beldenplace

WESTPORT: A team of three brokers, David LindlandFranco Fellah and Matthew Keefe, has completed the sale of the 201 Main Street property for $3.25 million. HK Group was the sole broker involved in the transaction. The property features three separate buildings totaling 10,050 s/f, on 0.39 acre zoned restricted business district.

The seller was the estate of Anna Nappa, the property was first purchased around 1964. Nappa Sales, doing general glass and screen repairs, selling windows, doors and glass is a current retail occupant

The property contains 13 residential units and a retail store. The new owner, Belden Place, LLC has plans to redevelop the property into a “first class” residential property with 14 apartments and a retail store. Three of the apartments will be classified as affordable.

crossfitWATERFORD: New London CrossFit, LLC, has leased 11,750 s/f of space at 132 Cross Road. Ron Lyman, CCIM, Lyman Real Estate CEO, brokered both sides of the deal between Michael Penta of New London CrossFit and landlord James Wray of 132 Cross Road, LLC

The lease extends six years, ending December 31, 2023. The property is located between Rte. 85 and I-95, just off Exit 81. According to the branded fitness regimen’s website, “CrossFit is constantly varied functional movements performed at high intensity.” The global network of CrossFit affiliates numbers more than 13,000.

38trumbullNEW HAVEN: The iconic mixed use building at 38 Trumbull Street was sold for $1,325,000 to Toplift Peak LLC. The seller was a local real estate partnership, Block and Kahan Properties. The building, a mix of office and multi family units, is at the gateway to Yale University at the corner of Orange and Trumbull Streets.

Steven Inglese, principal of the New Haven Group Inc., represented the seller in the transaction. The buyer was represented by Ken Ginsberg of RLWD Commercial [Real Living Wareck D'Ostilio].

 sketchersHAMDEN: The city’s Director of Economic Development and Neighborhood Revitalization, Dale Kroop, released a statement saying “despite the challenges in the retail and shopping center marketplace, Hamden has been getting positive news about its largest shopping centers.”

He added, “we are seeing continued interest in the Magic Mile and interest at Putnam Plaza in terms of alternative uses that will be good in the long run for the tax base and residents.”

The discount supermarket Aldi is set to open at the Hamden Mart on April 12th, the locally based Wine Merchant will relocate next door to Aldi during the summer.

WEST HAVEN: For those that take notes write this down. At least one hands on printer is showing that ink on paper still matters. Panagrafix inc. [USA Notepads], of Cascade Road in Milford has purchased a 20,520 square foot light industrial building on 1.8 acres, for $225,000 at of 50 Fresh Meadow Road to accomdate its more than 100 employees.

Michael Richetelli, president of Colonial Properties, Inc., represented the seller, Fresh Meadow Properties, LLCJoel Hausman of Colonial Realty in Fairfield represented the buyer.

The seller’s legal counsel was attorney Larry Langerman, of Milford. The property was formerly home to Seaboard Metal Finishing and will be used as a print shop by the new buyer.

stratfordSTRATFORD: A three parcel development site were sold recently on East Main and Sidney Streets for $1.7 million. The sites included are approximately 3 acres and adjacent to Stop and Shop and across from Home Depot. The buyer was the neighboring property owner, Urstadt Biddle, the owner of the Dock shopping Center located nearby. UB brought the site through zoning for a self-storage development. The seller was Zoar, LLC.

The company is reportedly in negotiations to also bring a restaurant to the site. The CT Post previously reported that the company’s plans for the site and the storage facility could exceed $14 million in costs.

Steven Inglese, principal of the New Haven Group Inc., marketed the property on behalf of the seller in the transaction and was the sole broker in the deal.

Walsh Kimberly CNA Simpson Kimado CNA
Walsh Simpson

GLASTONBURY: Cheryl Newton Architects (CNA) appointed Kimberly Walsh as business development manager. Prior to joining CNA, she worked as the marketing manager for Consulting Engineering Services in Middletown. With over a decade of AEC industry marketing experience, Walsh’s depth of talents includes lead generation, graphic design, photography, writing, social media, and website management.

