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The Property Exchange
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Business New Haven
12/22/2003
By: BNH
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CD&C Opens Elm City Office
NEW HAVEN - Colliers Dow & Condon has opened an office at 431 Orange Street. Frederick P. Petrella, CCIM and Peter Shiue will head the new office. According to Petrella, "The addition of a New Haven office allows us to provide a higher level of local service and offer services worldwide through any one of our Colliers offices in 51 countries on six continents." Colliers Dow & Condon offers commercial brokerage, advisory and property management services.
Ground Broken for Yale Engineering Bldg.
NEW HAVEN - Yale President Richard C. Levin presided over a groundbreaking ceremony for the new Yale Engineering Research Building on December 11 at the corner of Prospect and Trumbull Streets. Biomedical engineering has been an interdisciplinary program at the undergraduate and graduate levels since 1998. The Department of Biomedical Engineering was instituted in July 2003. Designed by Cesar Pelli & Associates, the building will house laboratory and research facilities for biomedical engineering, Yale's newest department.
Future Target Site Sold
ORANGE - Michael Richitelli of Colonial Properties announced the sale of the 14-acre site at 25 Boston Post Road, Orange, to Starwood Ceruzzi, LLC, which owns the adjoining Best Buy Plaza. The parcel, which sold for $2.75 million, has been approved by the Orange PZC for a 125,000-square-foot Target store.
Stratford Bldg. Fetches $2M+
STRATFORD - Wittek Development has purchased a 63,630-square-foot building at 160 Avon Street, Stratford for $2.36 million. Wittek Development is a regional development company that specializes in commercial real estate in the Northeast; it plans to divide the space to suit. David S. Gorbach, SIOR and Joel Hausman of Colonial Realty of Fairfield, along with co-broker Scott Benson of Benson Commercial Realty of Westchester, N.Y. were the brokers.
Tenant Buys Washington Ave. Property
NORTH HAVEN - A 28,000-square-foot light industrial building at 441 Washington Avenue has been sold to Interplex Technologies Corp. by the Joseph Labov Limited Partnership. Interplex, which creates printed circuit-board assemblies, occupies half the property; the remainder houses Connecticut Direct Mail. Carl Russell, CCIM, SIOR of George J Smith & Son and Lynn Weed of Weed Realtors represented the seller, while the buyer was represented by Nick Saldanka of the Beazley Co.
Avon Shopping Center Changes Hands
AVON - Willowbrook Associates has sold a 9,050 shopping center at 304 West Main Street, Avon to BZHK. Tenants include Farzinzad Antique Rugs, Avon Paint & Wallpaper and the Tuxedo Place. Carl G. Russell, CCIM, SIOR of George J. Smith & Son represented both parties in the transaction.
Norwalk Apts. Sold
NORWALK - TKM Properties, LLC has sold the Woodward Apartments, 93 & 97 Woodward Avenue, to TC & WC, LLC, for $1.4 million. The property encompasses 12 units in two buildings near Norwalk's SoNo district. Gary Witten of Marcus & Millichap represented the sellers, while the same firm's Edward Jordan represented the buyers in the transaction.
CONSTRUCTION
Borghesi To Construct Warehouse
MILFORD - Borghesi Building & Engineering Co. of Torrington has been awarded a contract to construct a 5,000-square-foot building shell for developer Errol Van Hise at 528 & 544 Boston Post Road, Milford. The structure will be the warehouse for Carpet & Tile by the Mile in the nearby Courtyard Center.
Konover Upgrades Region 4 Schools
DEEP RIVER - Construction is underway at two Region 4 schools to modernize the facilities and enhance their safety and efficiency. Konover Construction Corp., general contractor for renovations at Valley Regional High School and John Winthrop Junior High School, began work on the 1950- and 1970-built schools this summer. The company plans to complete the $17 million high school project and the $12 million junior high school project by September 2005. Each will receive code upgrades to the mechanical and electrical systems. Fire-safety systems will be modernized with new fire reserve tanks, updated sprinklers and new fire alarms. Other improvements include new high-end windows, new interior paint, flooring and chalkboards. Two additions to the 131,000-square-foot high school will house a new performance auditorium and a new fully equipped computer and multi-media center.
Building Space To Keep Pace
AVON - Borghesi Building & Engineering will construct six mini-storage buildings totaling 42,000 square feet for All-Star Storage in Windsor. The project includes some 5,500 feet of climate-controlled storage. With more than 300,000 square feet of space in all, All-Star has additional facilities in Torrington, Derby, Middletown, Bethel and Canaan.
EXCLUSIVE LISTINGS
UI Picks Pearce Commercial
NEW HAVEN - H. Pearce Commercial Real Estate has been chosen by the United Illuminating Co. to handle the sub-leasing of approximately 86,000 square feet of Class A office space at 157 Church Street, a/k/a the Connecticut Financial Center, a 27-story, 450,000-square-feet office facility overlooking the New Haven Green. Constructed in 1990, the sub-lease space has been utilized by UI for corporate and administrative offices. According to Pearce, the space is positioned below market rates for New Haven Class A space, and is available for immediate occupancy for terms up to nine years. Present tenants include Fleet Bank, Prudential Securities Inc., Merrill Lynch and WFSB-TV. Pearce brokers Chris Nolan, SIOR, and Peter Brown are designated marketing representatives for the project.
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