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New Haven Company Raises $18 Million for Next Generation Computer Tech

NEW HAVEN: Two seasoned Venture investors have led an $18 million Series A investment into New Haven Quantum Circuits Inc [QCI] The new funds came from Canaan and Sequoia, and Tribeca Venture Partners, Osage University…
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Fed Tax Bill Would Bang CT Homeowners and Small Biz

By: Ana Radelat | ctmirror.com Senate tax bill would have big impact on CT homeowners, small businesses Senate Finance Committee Chair Orrin Hatch, R-Utah, and Senate Majority Leader Mitch McConnell, R-Ky, spoke briefly to…
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WHAT IS WRONG WITH NICK BALLETO?

OPINION It hard to overstate how completely unacceptable this press release is from Connecticut Democratic Party Chairman, Nick Balletto. "CT Dems' statement on Big Y's decision to move from Cassetti's Ansonia to Dugatto's…
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Harbor Yard Stadium Conversion to Concert Venue Moves Forward

BRIDGEPORT: Baseball is officially out at Harbor Yard, as the City Council has approved a plan by the Mayor Joe Ganim to convert the stadium to a concert venue. The council had near unanimous approval with an 18-2 vote in…
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Alexion Sent On Market Tailspin Since Relocation, Reorganization…

By Mitchell Young Analysis and Opinion: NEW HAVEN: Alexion’s [NYSE: ALXN] New CEO Ludwig Hantson may hope to exit one college town for another [Boston], but investors appear to be giving Hantson and his board of directors a…
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City Sues Connecticut Pharmaceutical Company

NEW HAVEN: The city has joined the parade of states and cities suing the privately owned Stamford, Connecticut based Purdue Pharma and other pharmaceutical companies over their marketing of opioids, such as Purdue’s,…
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Connecticut Property Taxes, Third Highest In Nation

Washington: The "tax reform" proposal by Republican's in the US House of Representatives will limit deductions for state and local taxes and mortgage interest. The impact on higher cost of living and higher tax states like…
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Economist Gioia: ‘Historic’ State Budget Will Boost Business Confidence

By: Keith M. Phaneuf | ctmirror.com A vice president and economist with the ConnecticutBusiness and Industry Association, Peter Gioia has spent the past 18 years with the state’s chief business lobby, managing its research…
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Connecticut Rental Rates Take A Breather After A Year of Increases

See Full List of Major Connecticut Cities Below CONNCECTICUT: Rents in cities across Connecticut saw a monthly dip in rent, running counter to a year long trend. New Haven county rents have posted the steepest annual…
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Many Connecticut Public Companies Would See Lower Corporate Taxes With…

WASHINGTON: The Republican House of Representative has presented a corporate tax reduction plan from 35% to 20%. The website WalletHub.com issued a report on 2016 tax rates at the state, federal and international levels in…

AETNA- CVS HOOKUP COULD HAPPEN BY DECEMBER

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UPDATE FROM REUTERS> By Mitchell Young WOONSOCKET, RI: Aetna [NYSE: AET] CEO Mark Bertolini probably won’t be enjoying the…

After 117-Day Marathon, Senate Passes Bipartisan Budget

By: Keith M. Phaneuf, Jacqueline Rabe Thomas and Mark Pazniokas | ctmirror.com HARTFORD: A newly united Senate took a major…

AIA CT Design Awards 2017

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AIA Connecticut announced 17 recipients in its annual, comprehensive, 2017 Design Award program that recognizes design…

New Haven: Don’t Send AIRBNB Off The Runway

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OPINION Is New Haven remaking its “model cities” 1960s vision or is it the Next Wave “Greatest Small City in America,” that…
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New Haven Biotech Explodes in Value and Chooses Downtown for Headquarters

By Mitchell Young NEW HAVEN: A newly public Bio-tech holding company Biohaven [ NYSE: BHVN] has chosen a high profile former bank building in the city’s Central Business District for its new headquarters. The moves comes as…
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Alexion: Blame It On Brazil or Kanuma -The Stock Dives, And The Movers Get…

