The New Haven Middlesex Association of REALTORS® Commercial Investment Division (CID) announced the CID “2016 Deals of the Year”. CID recognized industrial and commercial real estate transactions topping $220 million in the Greater New Haven market during 2016, according to CID Chairman Vance Taylor.
“CID, comprised of over 135 commercial real estate agents doing business in the Greater New Haven area, recognized brokers who have distinguished themselves in a variety of notable real estate transactions,” said Taylor. “The $220 million in transactions completed by our brokers represent only the top tier of the countless deals done by our members in 2016 and are, in effect, the tip of the iceberg. For those who think the New Haven economy is showing signs of weakness, we’ve got the numbers to show quite the contrary!”
Brokered by Vance Taylor of the, Commercial Real Estate Group a $260,000 sale of a specialty fireproofing contracting company located at 17 Canal Street in Terryville. The CID did not release the name of the company. Passive Protection Inc. is a fire prevention contractor located at that address.
John Bergin of H. Pearce / George J Smith brokered the sale of an industrial property at 430 Sniffens Lane, Stratford. The building and property were purchased by the Coating Design Group, the facility was 35,488 square feet and it sits on 2.1 acres, the purchase prices was $1,950,000. Bergin represented the buyer, Coating Design Group. David Gorbach of Colonial Realty of Fairfield represented the seller, Putney Associates of New York and was formerly occupied by Advanced Graphics.
Stephen Press, of Press|Cuozzo Realtors leased 335 Putnam Avenue, Hamden. The 45,788 square feet is3.47 acres. The property value of the lease was $1,150,000
A former industrial building that had been converted to an AT&T call center. Press represented the building ownership, 335 Putnam Avenue, LLC, and procured the tenant, Love Center Deliverance Ministry, on this long-term lease Leased to a church that also has an option to purchase.
Lou Proto of The Proto Group was the sole broker on a land lease at 893 North Colony Road, Wallingford, 1.86 acres for a value of $2,900,000 to Centerplan Development. Centerplan has built a 10,730 square foot retail center which will be occupied by Starbucks, Great Clips, an AT&T phone store, Hannoush Jewelers and Panchero’s Mexican Grill. The lessor of the land is Fulton Forbes, Inc, David Leigh, Trustee.
Press|Cuozzo Realtors’ Stephen Press brokered the sale of a property at 2300 Whitney Avenue, Hamden with 15,000 square feet of building on 5.53 acres. The entire property sold for $1,800,000. The former Centerville Lumber property, was on the market for more than five years. The buyer Jordan a number of building set on 5.5 acres.
The Press represent the estate of Oscar Roos, and Centerville Lumber, Inc., as well as procuring the buyer, Jordan Properties.
Mixed Use Sale
Eileen Russell & John Bergin of H. Pearce/George J. Smith sold 300 Soundview Ave Fairfield, The property is a4,348 square foot three family home and a cell tower on 0.18 The price for the complete property was $755,500. The buyer was 17 Mile LLC and the seller Patricia Boyle.
Most New Transactions
Bill Clark, Vice President of the The Geenty Group was recognized for 39 new transactions (sales and new leases). Clark in his early seventies said he had no interest in retirement and had a total of 79 completed lease and sales transactions in the year.
Clark responded to a question about the total deal volume said “he wanted to keep the number of transactions above his age.”
Clark’s deals filled a variety of businesses from a small screen printer, to small manufacturers, to service companies, repair business and on the Shorelines most popular dance studios. Shoreline Ballet leased 4,474 square feet at 1795 Boston Post Road, Guilford. Kathryn Contessa is the owner and artistic director of the school.
Robert Motley and Evan O’Brien, of Cushman and Wakefield lease 108 Leigus Rd, Wallingford. The totlal property is 298,000 square feet offices. The office lease was for 42,136 square feet for seven years to Burns and McDonnell of Kansas City. Motley and O’Brien represented the tenant, Jon Putnam of Cushman and Wakefield represented Gale Development, the owner. The value of the lease was in excess of mid-seven (7) figures.
Frank Hird and Rich Lee, of O,R&L Commercial brokered the sale of 1-3 Long Wharf DriveNew Haven. The 300,000 Square foot building and 12.57 acres sold for $73,000,000
O,R&L co-listed and sold the property with the Investment Sales Group at Newmark, Grubb Knight Frank in New York City. The 300,000 square foot medical office building was sold to Healthcare Trust of America. The property received serious offers from dozens of investors and REITS (Real Estate Investment Trust).
Real Living Wareck D’Ostilio Commercial ‘s Ken Ginsberg, and Robert Cole of Arnold Peck Commercial World, co-brokered 45,59, & 81 North Main St, Bristol A 42,951 SF retail center with 17 unitson 3.5 Acres. The property sold for $4,725,000 with Ginsberg representing the seller and Cole represented the buyer the seller was Ettcon & Company
Tenants in the building include Subway, Family Dollar and Oak Hill School. The new owner plans to fill a former CVS space, with a use that will complement the new hospital planned for across the street.
Lou Proto of The Proto Group lease 55 Village Green, Litchfield 37,170 square feet at a total cost of $10,215,000. The Stop & Shop Supermarket Company has signed a long-term ground lease to relocate its Litchfield store. The new 38,000 SF store will relocate to 55 Village Green Drive just several hundred yards to the east of their existing store.
Build to Suit
Robert Motley of Cushman & Wakefield and Frank Hird O,R&L Commercial co-brokered 800 Boston Post Road, Guilford a 10,000 square foot medical office build to suit. Frank Hird Represented the tenant, CT Gastroenterology for a new headquarters for the practice.
This property on Chapel street in one of the best locations in New Haven has been vacant for 24 years. Fred A. Messore of Colonial Properties, Inc in Orange. The property at
1142 Chapel Street, New Haven is a 8,228 square foot commercial building combined with two contiguous parcels. The additional parcels at 166 York St, is a 3,618 square foot mixed use building on .06 acres and a parking lot around the corner at 169 Park Street, of .12 Acres. The total transaction was $2,300,000.
The CID provided their Community Service Award – to Carl Russell of H.Pearce Real Estate.
This award recognizes service in a variety of areas such as: charitable and civic organizations, Chamber of Commerce, involvement or leadership with a real estate association or affiliated professional Institute, Society, or Council. The recipient of this award will also be recognized by the National Association of Realtors in the organization’s National Commercial Awards.” Carl has been a senior instructor for the National Association of Realtors’ Commercial Investment Real Estate Institute CCIM (Certified Commercial Investment Member) program since 1980. Carl is a past president of the CT Chapter of the Society of Industrial and Office Realtors (SIOR), the CT CCIM Chapter, Connecticut CID chapter, and New Haven Middlesex Association of Realtors, and has been named “Realtor of the Year” by both the Greater New Haven Board of Realtors and Connecticut Association of Realtors. He is an active member of the Rotary Club of Orange and was President for 2013-2014. He founded the “Rotary Club of Orange Thanksgiving Day 5K Road Race”, which in its 4 years has raised over $40,000 for Rotary and their great causes.
He is also President of the Real Estate Educational Foundation since 2011, the charitable affiliate of the New Haven Middlesex Association of REALTORS® .