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The Property Exchange
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Business New Haven
4/15/2002
By: Anne-Marie Brungard
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NEWS
Beazley Company sales up in 2001
NEW HAVEN - Beazley Company experienced across-the-board increases in sales, listings, sales volume and average sales price in 2001, finishing the year strong. Beazley sales volume increased 22 percent to $929 million. President Greg Scott is optimistic about the Connecticut housing market. “All the cuts the Fed 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,” said Scott. Beazley expects to reach $1 billion in sales in 2002.
Prudential launches all-new branding campaign
ROCKY HILL - Prudential Connecticut Realty has kicked off an all-new branding campaign featuring the tagline “At Your Service” to follow the company logo. The new campaign is designed to underscore the real estate's dedication to quality customer service. New graphics feature a white-gloved hand offering all of the company's services on a silver tray. The new images give Prudential Connecticut Realty a fresh, stylized look while emphasizing the company's commitment.
New leaders for division of New Haven Realtors
WALLINGFORD - The Greater New Haven Board of Realtors Commercial Investment Division (CID) is pleased to announce that Paul H. Roy of H. Pearce Company, Realtors, North Haven, is the 2002 CID chairman and Kristen Geenty of The Geenty Group, Realtors, Branford, is vice chair. The Greater New Haven CID has been working together to promote cooperation between realtors from companies all over New Haven County for more than 30 years.
Local construction company earns Top 500 Award
NEW HAVEN - John F. Murphy Construction Company, Inc. has been named to the Qualified Remodelers Top 500. Sponsored by Qualified Remodeler magazine, the Top 500 recognizes the top residential remodelers in the country. Companies are listed based on sales volume, revenue growth and dedication to specialized services. John F, Murphy Construction Company, Inc. made the Top 500 list for the first time in 1995 and has since been selected for the past four consecutive years. Founded in 1986, the company has its headquarters in New Haven and specializes in custom remodeling and custom home building for the medical, commercial and residential communities of Connecticut.
Local efforts recognized at Seventh Annual Real Estate Awards
HARTFORD - The Real Estate Exchange announced the winners of the Seventh Annual Connecticut Real Estate Awards. The award recognizes new projects each year that have had the greatest positive impact on the state of Connecticut. The Grand Prize winner was the Bushnell Theatre in Hartford. Also recognized with Awards of Excellence were Yale's Broadway Renovation in New Haven and Fairfield Center in Fairfield. The Yale Broadway Renovation is a retail development that created a “dynamic and sophisticated area of shops and restaurants,” according to The Real Estate Exchanges Karen Tietjen. The project overcame a lack of trust and opposition from local merchants and faced leasing challenges. Fairfield Center is an 80,000 square foot, 20 million dollar development effort that encompasses retail and office space.
LEASES
Bruce Wettenstein, SIOR of Vidal/Wettenstein announced that Albert's Coffee Factory has taken a five-year lease in a new building recently constructed in Stratford. The firm relocated from Norwalk and has been growing at a rate of 15 percent per year. The new facility is located at the corner of Honeyspot Road and Benton Street in Stratford and is 8,000 square feet. The owner will occupy 3,000 square feet and Albert's Coffee will occupy the balance.
Commercial & Investment Real Estate, Milford announced the leasing of 3,000 square feet at the Stratford Square Shopping Center to McDonald's Corporation who completely remodeled the space into its newest state-of-the-art McDonald's Restaurant. This is the first McDonald's in North America to have heated sidewalks to prevent icing in the winter; it also has an automated beverage system.
Colonial Realty of Fairfield announced the following transactions:
Warnaco leased 12,200 square feet of space at 1895 Stratford Avenue, Stratford. They will utilize the space for storage and distribution. David S. Gorbach and Joel Hausman represented the landlord, Carlen LLC. ESG Insignia represented the tenant.
Radiall Inc. leased 6,825 square feet of space at 300 Long Beach Boulevard, Stratford. The space will house Radiall's sales, engineering and logistics operation. Radiall manufactures Hi-Rel and fiber optic connectors and cable assemblies.
Auto Parts International leased 5,000 square feet at 526 Benton Street in Stratford. The company has over 40 locations throughout the northeast. David S. Gorbach of Colonial Realty represented both landlord and tenant in the transaction.
GDC Financial leased over 2,000 square feet of office space at 929 Kings Highway, Fairfield. Established in 1989, GDC specializes in group and individual insurance and investments.
Shelton Winnelson leased 2,500 square feet at 600 Bridgeport Avenue, Shelton. The company is a distributor of high-end plumbing fixtures and supplies.
Insignia/ESG was awarded the exclusive leasing agent for almost 130,000 square feet of sublease space at Enterprise Corporate Park, Shelton. Only 100,000 SF of that space is still available, as within one week of its retention as agent Insignia/ESG arranged for Fletcher-Thompson to sublease nearly 30,000 SF.
SALES
Tom Worth of Calcagni Commercial Real Estate has sold four condominium office suites at 85 Barnes Road in Wallingford. The four units totaled 9,315 square feet and the purchase price was $745,000. “This was one of the best real estate investments I have seen in years,” said Worth.
Press/Cuozzo Realtors announced the sale of 702 Quinnipiac Avenue, New Haven. The property consisted of six of the nine two-bedroom condominium units on the waterfront and were purchased for $399,000. In addition, Press Cuozzo also sold 105 Leeder Hill Drive, Hamden. The 19,000 s/f multi-tenant facility was purchased by Leeder Hill Partners LLC for $575,000. Joel Nesson, Sr. was the sole broker for this transaction.
William N. Clark of The Geenty Group, Realtors announced the sale of 2.21 acres of commercial land in the Woodlands Industrial Park. The site was purchased by V.J. Industries, currently of East Haven.
Pyramid Real Estate Group sold 1 Sylvan Road, Westport to Andrew Beer. Pyramid Real Estate represented the seller KUS Corp. and Rand Real Estate represented the purchaser.
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