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NEW HAVEN: A detailed real estate report by the real estate firm Colliers International shows that new developments in the recently ended 1st Quarter combined to produce a positive outcome for New Haven’s office market. While the report presents the information as good news the actual city’s vacancy rate has increased in the quarter.

More than 60,436 feet of square footage was absorbed in the quarter, which is a pretty healthy number for New Haven. As we previously reported in January, Colliers had not yet considered the new 95,000 of square feet by the new “tech” building, District. The most recent report includes that added space to the New Haven market, and it has increased the overall vacancy rate for the city from 19% percent at the end of 2017 to 19.3 percent today in spite of the new square footage leased.

The Collier’s report authored by New Haven realtor John Keough describes the District located at 470 James Street between the East Rock and Fair Haven neighborhoods.

milfordsqMilford: A newly developed shopping center, already leased out to a  variety of prime national tenants has been sold.

Milford Square is a 62,442 square foot retail center on Route. 1. The property is newly developed and 100% leased to a tenant mix including REI, Panera, Verizon, Sleep Number, and Pet Valu. Additional tenants at the property include Salons by JC and Tomato & Co. The class A center is in an area with 3.4 million square feet of retail within 5 miles of the center including retailers such as Costco, Lowe’s, Stop & Shop, Whole Foods, Walmart, Home Goods and Marshalls.

Mark Kandkhorov and Michelle Abramov of Asset Commercial Realty Group LLC’s (AssetCRG) exclusively represented RJ Milford LLC in its 1031 purchase of Milford Square. for $28 million. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, CG Milford, LLC, an affiliate of the Cappelli Organization of Valhalla, NY.

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HARTFORD: The Mashantucket Pequot and Mohegan Tribes, released an updated rendering of their planned East Windsor entertainment and gaming facility. The renderings were submitted to the town as a part of the local approval process.

The proposed development will be a 188,000 square foot world-class gaming and entertainment facility with roughly 1,800 slot machines, 50 table games and 10 poker tables. Construction is slated to begin in the Fall of 2018, with an opening date tentatively scheduled for the Spring of 2020.

The East Windsor casino and the partnership between the two competing Connecticut Indian tribes was approved by Connecticut’s legislature to address competition from a new $800 casino development by MGM in Springfield, Mass., scheduled to open on September 1.

vascularSHELTON: U.S. Vascular Management Group of Trumbull has leased 8,600 SF of premier office space at International Place, 6 Research Drive in Shelton. VMG is a management consulting firm for medical practices.

The new office was delivered turnkey by owner/developer R.D Scinto. Rob Scinto of RD Scinto represented the landlord in the negotiations and Paul Mortenson of US Vascular represented the tenant in the transaction. The 10-year lease has a value of $1,787,417 and The Proto Group LLC, Lou Proto was the sole broker in the transaction.

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bigstock Increasing Real Estate Market 1692403BOSTON: Realtors and Connecticut homeowners are sitting a little prettier this spring as homes sales for April are the best in more than ten years and prices have increased by 6.4% year over year according to The Warren Group, publisher of The Commercial Record.

A total of 2,584 single-family homes were sold in Connecticut in last month, compared to the 2,402 homes sold in April 2017 – a 7.6 percent increase. Meanwhile, the median single-family home price increased 6.4 percent to $250,000, compared to $235,000 a year ago, marking the seventh consecutive month of median price gains. Year-to-date, single-family home sales totaled 8,478 transactions with a median sale price of $243,000.

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Apartmentlist.com a national renter’s website released a report detailing the level of segregation in metro areas across the country and the relative difficulty that residents in segregated neighborhoods have with rental payments.

According to the report while cities are growing increasingly diverse generally, residential segregation still exists in all of the nation’s major cities. A release from the company’s director of research Chris Salaviati says “the Fair Housing Act is now 50 years old, but residential segregation observed today can be directly traced to the legacy of discriminatory housing practices.”

