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lbgSHELTON: Leggette, Brashears and Graham, Inc. [LBG], an environmental engineering services firm headquartered in town and with 17 regional offices across the US and with 150 employees has been acquired by Montreal, Canada based WSP Global Inc. [TSX: WSP].

WSP is a full services engineering and design firm and has more than 37,000 employees in 500 offices in 40 countries around the world.

LBG specializes in hydrogeology, groundwater and surface water modeling, dewatering and depressurization, environmental investigation and remediation.

WPG's press release said the acquisition “will bolster WSP's Water and Environment practice by increasing its groundwater geology capabilities, strengthening its environmental services expertise and expanding its national footprint.”

McMahon Patrick Town of Suffield 240x300By Patrick McMahon

Suffield: Every community has assets to market from an economic development perspective, and Suffield is no different. We have existing buildings for lease or acquisition, land for development, redevelopment sites and tourism attractions. We would like to introduce you to opportunities in our town in North Central Connecticut which includes a portion of Bradley International Airport, New England’s second largest airport.

 On September 27th the Suffield Economic Development Commission will be hosting its annual familiarization tour and golf outing at the Suffield Country Club.

Screen Shot 2017 08 30 at 1.46.03 PMSHELTON: 710 Bridgeport Avenue LLC, controlled by RNY Property Trust, was sold for $26.25 million, to Sun Equity Partners, LLC. , Jeffrey Dunne and Steven Bardsley of CBRE’s Institutional Properties represented RNY

710 Bridgeport Avenue is a 452,414 square foot flex [industrial office] building located on the eastern border of Fairfield County sits on 36 acres and includes a heliport. Currently 72% leased, tenants include PerkinElmer Health Sciences, Inc. [130,035 square feet], and Panolam Industries International, Inc. [79,000 square feet] which anchor the property.

Located off Exit 12 of Rte. 8, the major connector between I-84 and I-95 allows direct access to Manhattan, Hartford and Boston.

Dunne said, “710 Bridgeport Ave. is a high-quality flex asset and offers stable income and upside from nearly 128,000 square feet of vacancy.”

CBRE StamfordTowers 1STAMFORD: 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.  The sellers were represented by brokers Jeffrey Dunne and David Gavin  with support from analyst Travis Langer of CBRE’s Institutional Properties, the buyer is CBRE Global Investors based in Los Angeles, CA.

The property is located in the city’s CBD, and one block from the Stamford Transportation Center, providing service to Grand Central Terminal in 50 minutes, as well as Amtrak service to destinations throughout the Northeast. The property is also close to the 722,000 Square foot Stamford Town Center Mall, as well as restaurants and retails options.

house bar graph arrow up2HARTFORD: 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 homes were sold in Connecticut during the month of July, compared with 3,230 sold in July 2016. The median price of a single-family home increased 2.7 percent in July to $267,000, compared with $260,000 a year ago.

Year to date, there were 19,287 single-family home sales in 2017, compared to 17,786 over the first seven months of 2016 – a 8.4 percent increase. The year-to-date median price was $249,000, compared to $245,728 over the same period of 2016.

215churchstreet2By 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 the company is reporting amazing results in the stock market amid positive announcements in its drug development efforts.

Biohaven is organized as a biotech holding and development company, and has raised funds to invest in New Haven biotech Kleo Pharmaceuticals. The company also is organized to conduct clinical trials and develop drugs it has purchased the rights for from a variety of organizations and companies including; Bristol-Myers Squibb Company, AstraZeneca AB, Yale University, Catalent, Rutgers, ALS Biopharma LLC and Massachusetts General Hospital.

Biohaven went public this past May raising $168 million at approximately $17 per share and the stock has taken a rocket ride to $37 a share in just three months. Its current market value of $1.3 billion, makes it the second most valuable biotech in the state.

The 11,500-square foot free standing building is at 215 Church Street, next to the Quinnipiac Club was previously headquarters for the Bank of New Haven, the Bank of Southern Connecticut and most recently a branch of Liberty Bank.