Screen Shot 2018 03 28 at 9.12.38 AMWILTON: The home of the Omnicom Group in town and the northeastern of Enterprise Rent-A-Car has sold. The 52,500 square foot one-story office and flex building located at 131 Danbury Road sold for $9.225 million.

Omnicom (OMC) is a long-time tenant in the building and is one of the world’s largest global marketing and corporate communications companies and employs more than 74,000 people worldwide. The company recently entered into a long term lease renewal and have invested several millions of dollars upgrading their space.

uconn torringtonTORRINGTON: UConn has contacted to Torrington city leaders to offer the municipality the first chance to buy the University’s property that had as UConn’s regional campus until mid-2016.

The former mini campus has three buildings on 95-acres, where the University ended academic programs in mid-2016 due to dwindling enrollment.

EdAdvance, one of Connecticut’s six Regional Education Service Centers (RESCs), has expressed an interest in buying the M. Adela Eads Classroom Building and property around it for use in the educational programming it offers for 24 school districts in western and northwestern Connecticut.

Tyre Michael AmentaEmmaSTAMFORD: Michael Tyre, AIA, an “award-winning designer” with Amenta Emma Architects, has been promoted to managing principal of the firm’s Stamford office.

Tyre will oversee a staff of six, with Anne Loh Russo serving as lead senior designer. The Stamford office focuses on corporate and commercial interiors. This focus will continue, with a long-term plan to develop additional studios in other markets.

“I am very excited about the opportunity to lead this team and elevate Amenta Emma’s core mission of bringing world-class design and technical expertise to help solve the challenges our clients face,” said Tyre.

CBRE TrumbullLoftTRUMBULL. Construction of Trumbull Loft Apartments will be moving forward with the financing secured through CBRE Capital Markets’ debt & structured finance of $39.6 million l

The property is situated on an 8.57-acre site just off of Exit 49S of the Merritt Parkway (Rte. 15)

and consists of three garden-style, 4-story elevator-served apartment buildings and five free-standing carports with 39 spaces

The CBRE Hartford team of Michael Riccio, Susan Larkin, and Anna Pfau secured the floating rate loan on behalf of the New Jersey-based developer Continental Properties. Financing was provided by Washington Trust Company and Peoples Bank of Holyoke.

Press 2HamdenHAMDEN: Press|Cuozzo Commercial Services completed the sale of 2 Hamden Park Drive, a one-story, masonry office/warehouse facility built in 1990 and containing 11,340 s/f.  The building is set on 1.29 acres in the Hamden Industrial Park.  

The transaction closed on January 11, at $610,000.

Stephen Press, SIOR represented the seller M.R. French Inc. of Sea Cliff, N.Y.  The buyer J.F.D. Tube & Coil Products, Inc. was represented by Dan Orlowski of Newtown Realty.

PROCON BrightviewSHELTON: Foundation work is underway on a new Brightview Senior Living Community. The latest addition to Brightview’s assortment of communities is located at 30 Beard Sawmill Road. off Rte. 8. Brightview Senior Living Development chose PROCON of Manchester, N.H. as the architect and construction manager for the 168,000 square foot “continuum senior living community.”

The Shelton community is PROCON’s ninth collaboration with Brightview and the second to be located in Connecticut, in 2016, a 70,000 square foot Brightview on New Canaan in Norwalk was opened.. Shelton’s design features 161 apartments in a variety of styles and care options. The apartment choices include 87 independent living, 48 assisted living and 26 Wellspring Village apartment homes. Wellspring Village is a “specialized Brightview neighborhood designed to enhance the lives of those living with Alzheimer’s disease and other forms of dementia.”

UMF PembrokeCourtMANCHESTER: United Multi Family (UMF) brokered the sale of 22 units known as the Pembroke Court Apartments located at 131 Hilliard Street for $1.3 million. Handled by Kurt Cawley of the Boston office, the brick residences were built in 1968 and comprised of all one-bedroom units.

There are onsite laundry facilities and parking in the rear of the property for the tenants. The value-add opportunity presents investors with a stable asset in a strong rental market with the ability to increase rents through unit renovations. Recent capital improvements include a new roof in 2013.

learning

Learning Exchange Signs Up for a 10,000 Square Foot Space In New Haven

NORTH HAVEN: The Proto Group has released details on several leases bringing in more than $1.78 million in upcoming revenue and nearly 62,000 square feet of space throughout greater New Haven.