Connecticut metros, Bridgeport-Stamford, New Haven - Milford and Hartford - W.Hartford - E. are among the top tier of segregated cities in in the one hundred largest metro markets. New Haven- Milford metro is ranked #29. The overall segregation index of 0.49. meaning 49% of the minority population in the New Haven metro would need to move to another neighborhood in order for the demographics of each neighborhood to match the demographics of the metro as a whole.

house bar graph arrow up2BOSTON: median single-family home price in Connecticut increased in March and the median condominium price followed a similar trajectory, according to the latest report from The Warren Group, publisher of The Commercial Record.

A total of 2,012 single-family homes were sold in Connecticut in March 2018, compared to the 2,229 homes sold in March 2017 – a 9.7 percent decrease. Meanwhile, the median single-family home price increased 7.8 percent to $248,000, compared to $230,000 a year ago, marking the second consecutive month of median price gain. Year-to-date, single-family home sales totaled 5,834 transactions with a median sale price of $240,000.

5 Research Drive SheltonSHELTON, Dark Field Technologies has relocated their headquarters from Orange to Shelton, according to Jon Angel, president of Angel Commercial, L.L.C. in 5,785 square feet of space at 5 Research Drive.

“5 Research Dr. is an 84,000 square foot office building near Route. 8 that is owned and managed by R.D. Scinto, Inc.,” said Angel who was the sole broker in this transaction. “Tenants in this building have access to the plethora of amenities available at the nearby Enterprise Corporate Park, which include a private fitness club, cafés, a 200-person auditorium, daycare center, airport limo/shuttle service, salon & spa, and tennis and basketball courts.”

2115 State StHAMDEN: , A 19,000 square foot industrial property at 2115 State Street has been sold. The purchase price was not released but a recent listing for the property cited a price of $589,900 for the cost to purchase.

Dave Melillo of the Pearce Real Estate North Haven office was the selling broker for the freestanding industrial building on 2 acres, the former home of Cummings Steel. The seller, represented by Melillo, was 2135 State Street, LLC and the buyer was Community Crusade for Children, Inc. Jeff Del Favero of Berkshire Hathaway New England Properties represented the buyer.

Community Crusade is a non-profit organization that operates under the Kiducation name and recylces clothing.

BlueRibbon DunkinDonutsFARMINGTON: CREW-CT – The Real Estate Exchange, supports “advancing the achievements of women in commercial real estate,” the group named its winners of its 23rd annual Blue Ribbon Awards for best Connecticut real estate projects completed in 2017. The winners were announced the evening of April 25 at the Connecticut Science Center in Hartford.

There were 27 notable real estate projects nominated this year. The selection panel included Cecil Adams, director of museum services, Wadsworth Atheneum;Rebecca Nolan, vice president of global business development, MetroHartford Alliance; and Courtney Hendricson, vice president of municipal services, CERC. John Glascock, director of the center for real estate and urban economics at the University of Connecticut served as emcee for the event and announced the following winners:

 CBC LogoHARTFORD: The Connecticut Building Congress (CBC) has named the winners of the 2018 Project Team Awards (PTA).

The Awards Banquet will be held on June 12.

One of the winners listed below will be named the Project Team of the Year at the event. CBC also will award several scholarships to graduating high school seniors who will be attending a two or four-year college next fall to study a field within the A/E/C industry.

Congratulations to the teams on the following projects:

Elton Terence Branford 180x225By Terence Elton

BRANFORD: “Make no little plans” was the advice of American architect and urban designer Daniel Burnham. His point was that in order to make communities more livable and to have the future we desire, good planning is critical.

Branford believes Burnham would approve of its approach to development. As a town, Branford considers such plans as more than an exercise, devoting time, energy, resources and much thought into its planning efforts, and then uses those plans to move the town forward.

This is evident as the town works to dovetail its Transit Oriented Development Plan, completed last fall, with efforts currently underway on its decennial Plan of Conservation and Development. Neither is produced in order to just check the box and then filed away until the next time; rather they are intended to be effective tools for the town to plot its course for the next decade.

Screen Shot 2018 05 17 at 2.37.23 PMNEW HAVEN, LOS ANGELES: New Haven based Pickard Chilton working with Arup, Corgan, and The Beck Group was selected as one of six leading architecture and engineering firms to showcase the first designs at Uber’s 2nd Elevate Summit, for uberAIR Skyports. These conceptual designs mark the first steps from industrial leaders to create infrastructure for high-volume operations of uberAIR networks in and around cities.

