January 17, 2018
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New Haven's New Tech District Is Right Around The Corner

By 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…
January 17, 2018
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Radio Daze as Five Stations Change Hands

HARTFORD Red Wolf Broadcasting of Ledyard has purchased five Connecticut radio stations from Connoisseur Media of Westport. The stations include WDRC-AM, WDRCFM, Hartford, WSNG, Torrington, WMMW, Meriden, and MOD 102…
January 17, 2018
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Large Scale Entertainment and Racing Facility Opening In Stamford

STAMFORD: Tesla is not the only electric vehicle making news in the Nutmeg State. RPM Raceway, which calls itself “America’s ultimate all-electric indoor karting and entertainment destination,” is bringing its “authentic…
January 17, 2018
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Class A Space Fills In 2017 – Loosens as Fairfield and New Haven Counties…

By Mitchell Young STAMFORD, NEW HAVEN: Colliers International [NASDAQ:CIGI] released their annual and quarterly office leasing activity reports for Fairfield County. The County’s leasing activity for 2017 reached the second…

New Haven Biotech’s Drug is "BioEquivalent" To Standard ALS Drug

Jan 17, 2018
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NEW HAVEN: Biohaven Pharmaceutical Holding Company Ltd. [NYSE:BHVN] announced positive results of its bioequivalence study…

Hartford’s Insurance Employees Get Some Respect and Dough

Jan 17, 2018
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HARTFORD: Good news finally for employees of Hartford based insurance companies. First off some ready money as both The…

Pressing Question for CT: A State Tax Break for Private School Tuition?

Jan 16, 2018
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By: Jacqueline Rabe Thomas | ctmirror.org The federal tax overhaul may have triggered an automatic state tax break that…

Tax Bill May Make 2018 A Wild Year For CT Divorces

Jan 16, 2018
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By: Ana Radelat | ctmirror.org Washington – Meghan Freed, who practices family law in Hartford, said the massive tax…

Luckey Climbers To Build Bigger With New Haven Facility Purchase

Jan 04, 2018
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NEW HAVEN: Luckey Climbers will be moving into a new facility at 300 East Street after a purchase by 300 East Street LLC…

New Haven Biotech – Enters Agreement With Pfizer Worth More than $830 Million

Jan 05, 2018
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NEW HAVEN: The privately owned biotech Arvinas LLC, based on research by Yale’s Craig Crews, entered a license agreement and…

Alexion Regains its Stock Footing And Makes Peace Agreement With Activist

Jan 05, 2018
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Opinion and Analysis By Mitchell Young Alexion Board Chair David Brennan Activist Investor, Paul Elliott Singer NEWHAVEN:…

State Seeks More Medical Marijuana Sellers

Jan 05, 2018
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HARTFORD: US Attorney General Jeff Sessions may be trying to arrest the increase in marijuana sales in states across the…

Opposition Forms to Feds Proposal Opening North Atlantic to Oil Drilling

Jan 05, 2018
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By: Ana Radelat | ctmirror.com Ocean Confidence is a semi-submersible deep-water drilling rig used in the Gulf of Mexico.…

Health

Wallingford Medical Device Company Launches Product To Control Internal…

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WALINGFORD: Z-Medica, LLC, a developer of hemostatic devices, announced that QuikClot Control+® approved by the FDA in June of 2017 is now…

Children's Hospital Invests In Mass. Biotech

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HARTFORD: Connecticut Children's Medical Center has made an investment in a small Massachusetts based biotech company Biostage, Inc. [OTCQB:…

State Seeks More Medical Marijuana Sellers

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HARTFORD: US Attorney General Jeff Sessions may be trying to arrest the increase in marijuana sales in states across the country, but Connecticut is…

Chester Retirement Community Sold

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CHESTER: Chester Village West set on 55 acres with 105 cottages and apartments was purchased by Masonicare, based in Wallingford, the state’s largest…

ACA Mandate Gone, State Eyes Imposing Its Own

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By: Ana Radelat | ctmirror.com Washington – As Congress is about to vote on a tax overhaul that will gut the Affordable Care Act’s mandate that most…

Access Health projecting 2018 Enrollment Will Match Last Year’s

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By: Mackenzie Rigg | CTmirror.com Access Health CEO Jim WadleighKyle Constable / CTMirror.org HARTFORD: With about three weeks left in open…

Feds: State Can Impose Work Requirement for Medicaid Recipients

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Medicaid chief: Feds are willing to approve work requirements By: Phil Galewitz | Kaiser Health News | Seema Verma, head of the Centers for Medicare…

City Sues Connecticut Pharmaceutical Company

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NEW HAVEN: The city has joined the parade of states and cities suing the privately owned Stamford, Connecticut based Purdue Pharma and other…

So Far Only Lobster Pot in Maine

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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…

Technology

New Haven's New Tech District Is Right Around The Corner

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By Mitchell Young NEW HAVEN: In December 2014, digital media entrepreneurs David Salinas and Peter Sena founders of Digital Surgeons a New Haven…