The building is owned by Netz USA LLC a U.S. subsidiary of Netz Group Ltd., a publicly traded Israeli  company. Nezt, has more than $100 million of real estate investments in the US Capitalize 360 LLC run by Frank Micali is its contracted asset management firm, that negotiated the lease. .

Micali is a long-term Connecticut realtor with deep roots in New Haven’s CBD, including a long-term stint at the C.A. White company and in the commercial leasing of 900 Chapel Street.

Micali said “this is a strategic site for Biohaven’s headquarters which will allow it to take full advantage of the area’s talent and intellectual resources including Yale University, its labs and research, Yale New Haven  and the many biotech firms established in New Haven.”

Biohaven’s stock has grown steadily from its IPO, but took off on the release of information on August 14, about its drug development activities

The company said that it’s clinical trials for a treatment of migraine headaches was moving into a Phase 3 clinical trial, another drug was given Fast Track status by the FDA and was expecting some Phase 2/3 results before the end of the year. A third drug for BHV-5000 to treat Rett syndrome received Orphan Drug Designation from the FDA as well.

746 chapelWOODBRIDGE:  Levey Miller Maretz announced they have expanded its property management business, ading 746 Chapel Street,a mixed use ofice and retail building in downtown New Haven adding to the nine condominium associations and 37 other properties it manages.

LMM management portfolio includes multifamily residential properties, apartment buildings, retail centers, office buildings, industrial parks and mixed-use properties.

yaleNEW 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 5.2% year-over-year.

As rents have increased during the past year in New Haven, a few comparable cities nationwide have seen rents grow more modestly, or in some cases, even decline. New Haven is still more affordable than most similar cities across the country. New Haven's median two-bedroom rent of $1,330 is above the national average of $1,160. Nationwide, rents have grown by 2.9% over the past year.

By comparison, while New Haven's rents rose over the past year, the city of Miami saw a decrease of 0.8%, San Francisco, however, has a median 2BR rent of $3,060, which is more than twice the price in New Haven.

house bar graph arrow up2BOSTON: The Warren Group, publisher of The Commercial Record. Reports that single-family home sales in Connecticut jumped 8.7 percent in June compared to June of 2016.

A total of 3,872 single-family homes were sold in Connecticut during the month of June, compared with 3,561 sold in June 2016. The median price of a single-family home increased 1.5 percent in June to $270,000, compared with $266,000 a year ago.

Year to date, there were 15,567 single-family home sales in 2017, compared to 14,556 over the first six months of 2016 – a 6.7 percent increase. The year-to-date median price was $244,000, compared to $242,500 over the same period of 2016.

“Our June sales total has hit its highest point since 2006,” said Timothy Warren, CEO of The Warren Group, “Though the median price of homes has remained relatively flat over this time, attractive prices may be the primary factor driving this modest climb in sales numbers.”

Condominium sales in Connecticut increased in June by 13.6 percent with 968 condos sold, up from 852 in June 2016. The median sale price for condos in June increased by 2.9 percent to $175,000, compared to $170,000 in June 2016.

Year to date, there were 4,194 condo sales in 2017, compared to 3,738 over the first six months of 2016 – an 12.2 percent increase. The year-to-date median price was $160,000 over the same period for both 2016 and 2017.

NEW BRITAIN, HARTFORD: Colliers International signed two meaty leases in the past month.

Stone Valley Granite & Marble held their ribbon cutting in June after signing a long term lease at 60 Wooster Street to run their operations and showroom out of the 14,500 square foot flex building. David Richard of Colliers International was the sole broker involved in this transaction.

Colliers

In Hartford, Lennox Industries, Inc. leased 10,800 500 square foot of industrial space at 110 Murphy Road. Nick Pinto of Sentry Commercial represented the tenant. Dave Richard of Colliers International represented the Landlord, South Meadows #7 LLC.

Patriquin Esana GUILFORD: A former furniture retail store is the new home of Esana MedSpa and Plastic Surgery Center. The building is made up of a historic house and a large barn-like addition from the 1990s. Patriquin Architects of New Haven has designed the medical offices, patient and staff areas in the existing spaces, “while keeping the exposed beams of the historic house and highlighted the trusses in the addition.”