According to a release from Pickard Chilton, dozens of submissions, were whittled down to six concepts were selected which demonstrate a high degree of realism and technical feasibility. Finalists include: Gannett Fleming, BOKA Powell, Humphreys & Partners Architects, Pickard Chilton working with Arup, Corgan, and The Beck Group.

NEW HAVEN: AIA CT released the winners of its 2018 Business Awards. The organization says,this statewide award honors architects for solving business problems for Connecticut clients, thereby demonstrating the power of architecture to shape business performance, improve peoples’ lives, and provide a value- added service.”

The annual awards are juried by an independent panel of architects, this year’s jurors are

Victor Cassella, American Polyfilm Company, Branford; Brent Robertson, Fathom, West Hartford; Tony Terry, AIA, Terry Architecture, Branford.

There are two size categories, [under and over 50 employees] for the awards to help clarify the project scale and two “social” categories, Community Integration and Civic Contribution.

milford beerMILFORD: Dockside, a waterfront biergarten and craft brewery in Milford, has received a “green light” from several important agencies in the city that are necessary to move forward with the project.

Co-owners of Dockside, Bob Chicoine and, are letting the public know that this summer the waterfront location will have low-cost, high-quality slips for boaters to rent in addition to the craftbrewery.

“Our hope is for Dockside to serve as a Gateway to Milford,” said Dockside co-owner Bob Chicoine.

“Now more than ever, the craft beer industry is thriving with a more than $700 million impact statewide. And, we believe that Milford-residents, as well as folks across the region, deserve to be able to enjoy locally brewed beer near the waterfront and to experience the neighborhood revitalization benefits of the growing craft beer industry.”

Several agencies that have given approval for the project include Wetlands, Police, Fire, Building, City Engineer, and others.

The property where Dockside will be located is currently occupied by a home (50 Bridgeport Ave.) and Village Marina (40 Bridgeport Ave.). Plans include demolishing the existing home – which will pave the way for 112 parking spots – and renovating the 4,000 square foot building that currently houses Village Marina to then serve as the new craft brewery.

In addition, near the waterfront, two docks will be renovated to hold boat slips and inland will be home to a top-notch biergarten. To maximize the waterfront views, there will be a wide array of waterside seating and deck space for craft brewery goers.

The dock restoration includes the building and installation of two new docks, one of which will be complete this summer. That said, both docks will be operational for boaters looking to rent slips at a top-notch location this year.

“Dockside is going to be a place where folks can come and enjoy locally brewed craft beer, hang out on the waterfront, and enjoy a little slice of Nantucket right here in Milford,” said Dockside co-owner Dan Bagley.

The two outstanding agency approvals that Dockside is awaiting currently are the Connecticut Department of Energy and Environmental Protection (DEEP) and Milford’s Planning and Zoning board.

location astoriaNEW YORK: Can New York style pizza get a slice of the New Haven and Connecticut market?

The Artichoke Basille’s Pizza, franchise which says it is “the nation’s largest and fastest growing New York pizza concept,” has signed a multi-unit franchise deal to bring its “larger than life” slices and whole pies to the greater Hartford and New Haven, Connecticut areas.

Franchisee Matthew Rusconi is looking to open the first location by year’s end and is actively scouting real estate opportunities in Hartford County, New Haven, Middletown, and Cromwell.

aiactl 212x300NEW HAVEN: The Connecticut Chapter of the American Institute of Architects [AIACT] has unveiled a new digital magazine, Archtype, expected to be published 11 times per year. The digital “page turning” format mirrors a print style magazine, a PDF version is available as well.

LAGI Willimantic SpringNEW HAVEN: A collaboration led by Pirie Associates Architects, with New Haven based sculptor Gar Waterman and Branford “energy expert” and architect Lindsay Suter designed a public art piece for the waterfront of downtown Willimantic. The design was created as part of the most recent Land Art Generator Institute’s [LAGI design competition for construction on the site.. The team’s effort won and the trio was presented with an award for their project design at Connecticut Arts Day on April 25.

