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The Prpoerty Exchange
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Business New Haven
4/16/2001
By: BNH
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NEWS
Historic Site To Become Senior Housing
Ground has been broken on a 50-bed residential care home for senior citizens in Bridgeport. The $7.3 million Sterling Residential Care Home project is located at 354 Prospect Street, site of the historic former Sterling Widows Home. The property is owned by Park City R.C.H. Limited Partnership. Parent company Martland Management will be responsible for all aspects of the renovation.
The home will serve older adults requiring some support services to remain independent. Meals, housing, medication supervision, recreational programs and transportation are among the services that will be provided. A majority of residents will be low-income; 75 percent will be from Bridgeport.
The five-story building will featuring a parking lot with entry from Park Avenue and an outdoor recreational area on adjacent land at 217 West Street. The facility will have four single-occupancy residential floors with the main floor for facilities and common areas.
The Sterling Widows Home opened in 1883. It featured small rooms or suites where residents could have their own furniture; meals were served in a communal dining room. The home closed in 1993 and has been vacant since.
LEASES
Insignia/ESG has announced that Philips Medical Systems will relocate its Shelton operations to Corporate Campus I, 472-478 Wheelers Farms Road, Milford. The company subleased 75,091 square feet from Executone Inter-Tel Business Information Systems. Philips Medical was represented by Paul Jacobs, Colin Reilly and Dean Shapiro of Insignia ESG.
Jay Hruska, senior director of Cushman & Wakefield in Connecticut, has announced that Bayer Corp. has renewed its lease of 70,000 square feet at 488 Wheeler's Farm Road, Milford. Bayer is also expanding, subleasing 25,500 square feet at 478 Wheelers Farm Road, Milford.
H. Pearce Co., Realtors has announced that Michael Cecci of GenX International has leased 13,000 square feet of light industrial space at 392 Soundview Road, Guilford. The space will become GenX's new headquarters for assembly and distribution of medical equipment. Joel Galvin of the Pearce's North Haven industrial/commercial office exclusively represented both the landlord, Strafford Associates, and tenant GenX. Value of the transaction was $620,000.
MBJ Real Estate has announced that CVS has leased a site at Millbrook Plaza, Foxon Road, Route 80, East Haven. Daniel Johnson and Daniel Garofalo, sole brokers in the transaction, worked with the town of East Haven to relocate the existing Dunkin Donuts to the opposite side of the plaza to accommodate the addition of CVS. The new freestanding building will be 10,124 square feet. MBJ Real Estate is the developer and will oversee all phases of construction. Continental Contracting is the contractor for the project. MBJ is the leasing and managing agent for Millbrook Plaza.
SALES
H. Pearce Co., Realtors has announced that Furniture Solutions has purchased a 21,000-square-foot retail building at 312 East Main Street, Branford. The building will be utilized by Furniture Solutions as a second location for unfinished wood furniture. The company has another store on North Main Street Extension, Wallingford. The sale value of the Branford transaction was $789,000. Paul Roy of Pearce's North Haven industrial/commercial office represented the buyer; Irwin Leventhal of County Manor Realtors represented the seller.
The Investment Properties Group at CB Richard Ellis has announced the sale of 280 Trumbull Street (not including the Robinson & Cole owner-occupied suite), Hartford for $45.5 million. The property, purchased by New Boston Fund, represents approximately 12 percent of the greater Hartford office market. The 29-story, 672,000-square-foot office tower was sold by Cambridge Realty Partners. John McCormick, John Stout and Patrick Mulready of C.B Richard Ellis' Investment Properties Group negotiated the transaction on behalf of Cambridge Realty Partners, a privately-held investment advisor.
EXCLUSIVE LISTINGS
Sentry Commercial Real Estate Services Inc. and the Hart Corp. have been named exclusive agents for 50 Prindle Hill Road, Orange. The 50,000-square-foot distribution building, available for lease, is sited on 4.6 acres. The property is owned by Anchor Industrial Partnership.
CONSTRUCTION
OR&L Construction has been awarded a contract to renovate the Verdi West Oncology Unit at the Hospital of Saint Raphael in New Haven. The 10,000-square-foot renovation is expected to be completed in July. Architect for this project is the S/L/A/M Collaborative of Glastonbury.
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