kitchenNORTH HAVEN: Kitchen Advantage, LLC, will relocate their kitchen design showroom to 276-278 State Street, from their Washington Avenue location.

The company has purchased the 5,742 square foot property for $642,000. The buyer was represented by Gary G. Bookor & Associates and the seller by Stephen Press, SIOR, of Press/Cuozzo of Hamden.

The property was a free sanding building sitting on .61 acres and was vacant at the time of the sale.

440 New BritainPLAINVILLE: The Medical Office Building at 440 New Britain Avenue, a 27,685 square foot facility sold for $5.5 million. Holliday Fenoglio Fowler, L.P. (HFF) of Hartford marketed the property for the owner, Tomasso Brothers, Inc. The buyer, is Atkins Companies, a West Orange, N real estate and development company.

The transaction follows Physician Realty Trust’s 2017 $30 million purchase of the adjacent Medical Arts Building, also handled by HFF.

25 Norwich

NORTH STONINGTON: The Electric Boat Corp has signed a lease for a 125,000 square feet including 72,439 square foot high bay warehouse space at located at Eagle Park, 25 Norwich Westerly Road situated on 35 acres. The building owned by Mashantucket Pequot Tribal Nation (MPTN) also contains 53,376 square feet of office space. EB will occupy the entire building based on their expectedexpansion requirements. According to the New London Day newspaper, EB is expected to move 400 design and engineering staff to the facility.

David Rozen, CFO of MPTN said, “This agreement makes sense from a business perspective, while also supporting our neighbor Electric Boat and maintaining our commitment to the local economy.”

John Cafasso, CCIM, of Colliers International secured the long term lease.

slam merger frank webbGLASTONBURY: The S/L/A/M Collaborative (SLAM), architects with offices in Connecticut, Georgia, New York and Massachusetts announced a merger with Frank Webb Architects (FWA), located in Los Angeles, California.

According to the a release from Slam “the two companies share a passion for innovation, technology and creativity and have a strong culture rooted in delivering long-term value to their customers.”

The merger, was finalized on September 1.

The Digital Magazine
of AIA Connecticut

SEPTEMBER 2018
In this issue:

  • Building the Future of AIA Connecticut
  • Member Spotlight: Hoffmann Architects
  • Corporate Allied Spotlight: Bender
  • 2018 CAF Scholarship Winners!
  • AIA Connecticut Conference & Expo!

 

aiaarchtype

   

 

 

guilfordGUILFORD: Pearce Commercial Real Estate’s Joel Gavin sold a 13,440 square foot building at 405 Church Street for $1.8 million. The property was marketed as a “medical office building”, and includes several medical offices, it also includes Sightlines, a college campus facilities management company.

Galvin represented the seller, 405 Church Street Associates, LLC, and also represented the buyers, Sherman Parkway, LLC and Farmington Properties LLC. The property was purchased as an investment.

Mayne Chris CroppedGLASTONBURY: GZA GeoEnvironmental, Inc., has added Branford resident Christopher Mayne as an Environmental Health and Safety (EHS) Project Manager in GZA’s Glastonbury office.

The company says, Mayne “has more than 20 years of experience in the EHS/compliance field, bringing a unique combination of environmental and safety expertise. Working with clients in diverse industries, he conducts risk assessments and process audits for worker health and exposure control methods. He also conducts employee training on varied EHS topics. Additionally, Mayne’s experience includes source water management for reservoirs and lakes.”

darter2
darter

CHESHIRE: Darter Properties, LLC purchased the 12,875 square foot industrial / flex building at 500 Cornwall Avenue adjacent to its existing property. Darter paid $470m,000 for the space and will use it for expansion.

Darter Properties is owned by Darter Specialties at 470 Cornwall Avenue. The company sells custom specialty items including custom sportswear, school uniforms, banners and signs, promotional items and printed forms.

The company also provides “partners,” with custom websites to sell promotional items under their own brands.

Toby Brimberg of O,R&L Commercial in Branford represented the seller, Cornwall Properties LLC and was the only broker involved in the sale.

Shamas Amar GilbaneBy Amar Shamas, Gilbane Building Company

In a few short months, the people of Connecticut will choose their next governor. The viewpoint and policies of the victorious gubernatorial candidate, of which there are currently seven, will have a great impact on the state’s welfare, as well as the amount and type of construction work to occur in the state for years to come.

Founded in 1952, the Connecticut Building Congress (CBC) annually holds a series of brainstorming sessions with leaders from a diverse group of Connecticut design and construction firms to identify trends in our industry. With reduced public spending in-state, we are seeing many Connecticut AEC firms expanding their private sector portfolios and pursuing work in neighboring states. Advocates for the state’s return to glory, Connecticut firms remain well-tooled and at the ready to expand efforts in Connecticut once again. To learn more information about these and other trends, check out the CBC Program Calendar (www.cbc-ct.org/CBC_Event_Calendar).