Rio Iluminado is an unusual, innovative and what Inhabit a design Weblog magazine called a “spectacular energy generating artwork."

LAGI’s most recent design competition was a partnership with the Willimantic Whitewater Partnership (WWP).

Paynter Betsy Newtown 180x225By Betsy Paynter

Brookfield, Connecticut is the perfect lace .to live, play, raise a family and run your business -

Brookfield, Connecticut is the perfect place to live, play, raise a family and run your business. A 20 square mile town, located in Fairfield County in southwestern Conn., Brookfield is a quintessential New England town. Strategically located between metropolitan areas of NYC, New Haven, Hartford and Boston, make Brookfield an appealing location for industry to move their products with ease. Vehicular access exists along Interstate 84, running east-west from Pennsylvania through Brookfield to Hartford onto Boston. US Rtes. 7, 25 and 202 intersect I-84 within Brookfield. It’s convenient proximity to interstate highways, air and rail transportation along with a highly skilled work force make Brookfield a great place to do business.

dollargeneralASHFORD: It may be up in the northeastern part of the sate but Milford based DeForest Smith and Carl Russell of Pearce Commercial have sold the property at 299 Pompey Hollow Road for $1.9 million.

The 9,100 square foot single-story, freestanding retail space situated on a 2.4 acre lot, is a Dollar General Store. The seller, Gary Eucalito, was represented by Daniel de Sa’ of EXP Realty Advisors of NYC. The buyer, Jordan Realty, was represented by Smith and Russell of the Pearce.

Screen Shot 2018 04 20 at 1.46.26 PMWALLINGFORD: NN Inc. [NASDAQ: NNBR] based in Johnson City, TN has leased the 50,400 square foot building located at 6 Northrup Industrial Park Road. NN Inc. is a “leading diversified industrial manufacturer of high precision metal and plastic components and assemblies.”

The company has subsidiaries in several countries and in addition to its Wallingford subsidiary, Connecticut Plastics LLC the company’s Boston Endo-Surgical Technologies, LLC, Lacey Manufacturing Company, LLC are located in Bridgeport.

Connecticut Plastics is expanding from a 20,000 square foot facility at 1264 Old Colony Road, it is expected to expand employment in the new facility.

David Barnes and Kyle Roberts of CBRE, New England represented the landlord 1070 North Farms Road, LLC and Gary Damato of Press|Cuozzo Commercial Services in Hamden represented the tenant, NN Inc.

60 Popieluszko Photo 35HARTFORD: 60 Popieluszko Court built in 1935 and rehabbed in 2005 was sold for $550,000 to the Connecticut Fair Housing Center.

O,R&L Commercial, LLC brokered the sale of the 6,902± square foot office building, Robert Gaucher, CCIM, SIOR and Carol Karney of O,R&L represented the seller, Office Associates, LLC, and the buyer, Connecticut Fair Housing Center was represented by Andy Filler of Avison Young.

According to a statement by the brokers, “the building offered some the most attractive architectural features in the Hartford area and was sold fully furnished.”

The building was the former home of Families in Crisis Inc. which was shuttered in July of last year when the state cut funding to it and 25 other non-profits.

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Morgan Davis

NEW HAVEN: , CT Pirie Associates Architects has hired Jake Morgan and Danielle Davis, RA  “to its growing team.”

Morgan comes to Pirie with five years of experience in architecture and preservation including spent two years in the commercial office development practice at Gensler in Washington, D.C.

Davis, joined Pirie Associates after working in New York City for RAMSA. Davis earned her master’s degree in Architecture from Yale in 2014, and brings with her a wide range of expertise, including master planning and extensive knowledge of commercial, institutional, and educational project types.

Grim Crystal SvigalsNew Haven: Svigals + Partners, has appointed Crystal Grim, as director of business development and marketing.

“We’re fortunate to have someone with Crystal’s experience and drive joining our team,” said Jay Brotman, AIA, managing partner with Svigals. “This is a critical time for us: Recent successes and new challenges have opened the door for the firm to reach new markets. Crystal’s skills and business development savvy will help us to convert our strengths into new projects and new clients.”

