Boston: The Warren Group publishers of the Commercial Record have released a report on Connecticut single-family home sales. According to their data, Single-family home sales in the Nutmeg state decreased by 4.1 percent in February. This is in contrast to last February’s 30.81 percent year-over-year increase.
A total of 1727 single-family homes were sold in Connecticut during the month of February compared with 1,800 sold in February 2016.
Darien: LCB Senior Living (LCB) of Norwood, Mass has purchased One Parklands Drive, formerly one of two office buildings located in Parklands Office Park.
LCB plans to construct a 100,000-square-foot assisted living community with approximately 100 apartments on a four-acre parcel to be known as The Residence at Selleck’s Woods. The property adjoins the Selleck’s Woods Nature Preserve, which provides public access to a series of walking trails. The existing 25,000-square-foot, two-story building will be renovated and an additional 75,000 square feet will be constructed. Parking will be provided under the new wing.
Greenwich: Urstadt Biddle Properties Inc. (NYSE:UBA and UBP) has acquired a portfolio of four retail properties located in Fairfield County. The purchase, includes,
High Ridge Shopping Center, an 87,300 square foot shopping center located on High Ridge Road, Stamford, , 300 yards south of the Merritt Parkway. The center is anchored by Trader Joe’s supermarket and DSW shoe store, and 23 additional tenants, including Starbucks, AT&T, Rye Ridge Deli and Pet Valu.
Westport: Bedford Square, a new mixed-use development in downtown has garnered top honors from the Connecticut Building Congress. The 110,000-square-foot complex will be recognized for first place in the “Major Renovation” category at CBC’s 21st Annual Project Team Awards on June 13 at the Bond Ballroom in Hartford.
Designed by Centerbrook Architects & Planners, The Bedford Square project team included construction manager Turner Construction, engineering firms BVH Integrated Services and Langan Engineering, and The Chursciel Group.
BOSTON: The Warren Group [TWG ] publisher of the Commercial Record announced it entered into a new data sponsorship agreement with the Massachusetts Institute of Technology’s Center for Real Estate (CRE) in Cambridge.
TWG’s real estate and property records and statistics will be made available to the CRE’s academic staff and graduate students in order to enhance their research, and further the Center’s mission to “advance the art and science of global real estate, bridging the gap between theory and practice.”
North Haven: A 30 acre parcel of “Open Space” land at King Highway was purchased by the Town of North Haven for what is being called “passive recreation purposes,.” And cannot be used for “development.” The seller was the Sinoway Family Partnership of North Haven and the sale price was $447,500. Christopher P. Nolan, Senior Commercial Associate in the North Haven Commercial Office, and Eileen Smith, Residential Sales Associate in the Wallingford Regional l Office, of Pearce Real Estate were the listing and selling agents.
Boston: Amenta Emma Architects was honored with two awards at the 10th annual IIDA New England Design Awards ceremony on March 2. Symmetry Partners received Best In Connecticut, and Quinnipiac University Brand Strategy Group won Best In Show, selected from 106 entries in 12 categories.
Best in Show: Quinnipiac University Brand Strategy Group, Hamden, is a 19th century house that has been transformed into a “21st century powerhouse for ideas for Quinnipiac University’s Brand Strategy Group,” said the company’s release.
Darien: 800 Post Road a fully leased three-story office and retail property was sold for $4.8 million. Louis Zuckerman and Patrick Colwell of CBRE Group’s Westchester/Fairfield operations arranged sale of the building representing Hawthorne Realty and procured the buyer. JEM Holdings, a New York-based investment company with “local ownership” acquired the property as a long-term investment
Windsor: Eastern Union Funding arranged $57.9 million financing in multifamily real estate transactions on behalf of two of its New York-based clients.
Senior managing directors Nate Hyman and David Metzger arranged three loans with Customers Bank totaling $35.9 million to refinance Williamsburg Apartments [250 Bloomfield Avenue, Windsor], Northwood Square Apartments [215 Lowrey Place, Newington], and Manor House Apartments (14-2 Revere Drive, Bloomfield).
Danbury: BELIMO headquartered in Hinwil Switzerland has more than 1400 employees world wide and it emphasizes sustainability and energy efficiency for actuators, control valves and sensors. The company’s BELIMO Americas it’s North American headquarters has just received LEED Gold Certification for its new 195,000 square foot facility “perched on a 34-acre site.”
Designed by The S/L/A/M Collaborative (SLAM) of Glastonbury, the facility comprises 129,000 square feet of logistics and manufacturing space, 15,000 square feet for test labs, and 51,000 square feet of office space across three stories.
BELIMO is a Switzerland-based company and the recognized global marketer in the development, production, and marketing of actuators, valves, and sensor solutions for controlling heating, ventilation and air-conditioning systems.
According to a release from the architect, the new headquarters “was designed with future expansion in mind, and features an HVAC installation allowing visitors to see BELIMO products in action,” adding, “BELIMO thrives on design and innovation.”
S/L/A/M said “the project rated 62 points in the LEED Gold Certification category and rated 19 out of 19 points in the energy performance optimization model, projecting 48% in energy savings over the base line.”
SLAM provided architectural design, interior design and structural engineering services while Consulting Engineering Services (CES) served as MEP engineer; Milone & MacBroom served as civil engineer and landscape architect; and A/Z Corporation served as the construction manager on the project.
Bridgeport: Michael LoSasso, AIA, LEED|AP BD+C has been named named principal in the architectural and interior design firm, Antinozzi Associates.
LoSasso has been a practicing architect for more than 25 years, joining the Antinozzi as a project architect in 2011. According to the company, “he has worked as senior project manager on several educational and institutional projects.”