  • Connex Credit Union of North Haven has purchased the former HSBC branch at 155 Main Street for $950,000. The building is 3,000 square feet on .72 acre. The seller was 155 Main Street LLC and was represented by Dom Musilli of True Commercial Real Estate and Connex Credit Union was represented by The Proto Group.
  • Louis Salatto has leased 900 square feet of retail space at the newly redeveloped retail plaza now known as Washington Commons in North Haven. The tenant signed a 3-year lease with Commercial Investment Group LLC of Hamden. The Proto Group LLC of North Haven is the sole broker.

Pirie Laura PirieBy Laura Pirie, Pirie Associates Architects

Storytelling is one of the most powerful tools we use at Pirie Associates to create environments for our clients. This is true for projects that range from retail fit-outs to university buildings to city and community planning projects. In fact, the greater the number of stakeholders, the more critical storytelling is.

Most people think of architects as designers of form, and that’s true, we are. In fact on a typical project, 75% of our time is spent on developing the form. However, there is an essential 25% that can make an ordinary project extraordinary.

Imagine that before any form is crafted, the most important 25% of the effort is expended eliciting and defining intentions: our client’s intentions. Why do this? Because environments are woefully underutilized if they only look beautiful and function appropriately.

CoreConst CherryStLofts 1

Construction Resources reaches 55% completion of Cherry Street Lofts development

BRIDGEPORT: A project that was met with skeptics when proposed four years ago to convert a former factory buildings on the west end of the city into a mix of apartments, retail spaces and a charter school, is moving forward apace.

Today the, Phase I of the project is more than 55% complete and according to the developers “will meet its scheduled finish date of December of this year.”

Located within a city block bordered by Cherry Street, Howard Avenue, Railroad Avenue and Hancock Avenue, it was the former home of the American Gramaphone Company which operated on the site from 1870 until 1934. Eight Additional buildings were constructed on the property from the 1930s and many different tenants occupied the industrial spaces until it became vacant in the 1980s

CBRE 1westport365PostRdJeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented the owner, CapFor Westport, LLC, at 1365 Post Road East (Rte. 1). The team was also responsible for obtaining the buyer..

1365 Post Road East is center situated on Rte. 1 (22,100 cars per day), the main retail corridor of the town. The property is 95% leased and is anchored by Balducci’s, a gourmet grocer, and Ulta, [cosmetics and beauty products] who is currently building out their space and expected to open in March. Additional tenants at the property include Tusk Home, W Hair & Color, Zaniac and Awareness Technologies, collectively providing an average remaining lease term over nine years.

trader joes
Trader Joe’s new 700,000 s/f distribution center is now under construction at Phoenix Crossing;

HARTFORD:, The Connecticut/Western Massachusetts chapter of SIOR announced the results of its semi-annual membership survey of commercial real estate market conditions. The survey is based on market activity for the period July through December, 2017 within Connecticut and western Massachusetts.

SIOR survey results point to “a continuation of the overall positive outlook established earlier in 2017. The industrial sector continues to outperform the office sector and overall the results indicate a market that is generally stable to improving.”

NewHavenSkyline 2NEW HAVEN: According to the most recent research report for New Haven from Colliers International the New Haven office market is undergoing a change.

“The office market in New Haven is now a few months into its new reality of high vacancy and vague prospects, the result of the bombshell decision last September by Alexion Pharmaceuticals [NYSE: Alxn] to move its headquarters to Boston.”

The report added, “following the mega-jump in 3rd Quarter vacancy due to the Alexion move – from 14.1 to 19.3 percent – the market settled back into its usual groove in Q4, ending the year with modest improvement and a vacancy rate of 19.0 percent. Net absorption for the quarter was 20,898 square feet.”

bms buildingWALLINGFORD: Massachusetts-based , Calare Properties, real estate development company  firm has purchased the Bristol-Myers Squibb property for $5 million, the property has a $46 million assessment from the town..

Calare said that it sees “exciting leasing potential for both office and pharmaceutical/biotech tenants as well as new development opportunities for a variety of uses including industrial.”