Brakels ArcherCENTERBROOK: Centerbrook Architects & Planners has hired René Brakels and Cassie Archer to the architectural staff.

Brakels joins Centerbrook with a “diverse background of 15 years in the architecture industry that includes positions in his home country of The Netherlands, Ireland, Latvia and New York. Most recently he served as a job captain at RGB Architects in Providence. Brakels earned bachelor’s and master’s degrees in Architecture in The Netherlands, where he is a licensed architect.

Archer, who grew up in Nigeria and England, comes to Centerbrook from Kenneth Boroson Architects in New Haven, where she was a senior job captain. After graduating from Wentworth Institute of Technology in 2012 with a bachelor’s degree in Architecture, Archer began her career as a designer in California.

Both Brakels and Archer joined Centerbrook in February and have “hit the ground running on Quinnipiac University projects.”

UA SugarLand 123ORANGE: A new entertainment complex is coming Orange, occupying a former big box rtailing location.

Kevin Weirsman, broker and vice president of Colonial Properties, Inc. represented the landlord, Bull Hill Associates, LLC in the leasing of 85,000 square foot at 260 Bull Hill Lane. The building, formerly occupied by Builders Sq. and prior to that, K-Mart, was leased to Urban Air Family Adventure Parks, a national franchise operation with more than 40 locations.

Urban Air plans to open in late spring. The location will feature trampolines, laser tag and go-karts. Urban Air was represented by Andrew Callahan of Venture Retail Partners.

“This property had long been vacant and was another example of a growing trend of undesirable, hard to fill empty big box buildings in today's changing retail landscape. We were pleased to lease the entire building to an alternate, entertainment tenant, which has proven an effective use for large retail vacancies,” said Michael Richetelli, president and designated broker of Colonial Properties.

middletown ridgeMIDDLETOWN: Connecticut’s apartment market continues to attract strong interest among investors as another apartment portfolio brings in a large investment., Institutional Property Advisors (IPA), a division of Marcus & Millichap, completed the sale of Middletown Brooke and Middletown Ridge, a two-property, 518-unit multifamily portfolio located in the Westlake District. The portfolio sold for $62.65 million

“The Westlake District is a highly sought-after area for renters by choice, Millennials, empty nesters and employees working in the greater New Haven to Greater Hartford metropolitan areas,” said Victor Nolletti, executive director and lead advisor for the IPA Northeast team. “This location, which provides residents with access to two major employment areas, has consistently been one of the most stable multifamily sub-markets in the state. These assets are well positioned to benefit from a combination of modest amenity and unit upgrades, further enhancing an already attractive in-place yield.”

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St.John Tower, 1971 Rendering of Makeover, to "enhance the visual impact."

STAMFORD: Quisenberry Arcari Malik, LLC (QA+M Architecture) of Farmington has been selected as the designer for the renovation of St. John Towers in the city’s downtown. The project includes the complete rehabilitation of two 17-story silo-like apartment towers with 120 units of residential housing in each tower. The buildings were built in 1969 and are currently occupied.

“With this renovation project, we see an opportunity to enhance the visual impact of the St. John Towers while improving the facilities for the tenants,” said David Quisenberry, a QA+M Architecture principal. “We feel that we could help create an optimistic solution for the cost-conscious residential towers while improving the facilities’ presence on the Stamford skyline.”

695stamfordcreditacoreSTAMFORD: Webster Bank has leased 25,000 square feet of office space at 200 Elm Street, .a class A office property located in downtown. Owned by Building and Land Technology (BLT), more than 250,000 square feet of office space at 200 Elm in less than 18 months, including 200,000 square feet to tenants that are new to the city market.

200 Elm is one of the two recently renovated downtown office towers that formerly housed the headquarters of Gen Re. With the renovations, according to BLT “200 Elm now has a new four-story entrance atrium, modernized elevators, new roofs, new bathrooms, new large conference facility and collaboration areas. Amenities including a full-service café with rotunda seating area, outdoor central courtyard, full service fitness center managed by Exhale Mind Body, manned security stations with surveillance, control gates and card key access 24/7/365.”