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BOND'S Ramos Expands New Haven Team

NEW HAVEN: BOND, A Boston based building, civil, utility and energy construction firm has expanded and its New Haven office. A BOND release says it adds a “team of professionals to service traditional Building Division clients in the education, healthcare and district energy markets.” The company cites new business project “wins” from the University of Connecticut (UCONN) and Yale University.

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HARTFORD: Continuing good news for home sellers and Realtors Single-family home sales in Connecticut increased in July on a year-over-year basis. Price improvement was also part of the story as the median sale price hovered at a five-year high, according to the latest report from The Warren Group, publisher of The Commercial Record.

A total of 3,942 single-family homes were sold in Connecticut last month, compared to the 3,686 homes sold in July 2017 – a hefty 7 percent increase. The median single-family home price increased 4.1 percent on a year-over-year basis to $280,000, the median sale price remained unchanged from June.

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HARTFORD: Cushman and Wakefield’s Hartford Office released its Qtr 2 real Esate review for the Hartford Office Market. While the report points to a stronger economy with reducing unemployment, segments of the market continue to struggle. The Harford suburban office market is seeing negative absorption and weaker per square foot lease rates.

Overall vacancy for the region continues to be running in the negative as well. On the good news bad news front, the Central Business District is seeing positive growth, but according to Cushman it is coming at the expense of suburban properties, not new growth.

EastHamptonBy Town of East Hampton

EAST HAMPTON: In June the town council took an important first step in preserving and protecting its historic Village Center with the implementation of a Tax Increment Financing (TIF) District. The TIF District plan will allow the town to set aside increased revenue generated through property taxes within the district in order to perform projects that directly benefit the Village Center area with the goal of promoting growth, redevelopment and creating an inviting atmosphere in the historic downtown.

East Hampton, known colloquially as Belltown, was once home to several bell and toy manufacturers, all of which were nestled in the Village Center, originally drawing on water power from nearby Lake Pocotopaug. Beginning in the 1970s, changes in the manufacturing industry resulted in the loss of all but one bell manufacturer to date. Several large historic mill buildings sit, blighted, vacant or underutilized throughout the area. TIF is a method used to catalyze economic development through anticipated future increases in property tax revenues to generate incremental revenues to help pay for costs within the district.

Putnam CY

The Y is Q's First Tenant

 

By Putnam Economic Development

PUTNAM: n the true spirit of community, the Quinebaug Regional Technology Park (The Q) is a regional economic development initiative between the towns of Brooklyn, Pomfret, Putnam and Scotland. Strategically located in the Tri-State, including Conn., Mass. and R.I., The Q is a 267-acre technology park accessed directly off I-395 at Exit 45. 

Suited to support industry sectors such as aeronautics, plastics and medical devices, the site further supports the growing sectors of agritourism and ecotourism, like breweries and soap making. Amenities of The Q include The Hale YMCA Youth and Family Center, the Q’s first tenant, which offers two swimming pools, a whirlpool, exercise room, fitness classes, member child-care and many other health and wellness amenities. 

A farmers’ market is less than a half mile away which is adjacent to a dog park. The Q also offers access to the Putnam River Trail, a two mile-long biking and walking trail winding its way along the Quinebaug River, through Rotary Park and into historic downtown Putnam. The River Trail features a canoe launch, bike repair station and runs behind Rotary Park’s bandstand, which hosts several outdoor events and concerts. 

The Q is being developed and sold in phases with several lots in Phase I still available for sale.  

With a downtown packed with award-winning dining options, specialty shopping, arts venues, theaters, a well-known antiques section as well as year-round events, festivals and activities, it is no wonder that the town of Putnam was recently named “One of the Best 15 Small Towns to Visit in New England” by Boston Magazine. Putnam is a small town with a big attitude!

POM 616 New ParkWEST HARTFORD: What developers ae calling “a pioneering mixed-use community,” located next to the new CTFastrak “rapid transit stop,” 616 New Park hopes to attract “everyone from millennials to seniors.”

The 54-unit project, has one and two-bedroom units, and is priced both at market rate and at rates attractive to a workforce earning at or below 60% of the area’s median income. Eleven units are designated as supportive housing for veterans.

Retail space is available on the ground floor, cost for the project was $15.6 million.

The "pet friendly" apartment rents range from $1600-$2300 per month.

