, 200 Pond View Road, Meriden. The project includes various renovations and fit-out of a new 126,000 square-foot building located in Medway Business Park. The facility accommodates the design, manufacturing and distribution of high-quality radio frequency antenna systems.
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