The company announced in 2015 it would be closing the Wallingford Campus by end of 2018 as part of a company wide reorganization. Employees will be offered positons in Cambridge, MA and New Jersey facilities to Cambridge.

ENFIELD exterior JUNE2014
After $38 million in improvements just three years ago Mass Mutual is leaving its Enfield location and consolidating operations across the border in Springfield.

SPRINGFIELD: MassMutual Insurance is consolidating its operations in Springfield and a new $2500 million facility on Boston’s seaport. The company says the consolidation will result in a total investment in Massachusetts its home corporate location, of $300 million.

The Springfield corporate office will see 1,500 over the next four years to reach more than 4500 jobs there, and 500 at the Boston location.

stanleybuildingNEW BRITAIN:  - The former Stanley Black & Decker building at 480 Myrtle Street is for sale.

According to Frank Amodio, owner of Amodio & Co. Real Estate who is representing the seller.

The five story 138,986 square foot building is outfitted with offices, a cafeteria, three elevators, a “modern atrium lobby”, and sits on a 5 acre parcel.

concrete truckWETHERSFIELD: Connecticut Ready Mixed Concrete Association’s [CRMCA] Build with Strength Committee, announced that the CRMCA will be marketing a comprehensive “Build With Strength” campaign to the Connecticut construction market. The campaign will be targeted to the Connecticut architecture, design and engineering communities to promote the versatile uses of concrete in construction.

house price decline1BOSTON: 2017 was an excellent year for single family home sales in Connecticut with the year over year sales reaching an eleven-year high. December on the other hand was not a Christmas celebration for many real estate agents and home sellers as the month was down 9.4% compared to last year, prices did inch up 2.2% for the month.

Warren Group, publisher of The Commercial Record reported a total of 2,472 single-family homes were sold in Connecticut during the month of December, compared with 2,705 sold in December 2016. Meanwhile, the median price of a single-family home rose 2.2% in December to $245,000, compared with $240,000 a year ago.

100oak920x920TRUMBULL: An empty 78,692 square foot office building on 10.78 acres at 100 Oakview Drive will be demolished to make way for a new $30 million rental community of 202 units in six buildings offering the “latest luxury amenities and modern conveniences.”

Tim McMahon and Rich Lee of O,R&L Commercial represented the seller, Canon USA [former headquarters] and procured the buyer, Trumbull Developers, LLC [145 HUDSON STREET, NY, NY] The purchase price was $4,500,000. Canon USA headquarters is now in Huntington, NY.

Screen Shot 2018 01 23 at 10.22.28 PMPLAINFIELD:, CT Truckload carrier Western Express has purchased a 12.85-acre facility at 1293 Norwich Road for $1.75 million. Ron Lyman, CCIM, CEO of Lyman Real Estate, brokered both sides of the deal.

The property is two adjacent parcels and a 30,740 square foot building. This will be the ninth location for Western Express, which is based in Nashville, TN, and operates facilities across the country. The company has grown to become a large tier industry truckload carrier, running approximately 2,500 power units and more than 6,500 trailers, and reporting 2014 annual revenue in excess of $550 million.

The seller was P. Camp, LLC, of Jewett City, with procuring manager Ricky McDonald handling the transaction for Western Express.

45railroadaveWEST HAVEN: A 24,317 SF light Industrial / Flex building on 1.25 acres located across from the Metro-North West Haven train station at 45 Railroad Avenue. Richard S. Guralnick, CCIM of O,R&L Commercial in Branford represented the seller, L & A Realty. The buyer, Pinpoint Promotions & Printing, LLC, currently in Stratford was represented by Steve Gentile of Keller Williams Realty. Pinpoint will move their full service, marketing and production agency to this new location.    

The property sold for $830,000 and was was formerly occupied by Manufacturers Associates, Inc.

 

redfinFAIRFIELD: Connecticut has a new real estate company that is hoping that their expertise in software and digital marketing will allow them to disrupt the traditional real estate sales model.

Redfin [NASDAQ: RDFN] is a Seattle, WA based pubic company with $2.6 billion market cap they call themselves “the next-generation real estate brokerage”. The company says it “pairs personal service from Redfin agents with technology to create a better home-buying and selling experience that costs less.”

katsmanHAMDEN: Elina Katsman has joined the Press/Cuozzo Realtors “commercial services team.”.