Screen Shot 2018 07 30 at 9.37.21 AMHAMDEN: An $8.7 million price tag was made for a 30 unit [130 bed] Hamden apartment building adjacent to Southern Connecticut State University campus.

The buyer was 1160 Silas Deane Company, LLC [433 South Main Street, West Hartford] and the seller was by One Hundred Ninety Pine Rock Avenue, LLC.

Ralph Lewis of CW Commercial Real Estate [a subsidiary of Calganini] represented both sides of the off-market sale. This transaction marks the second sale of this property by Lewis, who represented both buyer and seller in August of 2015 when it traded for $7.6 million.

JCPenneyMANCHESTER: Winstanley Enterprises, LLC of Concord, MA has acquired the two million square J.C. Penney distribution warehouse facility located at 1339 Tolland Turnpike for $70 million from J.C. Penney.

Winstanley Enterprises says it plans to renovate the interior and exterior of the facility and transform the location into a bulk warehouse and distribution center.

“This facility is one of the largest distribution warehouses on the Eastern Seaboard, and we are very excited to breathe new life into the property,” said Adam Winstanley, a principal of Winstanley Enterprises. “We look forward to working closely with the community, creating new local jobs and offering distribution tenants a top-tier facility centrally located here in Manchester.”

Madden Thomas Stamford 1By Thomas Madden, AICP, 

Director of Economic Development, Stamford

Stamford is preparing to be the city of tomorrow through a repeating $2 million implementation grant for the next five years by CTNext, the state’s business development entity. The award is helping to develop the city’s “Innovation Playground” through investment into projects that support Stamford’s “Smart Cities” movement and in partnership with private companies such as Harman International Industries, Frontier Communications, Synchrony Financial, AT&T, Local Motors, Navya and public entities including UConn, CTDOT, the Stamford Partnership,Fairfield County Business Council,Downtown Special Services District, and BLT. These partners envision Stamford as an intensely collaborative, walkable, digitally enabled city, connected to NYC and to other major Connecticut cities through technology and support both small and large business in entrepreneurship and innovation pipeline.

kubtecSTRATFORD: Kubtec Digital X-Ray has purchased a freestanding building at 111 Research Drive for $1.045 million. The building, on 0.67 acre, encompasses 10,216 square foot and includes a loading dock.

Founded in 2005 in Milford, Kubtec Digital X-Ray, a registered trademark of KUB Technologies Inc., is a research based organization that develops digital x-ray solutions for medical, research and industrial applications.

uncasville marriotUNCASVILLE: Fairfield Inn & Suites Uncasville, a recently renovated four-story 105-room hotel located off I-395 has been sold for $11.05 million.

Located 12 miles from the New London Union Train Station and 57 miles from Bradley International Airport, the property was recently repositioned from a Best Western to a Fairfield Inn and Suites by Marriott.

Jonathan Ruprai, senior director of Marcus Millichap’s national hospitality group, along with Jerry Swon and Daniel Zagoria of the firm’s Manhattan office, secured the exclusive listing to market the property on behalf of the seller, a private investor.

 2018 07 undervalued cities 2018 mapNEW YORK: Smartassets.com the financial resources website says “whether you’re a first-time homebuyer or a grizzled veteran of the home-buying experience, you want to make sure you are taking out a mortgage you can afford.”

To that end the company says it “analyzed data to find the most undervalued cities in the U.S in 2018.”

New Haven was chosen as the seventh most undervalued city in the country.

colliersNEWINGTON: Nickerson Properties LLC has purchased 445 & 445A Willard Avenue for $2,095,000. The 9,760 SF office condo property is 100% occupied by Davita Dialysis and Family Adult Day Care. Nicholas R. Morizio, SIOR, CRE and Terri Rockefeller of Colliers International in Hartford, represented the seller Rotundo Developers LLC.

CE WoundCenterNEW BRITAIN: The Advanced Wound and Hyperbaric Medicine Center on The Hospital of Central Connecticut’s campus has been rehabilitated by C.E. Floyd Company [Middletown], worked with Jacunski Humes Architects of Berlin. The original schedule was 14 weeks, but according to a release by E.E. Floyd the hospital wanted to occupy the space sooner. The company achieved it “by working longer days and implementing lean construction practices, such as a daily huddle and maintaining a constraints list,”, the compressed schedule took eight weeks.

“Our new state-of-the-art wound care center in New Britain will ensure our hospital offers the most advanced therapies, products, and practices to our community,” said Janette Edwards, vice president of operations for Hartford HealthCare’s Central Region, in a press release published on the hospital’s website. “The new center includes six treatment rooms, allowing us to treat more patients and increase our rate of healing difficult wounds.”