Alexion's New CEO Ludwig Hantson is making major executive changes By Mitchell Young New Haven: In spite of unexpected sales and earnings growth announced by Alexion Pharmaceuticals [Nasdaq: ALXN] just weeks ago, the…
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With Trump's Legal Pick Lieberman Is Likely Off FBI Job List

By Ana Radelat ctmirror.com Trump Picks Lieberman Associate Kasowitz As Personal Lawyer In Russia Probe Washington – President Donald Trump’s decision to hire attorney Marc Kasowitz to serve as his private lawyer during…
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Rescigno to Retire from Greater New Haven Chamber of Commerce

CHAMBER RELEASE New Haven, CT (May 22, 2017) – After 17 years of service as the President of the Greater New Haven Chamber of Commerce (GNHCC), Anthony Rescigno announced today his plans to retire on December 31, 2017. A…

Dems Say Yes To Pot Cash, Casinos, Big Cuts To Munis

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Democrats would slash municipal aid, allow casino, legalize pot By Keith M. Phaneuf ctmirror.com Hartford: House and Senate…

Senate GOP Not Ready To Share CT Budget Fix With The Public

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By Keith M. Phaneuf ctmiror.com Another question of public access arose Monday in the struggle to balance the next state…

Health Insurers Seek Big Rate Hikes, Blame Obamacare’s Uncertain Future

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By Ana Radelat ctmirror.com Hartford: The state’s health insurers are asking for sizeable rate increases for individual and…

Auto Dealers Cite Tesla Cheating Report, To Stop Exemption Bill

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Dealers Are Charging Up to Challenge Tesla - with Cars Too The DMV report says Tesla's Greenwich showroom violated…

Casino Revenues Stable, Foxwoods Weak, Mohegan Up

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Mashantucket, Uncasville: Connecticut’s casinos have reported mixed results for April. Foxwoods reported slot revenue of…

After Layoffs, Investigation, New CEOs - Alexion Reports Results

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By Mitchell Young New Haven: Worry warts that reacted to Alexion Pharmaceuticals, Inc.’s [Nasdaq: ALXN] announcement that it…

Health

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City Sues Connecticut Pharmaceutical Company

NEW HAVEN: The city has joined the parade of states and cities suing the privately owned Stamford, Connecticut based Purdue Pharma and other…
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So Far Only Lobster Pot in Maine

AUGUSTA: Not everyone is willing to toke up for some taxes. Like Connecticut legislators, Maine’s Governor Paul LePage was not willing to allow…

AETNA- CVS HOOKUP COULD HAPPEN BY DECEMBER

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UPDATE FROM REUTERS> By Mitchell Young WOONSOCKET, RI: Aetna [NYSE: AET] CEO Mark Bertolini probably won’t be enjoying the commanding view of the New…

Connecticut Chambers of Commerce Respond To Health Care Premium Increases

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HARTFORD: Connecticut Chamber of Commerce executives and their health insurance marketing partner the Chamber Insurance Trust announced they are…

Health Exchange CEO Says Insurers May Drop Out for 2018

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On August 2nd Jim Wadleigh CEO of Access Health, Connecticut’s ACA [Obamcare] health exchange. Said that concerns that the Trump Administration might…

Even With Obamacare’s Survival, A Shakeup In CT Healthcare System Threatens

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By, Ana Radelat ctmirror.com WASHINGTON:– Even though the U.S. Senate failed to repeal the Affordable Care Act, there will potentially be changes to…

CT Health Exchange Scaling Back Retail Outreach

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Access Health CT CEO, James Wadleigh Dropping Retail Locations in New Haven and New Britain Kyle Constable ctmirror.org HARTFORD: Facing a shortened…

Health Insurers Seek Double-Digit Rate Increases

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By: Kyle Constable ctmirror.org Connecticare actuary Kelsey, tries to lay out the numbers behind the company's proposed rate increases. Hartford: Two…

