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The Property Exchange
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Business New Haven
2/17/2003
By: BNH
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NEWS
'B' as in Billion (and in Beazley)
NEW HAVEN - The Beazley Co. has topped the billion-dollar sales mark, achieving a record-breaking $1,020,000,000 in sales volume for 2002. According to Beazley President Greg Scott, the company experienced across-the-board increases in sales, sales volume and average sale price. The $1,020,000,000 aggregate volume represents a ten-percent increase in sales over 2001. The company's average sale price rose 12 percent, while unit sales showed a slight increase over 2001.
Scott says he is optimistic that the Connecticut housing market will not experience a "bubble" burst. "All the cuts the [Federal Reserve] has made in the interest rates, combined with the state's low unemployment rate and low inventory of homes has been a driving force in maintaining a strong demand for homes," Scott said.
SALES
Colonial Announces Five Sales
Colonial Realty of Fairfield has recently brokered the sale of five area buildings totaling in excess of 255,000 square feet:
o Industrial Land Management, LLC has purchased a 79,420-square-foot facility on 28 acres at 211 Brookside Road, Waterbury. The building will be used for the manufacture of containers.
o KX Industries recently bought a 65,000-square-foot office and manufacturing facility at 55 Railroad Avenue, West Haven.
o Vernier Inc. has purchased a 53,650-square-foot building on 12 acres at 26 Progress Avenue, Seymour. The acquisition reflects Vernier's expanded operational needs.
o A 33,000-square-foot warehouse facility at 95 River Street, Bridgeport has been bought by CRI Sales. The purchase increases CRI's presence in the area to 66,000 square feet.
o R. Philips has purchased a 24,000-square-foot building at 360 Sniffens Lane, Stratford.
Route 1 Retail Space Sells for $1.55M
NORWALK - Dan Marine, LLC has purchased 330 Westport Avenue for $1,550,000, a multi-purpose retail space on Route 1 whose existing tenants include Subway and Choice Pet Foods. There is currently approximately 10,500 feet of space available for lease at the property. Sole broker in the sale as well as listing agent is Mark J. Brockwell of MJB Real Estate Services' Westport office.
New Home for Gourmet Food Biz
NEW BRITAIN - Dean and Daniel Spilka have purchased a 25,600-square-foot industrial building at 30 Peter Court, New Britain, for $750,000. The brothers will operate their family business, Norpaco Gourmet Foods, from the new location. Colliers, Dow & Condon was sole broker in the trabsaction.
LEASES
HAMDEN - STS Associates, a benefit and compensation consulting firm, has leased 3,350 square feet of a freestanding 6,200-square-foot office building in Hamden Center II, 2889 Dixwell Avenue. Sole broker was Press Cuozzo Realtors' Al Scafati, who is exclusive marketing agent for the 105,000-square-foot Hamden Center II.
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