Previously, C.E. Floyd converted a gymnasium into the Family Health Center in Bristol for the Hospital of Central Connecticut. This outpatient care facility provides many medical services to the community, including another Advanced Wound and Hyperbolic Medicine Center.

gunnery slam

Rendering of the to be built Thomas S. Perakos Arts and Community Center at The Gunnery

 

WASHINGTON: The Gunnery private school celebrated the groundbreaking of the new 32,000 square foot $17 million Thomas S. Perakos Arts and Community Center. The new facility is one of the largest on the campus of the co-educational college preparatory boarding and day school.

The S/L/A/M Collaborative (SLAM), say it was designed “to reflect the English Tudor and shingle style architecture prevalent on campus.” The building will be constructed by O&G Industries, and is estimated to be complete in December 2019.

One StamfordSTAMFORD: The law firm Day Pitney LLP has relocated to 1 Stamford Plaza into 19,450 square feet. Pitney’s new digs is a 16-story, 219,000 square foot class A office tower. The firm is expected to move in the first quarter of 2019.

The lease, which encompasses the entire 7th floor, features an “efficient floorplate” with a mix of private offices and meeting spaces. The new offices will house 70 employees, including 32 attorneys.

Day Pitney has been at Canterbury Green at 201 Broad Street in downtown for the past 30 years.

Funke Maureen greenboxBy Maureen Funke

Director of Development, greenbox-is [an environmentally oriented interior space construction company]

 

Have you heard all the buzz about Opportunity Zones?

Opportunity Zones are at the heart of what could become the nations’ largest economic development program! The initial reactions from economic development officials and involved parties across the state are promising. In summary, the 2017 Tax Cuts and Jobs Act established the federal “Opportunity Zones” (OZ) program, a new community development program designed to encourage long-term investments by providing favorable capital gains treatment for investors who support eligible projects in designated communities. The program is especially beneficial for long term investors… making it financially attractive for investors to focus on long term investments with a holistic community based approach.

mayne centerbrook

Mayne

wait centerbrook
Wait

CENTERBROOK Ben Mayne and Andrew Wait have been added to the architectural staff at Centerbrook Architects. Mayne joins fulltime following internships at the firm in each of the two previous summers. A second-generation designer, Mayne graduated this spring with a bachelor’s degree from Cornell University’s top-ranked architecture, art & planning program. He is originally from Suffield.

Wait comes to Centerbrook upon completion of bachelor’s and master’s degrees in architecture from Northeastern University. The Andover, Mass., native was a two-time participant in Northeastern’s co-op program, where he worked at LDa Architecture & Interiors and Prellwitz Chilinski Associates.

Sheehan Garrett CEDAS
cedas

By Garrett Sheehan

CEDAS [Connecticut Economic Development Association] board vice president, and the President of the Greater New Haven Chamber of Commerce.

ROCKY HILL: To have state economic growth, there must be communities that have invested their time and energy into building an economic development program. Often times, the intent is there, but the quality of economic development programs can widely vary among municipalities. Many communities have not been exposed to other economic development programs and what is considered best practice. In order to improve the economic development efforts of the entire state, the Connecticut Economic Development Association (CEDAS) is preparing to launch a land use and economic development best practices program for municipalities.

NPCG CheshireCHESHIRE: Regency Court Apartments located at 19 Stony Hill Road. and 50 Country Club Road has been sold for $1.98 million.

The property consists of 22 apartment units and 10 garage bays which provide additional income. The seller was Regency Court LLC. The buyer, a private Connecticut-based investor, purchased the property for a price that equates to $90,000 per unit, and a capitalization rate of 7.7% based on current net operating income.

Edward Jordan, JD, CCIM, Northeast Private Client Group managing director and Taylor Perun, senior associate in the firm’s Connecticut office, represented the seller and procured the buyer.

Colcord Sadie CERCBy Sadie Colcord

Economic Development Coordinator, Town of Beacon Falls

Located in the heart of Connecticut’s Naugatuck Valley Region, Beacon Falls is the industrial town you don’t know about – but should. With a thriving industrial core and abundant commercial real estate opportunities, Beacon Falls is home to a wide variety of companies – from nationally-renowned firms to small, family-owned businesses. Companies of all sizes and stages in the business cycle are integrated into the fabric of the community, as customer service to businesses is equally as important as customer service to residents. Beacon Falls aims to grow its workforce, support its businesses, and maintain its quality of life for residents. The forward-thinking, business-friendly culture of local government is one of many reasons that Beacon Falls would make an excellent location for your next business investment. Be sure to reach out to discover if Beacon Fall’s new tax incentive program may be relevant for your business expansion or relocation.