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Factset's New Home at 45 Glover Avenue, Stamford

STAMFORD: Although it was a turbulent first quarter for certain submarkets, Fairfield County’s office fundamentals remained stable while Westchester County saw office leasing activity fall but asking lease rates rise in key submarkets, according to Colliers International Group Inc. (NASDAQ:CIGI, TSX:CIG).

“The market is still feeling the effects of GE’s consolidation as they formally market their 275,000-square-foot space in the Stamford Non-CBD submarket,” said Sean Cullen, director of research for Colliers’ Stamford office. “However, healthy leasing activity of 832,465 square feet has led to a net increase in availability of just 20 basis points from last quarter. Pricing fell slightly by 1.0 percent to $35.90 per square foot.”

REPORT:

trump estateGREENWICH: A Waterfront estate formerly owned by President Donald Trump is on the market for $45 million.

The property, ‘commands” a 6-acre peninsula and on by the waters of Long Island Sound, and is currently the highest-priced residential property currently available for sale in Greenwich.

The 20,000-square-foot brick Georgian Colonial, designed by Polhemus and Coffin Architects, was purchased by the current owners 20 years ago and has undergone extensive updates and additions since.

cheshire skyCHESHIRE: Sky Management Services, LLC with offices in Philadelphia and New York, has purchased 611-617 West Johnson Avenue a four building flex complex totaling 210,000 square feet, with all four buildings adjacent to one another. Sky says it is “conducting an aggressive capital improvement and marketing program at the site and is seeking to secure new tenants by offering very competitive leasing terms, while remaining dedicated to the retention of existing tenants.

The price for the complex was reportedly $2 million. Bob’s Stores and Eastern Mountain Sports are both tenants in the facility, with distribution and headquarters offices.

“We are pleased to acquire our third property in Connecticut, which is extremely

house bar graph arrow up2BOSTON: Single-family home sales in Connecticut fell 3 percent in February compared to February 2017, while the median sale price spiked 7.2 percent, according to the latest report from The Warren Group, publisher of The Commercial Record.

[ SE TOWN BY TOWN BREAKDOWNS BELOW]

A total of 1,688 single-family homes were sold in Connecticut during February 2018, compared to the 1,741 homes sold in February 2017. Meanwhile, the median single-family home price increased to $237,000, compared with $221,000 a year ago. This marked the biggest year-over-year price jump since September 2013. Year-to-date, single-family home sales totaled 3,817 with a median sale price of $235,950.

"Sales may have slowed in February, but the rising price is a good sign for any current homeowners who are thinking of selling,” said Timothy Warren, CEO of The Warren Group. “The inventory of homes for sale is dropping in Connecticut and the tighter supply may be pushing up prices. Closings from the Spring real estate shopping season peak in the summer months. We’ll soon know if this trend continues or if homeowners rush to put their homes on the market to take advantage of higher prices.”

TSKP LibraryHARTFORD: The city’s “long awaited” Park Street Public Library has a a new design presented by architects TSKP Studio of. Hartford. The two-story, 12,000 square foot building offers adult and children’s library functions, community spaces and a “protected” outdoor courtyard.

The main library and community room portion will be built using exposed wood timber construction, which according to TSKP will “result in a warm and inviting atmosphere for these public areas.”

mathewshomeThe estate of former New Haven Developer Bob Mathews, now under federal indictment. The home was priced for auction at $26.5 million, but has been listed on Realtor.com for $44 million.

 

By Mitchell Young

NEW HAVEN: A flash from the past as 90’s era real estate developer Bob Mathews has been indicted, with the Federal government alleging he ‘scammed foreign investors.”

Mathews had developed what is now the city’s premier bio-science building 300 George Street, after buying it for $500,000 from SNET. It was mostly vacant when Winstanley Enterprise purchased it for $$27 million in 2000, Winstanley spent more than $25 million to develop the building for bioscience use.

mathewsMathews was a close friend and involved in several transactions with former Governor John Rowland, including purchasing his Washington apartment at what was seen as an inflated price. Mathews was fined $2000 for ethics violations relative to a transaction with Rowland but was not charged with any crimes.