Originally built in 1797 per town records, the structure was renovated, extended, and a large 2-story wood barn was attached. Esana will be opening their new location this fall.

The 4,500 square foot renovation highlights the interior structure of the new and old, featuring exposed timber framing, large wood beams and exposed trusses, and roof framing.

According to a release from Patriquin, “Esana wished to preserve the existing interior, but also needed to provide a high degree of the acoustic and visual privacy required for any medical office. “

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HAMDEN:  interest in Greater New Haven apartments by investors continues to grow with the purchase by, CT HLKT 655 Fitch, LLC of Willow Woods, a 2-building condominium complex containing 52 units at 655 Fitch St. and 42 Warner Street for $4.5 milion.  The property, is contiguous to Southern Connecticut State University, and consists of 45 two-bedroom units and 7 one-bedroom units on 1.53 acres.

The property was co-listed with Stephen Press, SIOR, of Press/Cuozzo Commercial Services, and David Gorbach, SIOR, of Colonial Realty represented the seller, LMJ Properties, LLC, and procured the buyer.  

900chapelNEW HAVEN: The Connection Inc. has leased 13,122 square feet at 900 Chapel Street. The private, non-profit human service and community development agency will occupy the full penthouse floor at the 142,439 s/f, 13-story office tower.

According to Jeffrey Williams of Colliers International the broker that represented The Connection, the new office consolidates two local Connection operations.. John Keogh of Dow Condon d/b/a Colliers International served as landlord broker for PMC Property Group, which owns 900 Chapel Street.

bh trailerPLAINFIELD: , B.H. Trailers and Plow CT, LLC, has purchased a 6,000 sf office/showroom/light manufacturing building in the Plainfield Industrial Park for $525,000. The company was previously located in Johnston, RI. Ken Bondi, owner of Bondi Commercial Real Estate

represented the seller, Argeris, LLC which operated an industrial mop sale and distribution business at the facility. Bondi also represented the buyer.

493eba65171b4762821d6fa070935370WESTPORT:  1555 Post Road East, a 10,000 square footoffice building on .81 acres and the former home of Petrucci Construction Corp sold for $2.2 million. George Shawah Jr., president of Baldwin Pearson & Co. and Robert Shawah represented the seller, 1555 PRE, LLC and Brett Sherman of Angel Commercial represented the buyer, BAO Partners LLC.

Screen Shot 2017 07 06 at 1.23.06 PM

NEW HAVEN: According to information compiled by the apartments listing website Apartmentlist.com rents in New Haven have continued to increase, adding 0.4% over the past month, and are up 5.6% year-over-year. . This is the tenth straight month that the city has seen rent increases after a decline in August of last year. New Haven's year-over-year rent growth leads the state average of 1.3%, as well as the national average of 2.9%.

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BOSTON: Single-family home sales in Connecticut jumped 10.6 percent in May compared to May of 2016, according to the latest report from The Warren Group, publisher of The Commercial Record.

A total of 3,260 single-family homes were sold in Connecticut during the month of May, compared with 2,947 sold in May 2016. Price increases were more modest, the median price of a single-family home increased 1.8 percent in May to $251,450, compared with $247,000 a year ago.

Year to date, there were 11,695 single-family home sales in 2017, compared to 10,995 over the first five months of 2016 – a 6.4 percent increase.

“Industry experts will be pleased to see a healthy jump in home sales both year-over-year and month-over-month. It’s the best May since 2006,” said Timothy Warren, CEO of The Warren Group, “I’m a bit surprised. Perhaps the Spring market is stranger than I anticipated, The fact that the median price is barely moving for the fourth straight year may explain why homebuyers were out in force.”

Condominium sales in Connecticut increased in May by 20.3 percent with 867 condos sold, up from 721 in May 2016. Condo prices however were down, median sale price for condos in May decreased by 4.1 percent to $165,000, compared to $172,000 in May 2016.