Starling Roosts In New Nest East of The River

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Glastonbury: A leading physician owned multispecialty medical practice Starling Physicians hasexpanded east of the river at 289 Western Boulevard.…

Health Insurers Seek Big Rate Hikes, Blame Obamacare’s Uncertain Future

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By Ana Radelat ctmirror.com Hartford: The state’s health insurers are asking for sizeable rate increases for individual and small-business policies…

Connecticut Health Plans Not Happy With Trump ACA Overhaul

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Insurers: Trump hasn’t committed to payments that would keep them in ACA exchanges By Ana Radelat ctmirror.com Washington: Despite reports to the…

St. Vincent's Hospital Says No Sale Imminent

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BRIDGEPORT: In meetings in late February [see report] hospital executives told employees that it was considering a potential sale or merger in the…

What The GOP Obamacare Replacement Bill Means For You And CT

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By, Arielle Levin Becker, ctmirror.com Members of Congress will begin moving forward today with efforts to pass the American Health Care Act, a…

Hartford Insurance Execs Looking For A Friend In Washington

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By Mitchell Young WASHINGTON: Aetna [NYSE: AET] and Cigna [NYSE:CI] have watched their huge mergers collapse this month under the weight of lawsuits…

CT Hospitals Launch TV Ad To Protest New Tax Proposal

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By: Keith M. Pahneuf, ctmirror.com Connecticut’s hospital industry launched a new television ad Thursday to protest Gov. Dannel P. Malloy’s proposal…

Technology

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New Haven Company Raises $18 Million for Next Generation Computer Tech

NEW HAVEN: Two seasoned Venture investors have led an $18 million Series A investment into New Haven Quantum Circuits Inc [QCI] The new funds came…
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VentureClash Announces Winners of $5 Million Global Investment Challenge

ROCKY HILL: Connecticut Innovations [CI] Connecticut’s quasi public venture capital organization announced the winners of its VentureClash, $5…

Connecticut Venture Group and ResultsJunkies In Fairfield, Hamden and…

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Crossroads Venture Group's (CVG) Investor, Entrepreneur & Resource Network will be traversing around CT with Paul Singh's ResultsJunkies North…

Nine Foreign Companies selected for Connecticut Innovations Venture Clash…

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Nine companies from around the globe compete for $5 million in investments ROCKY HILL: Connecticut Innovations (CI), the state;s quasi public venture…

Tech Council To Host "Scale Up" for Emerging Companies

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ScaleUP CT is a half-day event that will focus on supporting the emerging growth companies. November 2 at the Omni Hotel. Scale Up is presented by…

Connecticut's Fastest Growing Tech Companies Cited

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HARTFORD: The Connecticut Technology Council (CTC) and Marcum LLP announced the winners of the 2017 Marcum Tech Top 40, the tenth annual awards…

Facebook Building Out New England Operations

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Cambridge, Mass. Facebook which was started in Cambridge by Mark Zuckerberg a then student at Harvard has had only a minor prescence in New England’s…

Connecticut's Top Forty Fastest Growing Tech Cos Announced

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HARTFORD: The Connecticut Technology Council (CTC) and Marcum LLP today announced the 2017 Marcum Tech Top 40, an annual recognition of the fastest…

Long Island Giving an Energy Boost to Connecticut Fuel Cell Company

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By MItchell Young DANBURY: Fuel Cell Energy [Nasdaq: FCEL] may finally be lifting its head off mat as its receives one of the largest fuel cell…

West Hartford Med Tech Company Raises $1.9 Million

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WEST HARTFORD: ReadyDock develops tablet docking stations for tablet PCs used in the medical and laboratory, food, clean facilities, and education…

Real Estate & Construction

Connecticut Rental Rates Take A Breather After A Year of Increases

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See Full List of Major Connecticut Cities Below CONNCECTICUT: Rents in cities across Connecticut saw a monthly dip in rent, running counter to a year…

