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The Property Exchange
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Business New Haven
3/17/2003
By: BNH
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Dresser Will Close in Shelton
SHELTON - Dresser Instruments says it will close up shop at 2 Research Drive just 18 months after moving here. The company says the facility's 95 employees will be transferred to the company's larger Stratford plant throughout the spring. Dresser leased the Shelton plant in August 2001 to consolidate offices in Milford and Newtown. A division of Dresser Inc. of Dallas, Dresser Instruments makes gauges, thermometers and other measurement instruments for industrial applications.
CONSTRUCTION
Alinabal Adding On
MILFORD - Alinabal Inc. will construct a 17,000-square-foot addition to its existing facility at 28 Woodmont Road for use as production space. Alinabal produces rod ends, spherical bearings, linkage assemblies and other screw-machine products as well as stampings, complex mechanical assemblies and custom components including shock-absorber valving. Borghesi Building & Engineering Co. of Torrington has been hired as contractor on the project.
Borghesi, By a Nose
MILFORD - Borghesi Building & Engineering Co. has likewise been selected by Carrubba Inc., which creates custom fragrances, flavors, botanical extracts and natural deodorants to build a 3,200-square-foot building expansion to its existing facility at 70 Research Drive. Ground will be broken on the project this spring.
SALES
Ryder Park Sale Finalized
MILFORD - Ryder Trailer Park has been sold to Fairfield shopping center developer Louis Ceruzzi for $20 million. Included in the transaction were the 50-acre Ryder site, 50 additional acres on Cascade Boulevard and a small shopping center on Roses Mill Road. The transaction was brokered by DeForest W. Smith, CCIM, SIOR, president of George J. Smith & Son Commercial & Investment Real Estate.
As part of the complex sale, officially finalized February 27, the new owner worked with nearly 200 trailer-park tenants who, as part of this agreement, may relocate to what the developer describes as a "new and improved" setting on the Cascade Boulevard site near the Orange town line.
Environmental Firm Buys in Bridgeport
BRIDGEPORT - Connecticut Tank Removal has purchased a 50,000-square-foot building at 118 Burr Court. Connecticut Tank Removal is a full service environmental contractor established in 1994. David S. Gorbach, SIOR, of Colonial Realty represented both the seller and the purchaser.
Sale Paves Way for Adult Community
NORTH HAVEN - Stonehill Ridge, LLC has purchased four parcels totaling 4.57 acres at 124, 126, 128 and 138 State Street, North Haven for $620,000. Ground is scheduled to be broken soon at the site on Stonehill Estates, a 41-unit 55-and-over adult community. Phase I townhouses and ranch-style units will begin at 184,900. Roberta Palmeri, CRS, ABR of Press/Cuozzo Realtors represented the buyer and helped to steer the project through the approval process. Sellers of 124 and 126 State Street were David and Laura Luppi, while Dante and Daniel Carboni sold 128 and 138 State Street. The Carbonis were represented by Bernie Diana of Levey Miller Maretz.
Vernon Apartments Sold
VERNON - Fox Hill Commons Apartments at 101 South Street has been sold by Foxwoodburg Associates, LLC to Taymil Vernon Portfolio, LLC for $4.7 million. The 74-unit garden-style apartment complex, built in 1965 and renovated in 1986, sits on 5.5 acres. Steve Witten and Victor Nolletti of Marcus & Millichap Investment Real Estate Services in New Haven were sole brokers in the transaction.
Former Lenders HQ Sold
WEST HAVEN - 2 M Island Partners purchased a 28,560-square-foot office/flex building at 450 Island Lane. This sub-dividable building, which had housed the headquarters of Lenders Bagels, is available for lease. David S. Gorbach, SIOR of Colonial Realty represented the purchaser; Mark Glassman of Arnold Peck Realty represented the seller.
Admail Buys on Kent Drive
MILFORD - Admail purchased an 11,000-square-foot manufacturing facility at 11 Kent Drive. Admail is a full service mail fulfillment operation formerly located in Stratford, Connecticut. David S. Gorbach, SIOR, of Colonial Realty represented both the seller and the purchaser.
Black Rock Building Sold
FAIRFIELD - Ury & Moskow, LLC purchased a 9,000-square-foot building at 883 Black Rock Turnpike, Fairfield. Ury & Moskow relocated from Westport. The law firm specializes in real estate, personal injury, medical malpractice, pharmaceutical and commercial litigation. Colonial Realty's David S. Gorbach represented the seller in the transaction, while David Fugitt of Hastings Real Estate represented the purchaser.
Fairfield Lot Sold
FAIRFIELD - AGL Properties, LLC has purchased a four-acre parcel of land at 5401 Park Avenue, Fairfield. David S. Gorbach of Colonial Realty represented AGL in this transaction.
LEASES
Tenant for Railroad Ave.
WEST HAVEN - NCM Inc. has leased 12,000 square feet of office/manufacturing space at 32 Railroad Avenue. Colonial Realty's David S. Gorbach represented both the landlord and the tenant in this transaction.
APS Leases at Barnes Ind. Park
WALLINGFORD - American Payment Systems (APS), a subsidiary of UIL Holdings Corp., has signed a long-term lease for 42,454 square feet of space at 15 Sterling Drive in Barnes Industrial Park. Winstanley Enterprises recently purchased the property from GKN Westland Aerospace Inc. for $5 million. The building is a one-story flex building with 131,666 feet of available space. Christopher O'Hara and Robert W. Ludwig Jr. of Coldwell Banker Commercial NRT represented APS in the transaction.
EXCLUSIVE LISTINGS
Starter Bldg. Listed
NEW HAVEN - The CB Richard Ellis New Haven brokerage team of Timothy Fegan, Steven Inglese and Matthew O'Hare have been named exclusive listing agents for 370 James Street, the former world headquarters of Starter Corp. Owned by the Acorn Group, the facility was constructed in 1915 and renovated in 1984. It features an on-site security staff and surface parking. Fiber-optic ready, the 184,000-square-foot building offers 146,793 available square feet of office space, subdividable to 4,000 square feet. The building can be used as office or light industrial space and is located in a federal Empowerment Zone offering potential tax abatements to qualified tenants.
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