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

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 been sparring with his fellow Democrats in the House of Representatives…
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CT Single-Family Sales Rise By Double Digits In July, Condo Prices Drop

HARTFORD: Single-family home sales in Connecticut jumped 12.7 percent in July compared to July of 2016, according to the latest report from The Warren Group, publisher of The Commercial Record. A total of 3,641 single-family…
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Facebook Building Out New England Operations

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 top tier tech town, with only 150 employees. That Facebook status change…
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Stamford Office Tower Sells Just Shy of $100 Million

STAMFORD: Stamford Towers two adjacent class A office building have sold for $97 million. The buildings were last sold in1998 for $61.3 million to the seller Manhattan based commercial real estate firm SL Green Realty Corp.…
jobs

Coastal Fairfield County Job Growth Weak

WASHINGTON: The US Department of Labor has cited the Stamford- Bridgeport metro in the bottom third of US regions for job creating in July. The region had a 1% increase in jobs [4000] compared to the previous year. The New…
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Bank Signs Exclusive Bank Marketing Agreement With UConn Football

FARMINGTON:- Farmington Bank and UConn Athletics have signed an exlcusive marketing agreement. Farmington Bank, has assets of $3.0 billion, and is a wholly-owned subsidiary of First Connecticut Bancorp, Inc. [NASDAQ:FBNK].…
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Connecticut's Top Forty Fastest Growing Tech Cos Announced

HARTFORD: The Connecticut Technology Council (CTC) and Marcum LLP today announced the 2017 Marcum Tech Top 40, an annual recognition of the fastest growing technology companies in Connecticut. This year’s group of top-ranked…

Middle Market Firms Drive US - CT 17th Nationwide

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A new research report American Express and Dun & Bradstreet Middle Market Power Index Series Finds That mid-sized firms are…

Pentagon, Sikorsky Sued Over Small-Business Contracts

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By: Ana Radelat ctmirror.com WASHINGTON: A group representing small businesses is suing the Pentagon and Sikorsky for…

Independent Survey: Subway Most Trusted Quick Service Restaurant

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By Mitchell Young SANTA ANA, CA: The Values Institute [TVI] released the results of the 2017 National Most Trustworthy…

New Haven Bio-tech Merges With Public Co. Gains Access to $175 Million in Cash and A Pipeline

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NEW HAVEN: Melinta Therapeutics is merging with Cempra, Inc. [Nasdaq: CEMP],of Chapel Hill, NC. a clinical-stage…
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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…
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Dems Say Yes To Pot Cash, Casinos, Big Cuts To Munis

Democrats would slash municipal aid, allow casino, legalize pot By Keith M. Phaneuf ctmirror.com Hartford: House and Senate Democrats Tuesday recommended opening a new casino, legalizing marijuana and imposing deep cuts to…

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…

That’s The Spirit, Bradley Adds New Airline to The Mix

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Windsor Locks: Will Connecticut residents have something new to complain about or will they revel in a new low cost travel…

Health

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Health Exchange CEO Says Insurers May Drop Out for 2018

On August 2nd Jim Wadleigh CEO of Access Health, Connecticut’s ACA [Obamcare] health exchange. Said that concerns that the Trump Administration might…
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Even With Obamacare’s Survival, A Shakeup In CT Healthcare System Threatens

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…

Hospitals Worry Medicaid, Obamacare Changes Could Bring Pain

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By, Arielle Levin Becker [This is a significantly edited version, the complete article can be found at ctmirror.com] With the potential for major…

Technology

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Facebook Building Out New England Operations

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…
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Connecticut's Top Forty Fastest Growing Tech Cos Announced

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…

Crowdfunding & Cause-Related Marketing Seminar In Fairfield

Thursday, June 22, 2017 from 7:00 PM to 8:30 PM EDT Fairfield Library 1080 Old Post Rd. Fairfield Crowdfunding & Cause-Related Marketing "The New…

Fuel Cell Picks Up Some Financial Energy

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Danbury: FuelCell Energy Inc. [Nasdaq: FCEL] stock went on a world wind trip this week losing 10% of it value on a single day May 2. The stock closed…

Milford Fisheries Lab Invents “Man Overboard” Rescue Device

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Milford: Northeast Fisheries Science Center's Milford Laboratory has developed a “Man Overboard” rescue Device. The device is the invention of Robert…