Connecticut Home Sale Prices Decline

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HARTFORD: Single-family home sales in Connecticut jumped 2.98 percent in September compared to September 2016, according to the latest report from…

Connecticut Property Taxes, Third Highest In Nation

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Washington: The "tax reform" proposal by Republican's in the US House of Representatives will limit deductions for state and local taxes and mortgage…

Transit Oriented Development Rolls Into Windsor

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WINDSOR: Visions of a transit oriented development following the new Springfield to New Haven Rail have come to fruition in Windsor. On October 20,…

LaMonica Appointed President of REFA of Connecticut

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HARTFORD: The Hartford chapter of the Real Estate Finance Association of Connecticut (REFA-CT) has named Paul LaMonica, president. LaMonica, senior…

Willow Creek Breaks Ground In Blue Hills

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HARTFORD: Construction has begun with a groundbreaking in late October on the new Willow Creek apartments in the Blue Hills section of the city. The…

Hoffmann Architects Celebrates 40 Years

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HAMDEN: Hoffmann Architects, an architecture and engineering firm specializing in the rehabilitation of building exteriors, is commemorating the…

AIA CT Design Awards 2017

361520 GrayOrganschi MillRiver preview
AIA Connecticut announced 17 recipients in its annual, comprehensive, 2017 Design Award program that recognizes design excellence in projects in…

New Haven: Don’t Send AIRBNB Off The Runway

aribnb
OPINION Is New Haven remaking its “model cities” 1960s vision or is it the Next Wave “Greatest Small City in America,” that is the question. New…

Hamden Buildings Fetch $3.15 Million

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HAMDEN: Town Hall Center LLC [Chris Nicotra, Olympia Properties] sold a two building mixed use portfolio located at 2340-2348 Whitney Avenue for…

Government

Tax Commissioner: GOP Plan, Many in State to Pay More

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By: Ana Radelat | ctmirror.com State Department of Revenue Services Commissioner Kevin B. Sullivanctmirror.com Washington – Connecticut Commissioner…

Survey, CT Residents "Take Care of The Basics"

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CONNECTICUT: A new survey by administered by the quasi-government Connecticut Economic Resource Center [CERC] says that residents are concerned about…

Fed Tax Bill Would Bang CT Homeowners and Small Biz

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By: Ana Radelat | ctmirror.com Senate tax bill would have big impact on CT homeowners, small businesses Senate Finance Committee Chair Orrin Hatch,…

Economist Gioia: ‘Historic’ State Budget Will Boost Business Confidence

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By: Keith M. Phaneuf | ctmirror.com A vice president and economist with the ConnecticutBusiness and Industry Association, Peter Gioia has spent the…

Many Connecticut Public Companies Would See Lower Corporate Taxes With…

corporate tax
WASHINGTON: The Republican House of Representative has presented a corporate tax reduction plan from 35% to 20%. The website WalletHub.com issued a…

After 117-Day Marathon, Senate Passes Bipartisan Budget

By: Keith M. Phaneuf, Jacqueline Rabe Thomas and Mark Pazniokas | ctmirror.com HARTFORD: A newly united Senate took a major step early Thursday…

Car Tax Could Be Taken Off Road

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By: KEITH M. PHANEUF ctmirror.com State legislative leaders say they are strongly considering eliminating local property taxes on motor vehicles in…

CT: Tax and Fees On The Near Horizon, $600-$800 Billion

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Budget Debate: It’s Not How Much, But What Kind Of Revenue To Raise By, Keith M. Phaneuf ctmirror.com HARTFORD: For months Gov. Dannel P. Malloy has…

realtors2016The 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!”

Business Sale 

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. 

Industrial Sale

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.

Industrial Lease

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. 

Land Lease

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.

Land Sale

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. 

Office Lease 

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. 

Office Sale

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).    

Retail Sale

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.

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Retail Lease

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. 

Multi-Parcel Sale

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® .