Year to date, there were 3,226 condo sales in 2017, compared to 2,886 over the first five months of 2016 – an 11.8 percent increase.

dt.common.streams.StreamServerWallingford: Consolidated Electrical Distributors (CED), a nationwide distributor serving the contractor, industrial and commercial markets has leased 15,000 square feet of warehouse/distribution space located at 2-4 Toelles Road. The property has direct access to I-91 at Exit 13 near the Wallingford/North Haven town line. The company had previously been located at 39 North Plains Industrial Road.

Frank Hird, SIOR of O,R&L Commercial represented the landlord DFP Enterprises and also CED. Terms of the lease were not announced, the 100,000 square foot multi-tenant building was marketed at $5.25 nnn.

iterium

Old Saybrook: Iterum Therapeutics US Limited, of Dublin Ireland is expanding its space and commitment in Old Saybrook. The company has leased  9413 square feet, at 20 Research Parkway.  The company currently occupies only 2300 square feet in building, the US director is Corey Fishman.

 

Iterum is a clinical stage biotech business with offices in Chicago, Dublin, Ireland, and Old Saybrook, they recently raised $65 million in a Series B Financing to support a phase 3 clinical trial for a new anti-biotic to treat urinary tract infections.

The financing was led by new investor Arix Bioscience plc, and included Pivotal bioVenture Partners, Advent Life Sciences, Domain Associates and Bay City Capital. Acording to the company alll of its current investors (Frazier Healthcare Partners, Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners) also participated in the round.

The owner of the complex is Mill Meadow Development, LLC. Kevin Geenty SIOR was the sole agent in this transaction. 

homesalesHartford: Connecticut real estate agents and homeowners selling their homes had a good month in May according to a report issued by the Connecticut Association of Realtors.

Single-family residential home median sales prices rose 4% to $260,000 from the $249,900 in that same time period last year.  The number of single family homes sold increased  by10% compared to May of last year, 3,406in total.

BA2017 under50 Pirie Denali 1 8 w

Pirie Associates Architects, Denali, Old Saybrook and Trumbull New Haven [ Photographer: John Muggenborg ]

New Haven: Each year The Connecticut Chapter Of The American Institute of Architects [CT AIA], presents the statewide Business Architecture Awards "honoring architects for solving business problems for Connecticut clients, thereby demonstrating the power of architecture to shape business performance, to improve peoples’ lives and provide a value added service to clients in a business setting that far exceeds the costs of that service. Projects may include non-profit businesses. The award acknowledges architects and their clients whose projects enhance the built environment and achieve business goals."


52 warren
52 Warren Street, Wooster Square New Haven

New Haven: Two four unit Wooster Square apartment buildings commanded a sales price of $920,000 [$115,000 per unit]. Stephen Press, SIOR, co-principal of Press/Cuozzo Commercial Services, completed the sale at 42 Warren Street, a 2,454 square foot brick row house with 4 one-bedroom units, and 52 Warren Street  a brick 2-story 3,336 square foot building with 3, two-bedroom units and 1, one-bedroom unit.  Press|Cuozzo Commercial Services was the listing broker for the sellers, Cimmino Realty Co., Inc. and also procured the buyer.

park ridge apartments new haven ct building photoNew Haven: Yet another mid sized apartment building was sold. Park Ridge Apartments located at 10 Hard Street  sold. for $7.6 million ($105,556 per unit). CT United Multi Family brokered the sale of the 72-unit apartment building.

The property is a project-based, section 8 apartment complex that houses senior tenants. The transaction was brokered by Kurt Cawley of the company’s New England office, the property totals 70,951 rentable square feet in a 9-story apartment building built in 1979.  Rents range from approximately $1080 for a studio to $1800 for a four bedroom

Peoples CourtStamford: Ralph Edwards/Stu Billett Productions, the production company of the long-running reality television courtroom series The People’s Court, has committed to an 18,739 square foot office lease at 470 West Ave. The production company will relocate its operations to the loft style office property owned by New England Investment Partners, LLC. [62 Washington Avenue, Chelsea, MA].