CT Tech By The Numbers

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Fifty State Tech Reports Present Connecticut Data CONNTACT.com Compiled Comparisons With Our State Neighbors Below The state of Connecticut and many…

CONNECTICUT INNOVATORS: Stitching Together A Next Generation Product

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A Global Healthcare Giant Engineers and Builds New In Connecticut By Mitchell Young NORTH HAVEN: Leon Hirsch was hoping to get his entrepreneurial…

Tech Council Selects Top Women Innovators From 50 Leaders

AWARD RELEASE HARTFORD: Fifty women from across Connecticut were honored for their innovation and leadership during the thirteenth annual Connecticut…

Real Estate & Construction

Shelton Engineering Firm Acquired By Global company

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SHELTON: Leggette, Brashears and Graham, Inc. [LBG], an environmental engineering services firm headquartered in town and with 17 regional offices…

Suffield Economic Development Commission To Host Annual Familiarization…

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By Patrick McMahon Suffield: Every community has assets to market from an economic development perspective, and Suffield is no different. We have…

Shelton Industrial Campus Sells for $26.25 Million

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SHELTON: 710 Bridgeport Avenue LLC, controlled by RNY Property Trust, was sold for $26.25 million, to Sun Equity Partners, LLC. , Jeffrey Dunne and…

Stamford Office Tower Sells Just Shy of $100 Million

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STAMFORD: Stamford Towers two adjacent class A office building have sold for $97 million. The buildings were last sold in1998 for $61.3 million to…

CT Single-Family Sales Rise By Double Digits In July, Condo Prices Drop

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HARTFORD: Single-family home sales in Connecticut jumped 12.7 percent in July compared to July of 2016, according to the latest report from The…

New Haven Biotech Explodes in Value and Chooses Downtown for Headquarters

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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…

Realtor Adds 746 Chapel Street to Property Management Business

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WOODBRIDGE: Levey Miller Maretz announced they have expanded its property management business, ading 746 Chapel Street,a mixed use ofice and retail…

New Haven Rents Soften Up A Bit, High But Cheaper than San Fran - Duh

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NEW HAVEN: According to the monthly reports by Apartmentlist.com, rents in New Haven have declined 0.8% over the past month, while still being up…

Home Sales Volume Continues To Increase, Condos Still Strongest

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BOSTON: The Warren Group, publisher of The Commercial Record. Reports that single-family home sales in Connecticut jumped 8.7 percent in June…

Colliers Reports Two Leases in Greater Hartford

NEW BRITAIN, HARTFORD: Colliers International signed two meaty leases in the past month. Stone Valley Granite & Marble held their ribbon cutting in…

Government

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…

Sales Tax Hike Seems An ‘Inevitability,’ But Questions Remain

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By, Keith M. Phaneuf and Mark Pazniokas ctmirror.com Connecticut’s top state senator said Wednesday he believes moderate Democrats are “growing…

Town Economic Developer Shares Vision and Cites "Wins"

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Tim Ryan Economic Development Specialist, Wallingford EDC. By Tim Ryan Economic Development Specialist, Wallingford EDC. WALLINGFORD: Let’s be real.…

Cities Part Ways With Dems On New Sales Taxes

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Connecticut Conference of Municipalities Executive Director Joe DeLong [Photo: KEITH M. PHANEUF] By Keith M. Phaneuf Ctmirror.org NEW HAVEN: One of…

State Employees Ratify Concessions By Wide Margin

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Union representatives at a press conference announcing the ratification of a concessions agreement with the state. Photo: Mark Pazniokas ctmirror.org…

Higher Sales Tax On Dems Picnic Table

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House Speaker Joe Aresimowicz, left, and House Majority Leader Matt Ritter keeping sales tax increase on the table. Sales Tax Hike Remains In Play As…

Getting it Wrong On Alexion. We Have Met The Enemy, And It Is You

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By Mitchell Young Former Democratic Governor Ella Grasso famously made a home cooked meal for Miles Laboratories, [Bayer Pharmaceuticals] executives…

With Trump's Legal Pick Lieberman Is Likely Off FBI Job List

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By Ana Radelat ctmirror.com Trump Picks Lieberman Associate Kasowitz As Personal Lawyer In Russia Probe Washington – President Donald Trump’s…

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® .