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Real Estate
The Property Exchange
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Business New Haven
9/15/2003
By: BNH
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NEWS
Barrie Booters To Close Doors
NEW HAVEN - Barrie Ltd. Booters, a Broadway retail fixture for nearly seven decades at 268 York Street, will close its doors for good at year’s end following an insurmountable dispute with its landlord, Yale University Properties. The company’s West Hartford store will also close. According to store president Barry Isaacs, Yale’s lease terms included a 70-percent rent increase, a maximum five-year term and an hours-of-operations clause mandating the store to remain open six nights plus Sundays each week with just four holidays annually. The company says it will run a liquidation sale over the next several months. Barrie Vice President John Isaacs was a prominent opponent of the Long Wharf mall proposal, a battle his side eventually won. Not this one, however.
Press Named Top Realtor
HAMDEN -Stephen Press, CRB, CRS, GRI, a partner in Press/Cuozzo Realtors, has been named Realtor of the Year by the Greater New Haven Association of Realtors. A Realtor since 1977, Press served as president of the Greater New Haven Association of Realtors in 1992. He presently sits on the group’s risk-reduction committee and is one of the association’s standards-mediation officers. As a member of the Commercial Industrial Division of the Realtors group Press has earned numerous "Deal of the Year" awards. He also sits on the board of directors of the New Haven Real Estate Educational Foundation.
Plaudits for Pru Prez
STAMFORD — Peter G. Helie, president and CEO of Prudential Connecticut Realty, has earned the Prudential Community Champions Rising Star award for his work with the Boys & Girls Club of Stamford. Helie has been a director of the organization for more than a decade, and served as its president. "Community service is a strong part of Prudential Connecticut Realty’s culture," Helie said. His company donated $250 to the Stamford club in Helie’s name.
MidState Opens in Plantsville
SOUTHINGTON - MidState Medical Center has opened Southington Medical Offices at 991 South Main Street, Plantsville. The expansion project, known as Pavilion D, houses 28 inpatient private rooms, an expanded Digestive Health Center, physician offices and a proposed Wound Care Center. Phase II of the project includes an expansion of Emergency Services, two additional operating rooms and a relocation of laboratory services. The hospital planned to open Pavilion D in September.
SALES
Shopping Center Sold
NEW HAVEN - The Amity Plaza Shopping Center at 59-61 Amity Road and 1522 Whalley Avenue has sold for $1.95 million to Kwang H. Maeng. The 27,000-square-foot shopping center was purchased from R&R Realty. Glen Greenberg and Bill Silverman of Levey Miller Maretz Realtors brokered the transaction.
Manchester Apts. Fetch $5M
MANCHESTER -The Ivy Manor Apartments at 167 East Center Street have been sold by Ivy Manor Associates to Taymil Ivy Manor, LLC for $5,150,000. The property houses 72 residential units near the I-84/I-384 connector. Steve Witten and Victor Nolletti of Marcus & Millichap Investment Real Estate Services were sole brokers in the transaction.
Industrial Bldg. Changes Hands
NEW HAVEN — A 16,500-square-foot industrial building at 27 Fulton Street has been sold to Lakota Properties, LLC, which plans to subdivide into light industrial spaces for leasing. P.M.&E. was the seller. Bill Silverman of Levey Miller Maretz was sole broker in the transaction.
Industrial/Flex Condos Sold
WALLINGFORD - Joel M. Nesson of Press/Cuozzo Realtors was sole broker in the sale of a group of five fully tenanted industrial/flex condominiums at 29 North Plains Highway to Bull’s Head Venture, LLC for $405,000. The seller was North Plains Highway, LLC. The transaction closed July 22.
Carpet Store Planned for Parcel
BRANFORD -Marc Capital has sold 145 North Main Street to 145 North Main Street Branford, LLC for $400,000. The property encompasses two-plus acres with a single-family house, which the new owners plan to raze to make room for a new 8,000-square-foot building that will be the home of Grand Carpet. Craig Fuchs of H. Pearce Co., Realtors represented the buyer, while Frank Hird of OR&L Commercial represented the seller.
Forty Acres, No Mule
OXFORD - A 40-acre land parcel fronting Hurley Road, Airport Access Road and Donovan Road has been sold to Third Garden Park Limited Partnership. The seller was Oxford Property Holdings, LLC. Joel M. Nesson of Press/Cuozzo Realtors was sole broker in the transaction. The 40-acre tract is part of a larger parcel, and Nesson continues to market the 23 remaining acres.
LEASES
Land Trust Lands Lease
NEW HAVEN -The Trust for Public Land has entered into a five-year lease for office space at 101 Whitney Avenue. The tenant was represented by Stephen Press of Press/Cuozzo Realtors, while Levey Miller Maretz broker Bill Silverman representing the building’s owner, Flag Building LLC. Lease value is $125,000, plus options.
Manufacturer Leases in Guilford
GUILFORD - Defibtech, a manufacturer of Automatic External Defibrillators (AEDs), has signed a five-year lease on a 3,400-square-foot office space at 753 Boston Post Road, which will house the company’s corporate offices and R&D department. AEDs are used to administer an electric shock to a person undergoing cardiac arrest. The property owner is Provident Concept 753, LLC. Frank Hird and Jeff Kravet of OR&L Commercial brokered the transaction.
$3M Lease in Old Lyme
OLD LYME — Kendle International has leased 24,140 square feet of office space at 55 Hatchetts Hill Road from Eastport, LLC. The long-term lease has a total value of $2.8 million. Nicholas R. Morizio, SIOR, CRE of Colliers Dow and Condon represented both parties in the transaction.
Two Tenants for New Complex
KILLINGWORTH -Kristin T. Geenty, COO of the Geenty Group, Realtors, reports the lease of units at the Courtyard, a newly constructed office/retail complex in Killingworth owned by D’Amato-Killingworth, LLC. Proactive Sales & Marketing, LLC, a sporting goods wholesaler, leased a two-unit office suite of 1,786 square feet. Physicians Clark and Monahan of the Killingworth Counseling Center also eased a 450-square-foot office suite.
William N. Clark, senior vice president of the Geenty Group, was listing agent for both transactions. Kevin C. Geenty, SIOR, president of the Geenty Group, brokered the 450-square-foot lease.
EXCLUSIVE LISTINGS
Med Building Listed
OLD SAYBROOK - The medical/professional office complex at 215 Elm Street has been listed for sale (asking price $795,000) or lease. Just off Exit 67 of I-95, the facility is leasing for $13 NNN or is offered for sale with full approvals. Tim McMahon and Richard Gold of OR&L Commercial in Branford have the listing.
CONSTRUCTION
Printer Picks Borghesi
TRUMBULL - Borghesi Building and Engineering Co. Inc. of Torrington has been hired by the Norwalk-based Preferred Printing as the design/build contractor for Preferred Printing’s new 18,000-square-foot headquarters and production facility planned for Trumbull.
OR&L Pens Three Contracts
BRANFORD -OR&L Construction has been awarded three construction contracts: At Yale University, OR&L will renovate the Health Services business office on Whitney Avenue in New Haven. The company will perform lobby renovations and tenant improvements for the Great American Insurance Co. at 148 Eastern Boulevard, Glastonbury. Also, OR&L will undertake interior renovations to the Branford office of Alliance Energy at 36 Park Drive East. With offices in Branford and Rocky Hill, OR&L Construction performs general contracting, construction management and design/build services to clients in the medical/biomedical, high-tech manufacturing and education industries.
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