Steven Greenbush and Joseph Weaver of CBRE represented both Ralph Edwards/Stu Billett Productions and the building ownership group in the lease negotiations. The television production firm plans to film, produce, and distribute its People’s Court series from its new headquarters.

“This transaction speaks directly to the attractive value proposition Stamford continues to offer firms currently located here, or looking to relocate in the area, especially the growing TAMI sector and more specifically the TV and film production industry,” said Weaver. “

Dittirich Chris SLAM Neff Rod SLAM
Dittirich Neff

Glastonbury: S/L/A/M Construction Services (SLAM CS) has hired Rod Neff, CHFM, and Chris Dittrich, CDT, as senior project managers.

Neff, a Certified Healthcare Facility Manager (CHFM), brings 30 years of construction industry experience to SLAM CS, including 20 years in the healthcare industry. In his previous position, Neff was the senior project manager for many healthcare projects in Connecticut and Mass.

Dittrich has 13 years of experience working in the construction industry, seven of which have included working for SLAM CS as a project manager and cost estimator.  Dittrich has completed more than 24 new construction and renovation projects in the healthcare, corporate, educational, residential and public markets.

Marcus 1045KennedyWindsor: A Bank of America, a 4,650 s/f net-leased property, was sold for $3.1 million.

The branch is located at 1045 Kennedy Road and is surrounded by national retailers that include Target, Dollar Tree, Mattress Firm, Petco, Stop & Shop, GNC and Chili’s Bar & Grill.

Barry Wolfe, senior vice president investments, and Alan Lipsky, senior associate, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

towner

Oxford: A 60 acre industrial park has been approved off on Towner Lane.

Ed Godin Jr. SIOR of Godin Property Brokers represented all parties in the $925,000 sale of a 60-acre industrial zoned property off of Towner Lane. The development will be called Pheasant Run Business Park offering industrial lots ranging from 2.5 acres to 19 acres with all municipal utilities available.

In nearby Southington, Godin represented all parties in the $800,000 sale of two commercial zoned land parcels located at 19 Strongtown Rd. and 1411 Southford Rd. The site has been approved for a gas station/ convenience store. With construction expected to begin soon.

Essex Apartment Development Picking Up Steam

Essex: Construction of Essex Station a 52-unit apartment development is being financed by an $8.6 million loan from Washington Trust’s Commercial Real Estate Group, based in Westerly, RI.

The project a 52,000 square foot, complex will have 52 luxury units spread over three buildings at 21, 27 and 29 Plains Road, just past the tracks of the Essex Steam Train tourist attraction.. Sixteen units will be set aside as “moderate” income rental units Moderate income rentals must meet certain state regulated reduced rent income guidelines. 

Ron Lyman, CCIM, CEO of Lyman Real Estate, announced the sale of three contiguous parcels of land totaling 3.75 acres to the buyer, and developer Essex Holdings LLC of Westport,

nixs hartford

Hartford:  –The anticipated opening of UCONN’s campus in the city has motivated one restaurant owner to undergo an extensive renovation and settle a dispute with Front Street developer HB Nitkin. Front Steet is Hartford’s signature new downtown development and the location of a UCONN satellite campus and Graduate School is seen by some as essential to the developments's success.

According to the Hartford Patch website NIXS’ restaurant in Hartford “recently completed an ambitious $100,000 renovation at its location there.

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

The “integrated” practice doctors treat, Allergy, Cardiology, Orthopaedics/Sports Medicine, Physical Therapy, Podiatry, Pulmonary, Rheumatology and surgery

“We are thrilled to be opening a new state-of-the-art facility in Glastonbury,” said Tracy King, Chief Integration Officer of Starling Physicians.“

ted denard savanah bee
Mr. "Bee Healthy", Ted Dennard founder of Savannah Bee Company opening at Bedford Square.

Westport: It’s not Cannabis, but it is more of the sweet life. The Savannah Bee Company has announced it is opening this summer in the town's signature new development.