Nigerian National Pleads Guilty in E-Mail Scheme Defrauding Connecticut…

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NEW HAVEN: John H. Durham, United States Attorney for the District of Connecticut, and Patricia M. Ferrick, Special Agent in Charge of the New Haven…

Two Fast Growing Bank Service Companies Set Joint Marketing Plan

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Leaders in Core and Compliance Management Services Working Together to Expand the Deployment of the Unified Compliance Management Model in the…

Datto Founder Donates $50 Million to Alma Mater

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STAMFORD: Austin McChord, founder and CEO of Datto, one of Connecticut’s fastest growing tech companies has donated $50 million to the Rochester…

Glastonbury Financial Service Company Raises $6 Million From Strategic…

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GLASTONBURY: Payrailz, a digital payments company offering advanced bill payment and money transfer solutions to banks and credit unions, announces…

FuelCell Energy and Toyota Announce Renewable Transportation Fuel Project

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DANBURY: Some good news comes to Fuel Cell Energy [NASDAQ: FCEL] with an agreement with Toyota to purchase hydrogen for vehicle refueling at the Port…

UCONN Incubation Companies Exceed Funding Target

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STORRS: UCONN Technology Incubation Program companies have raised $54 million in financing in 2017, exceeding the programs $50 million goal and…

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

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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…

VentureClash Announces Winners of $5 Million Global Investment Challenge

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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…

Real Estate & Construction

New Haven's New Tech District Is Right Around The Corner

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By Mitchell Young NEW HAVEN: In December 2014, digital media entrepreneurs David Salinas and Peter Sena founders of Digital Surgeons a New Haven…

University Extends Support For Employees to Buy In City

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NEW HAVEN: Yale University is extending The Yale Homebuyer Program, for another two years, through Dec. 31, 2019. The program that gives permanent…

Connecticut Builder Elected As Vice Chair of the National Association of…

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TORRINGTON: Greg Ugalde, a builder and developer with more than 25 years of experience in the Connecticut home building industry, was elected as the…

Large Scale Entertainment and Racing Facility Opening In Stamford

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STAMFORD: Tesla is not the only electric vehicle making news in the Nutmeg State. RPM Raceway, which calls itself “America’s ultimate all-electric…

Vacant River Building Sold, $1 Million Bulkhead To Be Constructed

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NEW HAVEN: Patriot Marine, LLC, a dredging and maritime construction company based in Winthrop, MA, has purchased 90 River Street, New Haven, an…

Hartford’s Insurance Employees Get Some Respect and Dough

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HARTFORD: Good news finally for employees of Hartford based insurance companies. First off some ready money as both The Hartford [NYSE: HIG] and…

Class A Space Fills In 2017 – Loosens as Fairfield and New Haven Counties…

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By Mitchell Young STAMFORD, NEW HAVEN: Colliers International [NASDAQ:CIGI] released their annual and quarterly office leasing activity reports for…

Rental Complex Sells for More Than $330,000 Per Unit

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SHELTON: Located at 100 Avalon Drive, the 99-unit Avalon Huntington apartment complex built in 2008 has sold for $33 million. The property is…

New Haven Renters Give City an F on Economy and Apartments While Rents Rise

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NEW HAVEN: New Haven rents declined significantly in December [.05%] according to apartmentlist.com but are still up significantly by 4.5% in…

Fairfield Retail Location Sells for $3.1 Milion

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FAIRFIELD: the sale of 1876 Black Rock Tpke. was sold for $3.1 million, Baldwin Pearson & Co., Inc., handled the transaction. George Shawah Jr.,…

Government

Tax Bill May Make 2018 A Wild Year For CT Divorces

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By: Ana Radelat | ctmirror.org Washington – Meghan Freed, who practices family law in Hartford, said the massive tax overhaul surprised divorce…

Murphy and Blumenthal Vote Against Government Funding Bill

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By: Ana Radelat | ctmirror.com Washington – With the clock ticking toward a government shutdown, the U.S. House and Senate on Thursday approved a…

An Accountant's View of Tax Plan's Impact On Connecticut

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Andrew Lattimer, a certified public accountant and partner at BlumShapiro. By: Ana Radelat | ctmiror.com As a historic overhaul of the nation’s tax…

Final Tax Bill Better For CT Homeowners, Students - Yale Gets Hit

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By: Ana Radelat | ctmirror.com Washington – As House and Senate negotiators of a final tax bill worked to finish the plan Thursday, changes were made…

What Are They Smoking Up There?

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HARTFORD: Even as a mayor who wants to be Governor calls on the state to “oversee” a dysfunctional government, the Hartford Court of Common Council…

Connecticut Seeks Revenue through CT Fresh Start Tax Program

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HARTFORD: Connecticut is hoping to bring in $85 million with a “voluntary” tax compliance program, Fresh Start for both individuals and business.…

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…

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® .