Katsman was born in the USSR, and grew up in Tel-Aviv, Israel, where she worked as a marketing professional, leading accounts of the largest national and international companies. In 2013 she moved to the US and settled in Hamden, speaks Russian, Hebrew, and English.

Katsman holds a B.A in communications & business from the Israeli College of Management and has 10 years of experience in marketing communication. Her professional career started with a public relations firm specializing in real estate, then continued to include small start-ups, B2B customers, and large multinationals.

turtle creek aptsEAST HARTFORD: The 120-unit apartment Turtle Creek Apartments complex was sold for $8 million, $66,666 per unit.

Steve Pappas of the Hartford office of investment broker Chozick Realty Inc. represented both the seller, Turtle Creek Realty and purchaser, Up Realty LLC, a New York based investment group.

The complex was constructed in 1968 the property and according to Chozick received new amenities in the late 1980s, including an indoor swimming pool, jacuzzi, steam room and sauna, a full commercial kitchen and dining room for resident functions, an indoor running track, miniature golf course, fitness rooms, a billiards room, media room and library.

ritz grande apartments hartford ct building photoHARTORD: The Ritz Grande Apartments was sold for $3.7 million, to Aria Legacy Group (ALG), its the company’s 16th multifamily investment in the city.

The 58-unit complex located at 29 Annawan Street is a mix of fully remodeled one to four-bedroom apartments. Amenities at the complex include on-site laundry, a playground, basketball courts and off-street parking. The property is located near neighborhood shopping outlets and Dillon Stadium.

“This acquisition excites us because Connecticut, and especially Hartford, has been one of our best success stories to date,” said Joe Novoseller, managing principal of ALG.

calabroNEW HAVEN: The Connecticut Chapter of the American Institute of Architects has appointed Gina Calabro to Executive Director. AIA Connecticut serves as a resource to architects and the public. Its membership of over 1,300 is comprised of architects, professionals working towards licensure, architectural students, and professionals in affiliated fields.

Calabro's has more than 25 years of executive planning, administration, communications, and marketing experience in both the private and non-profit sectors. Calabro was the CEO at the Home Builders and Remodelers Association of Fairfield County and prior to that was the Director of Membership and Marketing for the Connecticut Conference of Municipalities.

south side view district rendering previewBy Mitchell Young

NEW HAVEN: In December 2014, digital media entrepreneurs David Salinas and Peter Sena founders of Digital Surgeons a New Haven digital marketing firm with 45 employees were seeking a new location.

Like many other growing New Haven companies they needed a lot of space and parking. DS was growing at 1175 State Street, the Robby Len [Swimsuit factory] Building, first constructed to house Trolleys in the early part of the last century, but they weren’t happy with the status and condition of the building and wanted to own and control their own space.

The pair criss-crossed Greater New Haven looking for a new nest for the fast growing company, but nothing was coming that met their specs.

yalecityNEW HAVEN: Yale University is extending The Yale Homebuyer Program, for another two years, through Dec. 31, 2019.

The program that gives permanent Yale University employees working 20 or hours or more a week a substantial income benefit if they purchase a home to own and occupy in designated areas in the city.

The program was first established in 1994, provides up to a $30,000 total benefit to participants: a $5,000 first-year bonus and an annual $2,500 grant for up to 10 years to university faculty and staff as long as they continue to own and live in the home and remain employed by Yale.

According to the University, 1,221 Yale faculty and staff have benefited from the program since its inception. They have purchased homes with a total market value at time of purchase of more than $237 million and have benefited from $31 million provided by Yale since 1994.

ulgadeTORRINGTON: Greg Ugalde, a builder and developer with more than 25 years of experience in the Connecticut home building industry, was elected as the 2018 first vice chairman of the National Association of Home Builders [NAHB[. The election was made during the association’s International Builders’ Show in Orlando, Fla.

Ugalde is president and chief legal officer of Torrington-based T&M Building Co., Inc., one of the largest home builders in the state. Since its founding in 1962, T&M has built more than 3,500 new homes in more than 40 Connecticut communities. He is also the founder and owner of GFU Investments LLC, a builder/developer minority-owned business that focuses on urban development.