Proclaiming it is the “leader in all things Honeybee, the store features “premium artisanal honeys and honey-based health and beauty products using all natural ingredients, straight from the hive.”

The Westport ”boutique” will be Savannah Bee’s first store in the Northeast, and will be located at Bedford Square [59 Post Road], marking what the company calls “a milestone expansion for this buzzy brand!”

JohnsonvilleJ

ohsnsonville, East Haddam: Once again publciations and websites from Connecticut to across the countryto Washington State, are still stuck on the story of a potential sale of historic Johnsonville.

See the Business Insider or USA Today Stories. WTOP Washington

CB 12Commerce

Shelton: BTX Global Logistics purchased 12 Commerce Drive for $3.85 million. The 75,302 square foot building sitting on 5.05 acres property will be for the company’s its corporate headquarters. Chris O’Hara of CBC NRT represented the BTX.

BTX Global Logistics is a full-service transportation and logistics organization. According to CBC NRT “For more than three decades, BTX has evolved from a single terminal to an organization with over 20 regional offices located throughout the country. “

The seller, Minskoff Grant Realty and Management Corp. provides asset management throughout New York City, Westchester and Connecticut. The seller was represented by Al Mirin, Michael Norris and Jonathan Schindler of Cushman and Wakefield.

70 terraceNew Haven: Another city apartment property brought in big bucks in a May sale. The 41 units at 70 Terrace Street, sale was for eight buildings on 1.93 acres.  Michael Richetelli and Fred Messore, senior vice president, of Colonial Properties, Inc., brokered the $3.055 million sale. The property was purchased by Favorite Investments, LLC  [Shimon Handelsman, 300 Schraffts Drive, Waterbury]  Colonial Properties was the sole broker in the transaction and represented the seller, Green Olive Properties.  

Svigals SandyHook 03 sliderNewtown: The Connecticut Building Congress (CBC) will recognize the town of Newtown, Consigli Construction Co., Inc., Svigals+Partners and STV|DPM for their collaborative work to build the new Sandy Hook School. The team will formally accept the 2017 Project Teams Awards at a presentation on June 13.

According to CBC “the award recognizes projects that exemplify project team excellence and represent the best practices in teamwork by project owners, architects, engineers, constructors and trades.”

“The powerful purpose of this project was never lost on us from day one,” said Matthew Consigli, president of Consigli. “It was truly an honor to be a partner on this special project and we couldn’t have asked for a better team

“It was the best possible team for this unique endeavor,” said Jay Brotman, AIA, managing partner with Svigals+Partners. “And that includes first selectman Pat Llodra and the entire Sandy Hook-Newtown community.”

“This project was the best team effort I have ever seen, with total commitment from everyone involved,” said STV|DPM vice president and project executive Mark DuPre, Sr. Assoc. AIA.

 The 88,000 square foot school for PreK-4 students opened its doors last fall, after a 32-month timeline that included extensive public engagement, careful planning and design, and best-in-class construction management practices.

The project was inspired by the strong sense of community and the inherent natural beauty of Newtown. The final design includes a curving plan that reaches out across the site as arms in a welcoming gesture to students.

The school features three classroom wings that extend like fingers of an open hand on the site. A total of three courtyards and one outdoor amphitheater serve as an outdoor classroom and space for school events.

Avison Young New CanananNew Canaan: The new New Canaan Medical Arts Center at 23 Vitti Street, is being developed by CH Vitti Street Associates, LLC, an affiliate of New Canaan-based national real estate investor Cambridge Hanover, and Collins Enterprises of Greenwich. CH Vitti acquired the property in February 2016 for $1.525 million.

The new, two-story, 9,000 square foot medical center will be constructed along the parcel’s 121 feet of frontage, with a public courtyard along Vitti Street. The commercial portion of the project includes 2,000 square feet of medical space on the first floor and 7,000 s/f on the second floor. The design and construction will include automated doors, medical grade HVAC system with HEPA filtration, high ceilings, heavy power, abundant parking and full-service management and building security.