100 Benton Street Stratford CTSTRATFORD: SCP Distributors LLC, of Covington, LA signed a long-term lease for 32,000 square feet of industrial space at 100 A Benton Street.

The company says it is, “the world’s largest wholesale distributor of swimming pool supplies, equipment and related leisure products.”

The company has more than 200 locations, including in Windsor.

Jon Angel, president of Angel Commercial, LLC of Southport, the only Realtor involved in the transaction said of the company’s location choice, “Stratford has proven to be a thriving base for successful businesses in a wide range of industries.”

The landlord of this multi-tenanted building is Stratford Industrial Park, LLC.

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Survey Sampling International renewed 47,765 square feet at 6 Research Drive in Shelton

 

STAMFORD: A second quarter report by Colliers International Group [Nasdaq: CIGITSX:CIG] shows that the Fairfield County office market showed gains in spite of the impact of some large scale vacant space.

The report follows::

The Greenwich and Stamford submarkets continued to post positive activity, but rumored interest among some large occupiers wasn’t enough to prop up leasing across the County, which fell 44.5% below the five-year quarterly average to 495,304 square feet. Concurrently, the average asking lease rate dipped from last year, falling $0.14 per square foot to $35.95.

“Newly available space at 383 Main Ave. in the Central submarket contributed to half of the 60 basis point increase in the availability rate, which rose from last quarter to 24 percent,” said Sean Cullen, director of research for Colliers’ Stamford office. “With the exception of the Greenwich and Stamford submarkets, availability rose across the entire county.”

Screen Shot 2018 07 20 at 9.15.47 AMHARTFORD: CT Department of Economic and Community Development’s Kolie Sun reviewed the status of the state’s housing market in an article in the Connecticut Economic Digest [see it at https://www1.ctdol.state.ct.us/lmi/digest/pdfs/cedjul18.pdf].

Sun says, the 2017 housing market and its “continuing recovery from the recession that ended in 2010.” The article notes that a bright spot of the state's real estate market is the continuing upward trend of home sales and median prices two years in a row. According to the Warren Group report, CT single family sale numbers reached a pre-recession high not experienced since 2006. In addition, single family home sales in 2017, at 34,259, represent a 5.0% increase from 2016. The median single-family home sales price had an increase of 1.6% to $249,900 in 2017. Condominium sales price also increased 0.3% during the same time period.

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NEW HAVEN: A detailed real estate report by the real estate firm Colliers International shows that new developments in the recently ended 1st Quarter combined to produce a positive outcome for New Haven’s office market. While the report presents the information as good news the actual city’s vacancy rate has increased in the quarter.

More than 60,436 feet of square footage was absorbed in the quarter, which is a pretty healthy number for New Haven. As we previously reported in January, Colliers had not yet considered the new 95,000 of square feet by the new “tech” building, District. The most recent report includes that added space to the New Haven market, and it has increased the overall vacancy rate for the city from 19% percent at the end of 2017 to 19.3 percent today in spite of the new square footage leased.

The Collier’s report authored by New Haven realtor John Keough describes the District located at 470 James Street between the East Rock and Fair Haven neighborhoods.

milfordsqMilford: A newly developed shopping center, already leased out to a  variety of prime national tenants has been sold.

Milford Square is a 62,442 square foot retail center on Route. 1. The property is newly developed and 100% leased to a tenant mix including REI, Panera, Verizon, Sleep Number, and Pet Valu. Additional tenants at the property include Salons by JC and Tomato & Co. The class A center is in an area with 3.4 million square feet of retail within 5 miles of the center including retailers such as Costco, Lowe’s, Stop & Shop, Whole Foods, Walmart, Home Goods and Marshalls.

Mark Kandkhorov and Michelle Abramov of Asset Commercial Realty Group LLC’s (AssetCRG) exclusively represented RJ Milford LLC in its 1031 purchase of Milford Square. for $28 million. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, CG Milford, LLC, an affiliate of the Cappelli Organization of Valhalla, NY.

casino ewindsor

HARTFORD: The Mashantucket Pequot and Mohegan Tribes, released an updated rendering of their planned East Windsor entertainment and gaming facility. The renderings were submitted to the town as a part of the local approval process.

The proposed development will be a 188,000 square foot world-class gaming and entertainment facility with roughly 1,800 slot machines, 50 table games and 10 poker tables. Construction is slated to begin in the Fall of 2018, with an opening date tentatively scheduled for the Spring of 2020.

The East Windsor casino and the partnership between the two competing Connecticut Indian tribes was approved by Connecticut’s legislature to address competition from a new $800 casino development by MGM in Springfield, Mass., scheduled to open on September 1.