Real Estate Sales August 2012

Former Woolen Mill Sold

BEACON FALLS — Beacon Mill Village, 2 North Main Street, a 188-unit condominium-style multifamily residential complex on the banks of the Naugatuck River, has been acquired by UOB Eagle Rock Multifamily Property Fund, LP for $21.7 million. The "/books/buyxanaxonline//#here">here was BMV Associates, LLC. The 184,000-square-foot property includes eight historic buildings originally constructed between 1851 and 1911 as a mill for the Home Woolen Co. The property was converted to residential units in 1988. Steve Witten and Victor Nolletti of Institutional Property Advisors represented the seller in the transaction.

 

New Home for the Homeless

BRIDGEPORT --- Viking Construction recently completed a new 25,000-square-foot housing project for homeless veterans in Griswold. Viking was general contractor for the $4.5 million project, which involved demolishing two homes, renovating a three-story brick building and constructing a new addition to create 18 one-bedroom, wheelchair-accessible apartments.

Viking also has installed 126 solar panels on the "http://www.lanepl.org/lib//#here">here of its Bridgeport headquarters. The panels generate 30 percent of the company’s electricity needs.

"Viking has long been using energy-efficient products and solutions for the buildings we construct,” said company President Anthony Gaglio Sr. in a statement. "This solar project is one more step in that direction.”

 

Cooll Customer in Hamden

HAMDEN –– Taylor Freezer has paid $250,000 for a 20,000-square-foot building at 130-150 Welton Street.

Stephen Press of Press Cuozzo represented the buyer, while Rich Lee of OR&L Commercial represented the owner, People’s United Bank.

“Taylor will use about two thirds of the space and lease the rest,” said Hamden economic development director Dale Kroop. The company also will benefit from a city business incentive program giving it a 100-percent waiver of building permit fees and a 50-percent tax abatement for three years on building improvements, Kroop added.

In 2011, nine businesses used the program when leasing or buying commercial properties in Hamden.

Kroop expects at least that many for 2012. In the last couple of months businesses receiving grant money and waiver of permit fees include Deric Currie Insurance, which purchased a commercial condo at 3208 Whitney Avenue.

“We have approved more than 100 applications since the program got underway in 1999,” Kroop said. “I don’t think many suburban communities offer as much as we do. We focus on small businesses which really need this help.”

 

Residential/Commercial Sale

HAMDEN –– GTB Properties has purchased a 1,200-square-foot residential unit and 2,400-square-foot commercial building at 330-336 Welton Street for $280,000. Albert Scafati of Press Cuozzo represented the buyer and seller, Donna Oliveri.

 

Milford Showcase Sold

MILFORD — Fairfield developer Ceruzzi Properties, LLC has paid $5.8 million for the former Showcase Cinemas at 230 Cherry Street. National Amusements, the seller of the nine-acre site, never listed it with a broker, according to Bob Gregory, Milford’s director of economic and community development. Ceruzzi, which redeveloped a Post Road [Ryder] mobile home park into a mall anchored by Walmart and transformed the Milford Jai Alai on Old Gate Lane into a Lowes, apparently is mulling over options for the property. “We like what [company principal Louis CVeruzzi] does,” Gregory said.

 

Zink Buys in N. Branford

NORTH BRANFORD –– Philip Zink has purchased a vacant 20,000-square-foot industrial building at 27 Ciro Road for $575,000. Joel Galvin of Pearce Commercial Real Estate represented the sellers, Christian Jensen and Paul Tupey. Bill Parry of Joy Real Estate represented the buyer.

 

No School for Scandal

FARMINGTON –– Miss Porter’s School has paid $810,000 for the Grist Mill Restaurant on 1.7 acres at 44 Mill Lane. Stephen Press of Press/Cuozzo represented the sellers, the Trustees of the Estate of Mario Zacco, who transformed the 5,600-square-foot 17th-century mill into the restaurant more than two decades ago. Gayle Talbo and Bruce Cagenello of Prudential Connecticut Realty represented Miss Porter’s, whose campus abuts the restaurant property.

 
Should Connecticut Give Special Incentives to Individual Companies?
 

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