LoSasso received his bachelor of architecture, Environmental Design, and bachelors of science degree from Ball State University in Muncie, IN.
“Since Michael joined our firm he has grown into a leader with tremendous vision, creativity and a unique ability to translate a client’s ideas into concrete, cost-effective designs,” said Paul Antinozzi, president of the firm.
Wilton: Avison Young’s Fairfield/Westchester office has arranged a new long-term 15,000 square foot lease with the Western Connecticut Medical Group, Inc., an affiliate of the Western Connecticut Health Network, to serve as anchor tenant for the new Wilton Wellness Center currently under development at 249 Danbury Road. AY say’s the “deal will create Fairfield County’s latest medical facility.”
Middletown: The 81 unit Wilcox Apartments at 309 South Main street were sold for $7 million, $86,420 per unit. Rick Chozick and Steve Pappas of the Hartford office of investment broker, Chozick Realty, Inc. brokered the transaction.
Suffield: Champion Container has acquired an 80,000 square foot facility at 5 Firestone Drive to serve as a distribution center for the company. Champion, founded in 1968, is headquartered in Avenel, N.J. The Suffield location is Champion’s fifth facility joining two in N.J., one in Rosedale, Maryland and one in Sutton, Mass. The firm distributes a wide range of containers from steel, plastic and fiber drums, pails, cans, bottles and jars. They specialize in “just in time” shipments utilizing their own fleet of trucks.
Greenwich: The Houlihan Lawrence Commercial Group – the commercial arm of real estate firm Houlihan Lawrence, which serves New York City’s northern suburbs – has expanded into Connecticut with agent Michael Rackenberg as team leader. The company has said it will serve communities throughout Fairfield County including New Canaan, Greenwich and Stamford. Realtors, Terry Baxendale, Jim Higgins, Peter Wells and Teresa Marziano have joined the firm as well.
Wethersfield: Phil Gagnon, SIOR of Colliers International represented the CT Peer Review Organization (CPRO) based in Wethersfield on their purchase of 936 Silas Deane Highway. The 44,000 SF Class B office building, was sold for $2,100,000. CPRO will occupy a portion of the building and this acquisition accommodates CPRO's occupancy growth under their five-year operational strategy. This represents the third time Gagnon had brokered the sale of 936 Silas Deane dating back to 1998. Patrick Mulready of CBRE represented the seller, PBE Companies LLC.
Westbrook: Cindy’s Wine and Spirits LLC, signed a 5 year lease agreement for 4,400 square foot retail location at 688 Boston Post Road. Joel Galvin, GRI, CCS, of Pearce Real Estate’s North Haven Commercial Office represented the landlord, RCR Enterprises, and the tenant.
Great Expressions Dental takes space Aspen Dental left
Milford: Ameritel of Milford (Metro PCS) at 70 Turnpike Square signed a new five-year lease for 980 square feet of retail space at the site. Fred Messore Senior VP of Colonial Properties of Orange represented the owner, Milford Associates.
Orange: Kevin Weirsman, vice president at Colonial Properties, Inc., represented the landlord, Prime Realty LLC, in negotiating a 5-year lease with Great Expressions Dental at 297 Boston Post Road. The 2,500 square foot medical space was previously occupied by Aspen Dental. The tenant was represented by Alan Zuckerman of Alan Zuckerman Real Estate
Hartford: Dale Reese, managing principal of Reese Commercial Real Estate Services represented Zangari Cohn Cuthbertson Duhl & Grello P.C. in a 2,500 square foot lease in downtown at 750 Main Street. The landlord Boxer Properties represented 750 Main LP at The Hartford Trust Building.
Milford: Two contiguous retail sites on the Boston Post Road have been sold. 1469 Boston Post Road, the former Loading Dock Liquors, consists of a 9,000 square foot of retail building on .92 acres. 1501 Boston Post Road, is a 10,440 square foot one and two story retail/office building set on .70 acres. The total site is 1.62 acres.
The sales price for the two properties was $1.55 million, Press|Cuozzo Commercial Services represented the sellers, Shemitz Associates Limited Partnership and procured the buyer, 1501 Boston Post Road, LLC. Jon Lorensen of Boca Raton, FL is listed in the Secretary of State’s Office as the member for the LLC.
NEW HAVEN: The Academic Science & Laboratory Building at Southern Connecticut State University has been certified LEED® Gold. The building and the faculty effort was recognized by Business New Haven in 2016 for its unique environmental properties with a CT Green Business Award.
The nearly 104,000-square-foot building was originally targeted for LEED® Silver, by the University. All new academic buildings in Connecticut must meet the Leed Silver environmental standards. According to Centerbrook Architects the designer of the building, it scored 63 points on the LEED® scale to ear the BD+C (Building Design + Construction) Gold.
MILFORD: 40 Pepe’s Farm Road, was sold for $13.25 million to an undisclosed institutional investor.The 200,000 square foot high-bay industrial warehouse property was purchased by Calare Properties, a Hudson, Mass. based real estate investment companyin 2014 for $6.6 million.
WEST HAVEN – A building that previously housed one automotive business on a busy stretch of Derby Avenue has been sold to the owner of another auto business./
The building at 461 Derby Avenue [ Route 34], was bought for $465,000 by Enrico DiGioia of SKF Automotive, an auto repair business. He bought the property, which previously housed Astro Transmission, from Kirsten Gebbia.
Steve Miller and Jeremy Rosner of Levey Miller Maretz were the sole brokers for the transaction.. Attorney Bill Gambardella represented the seller and attorney David Pinciaro represented the buyer.
BRANFORD – A tutoring and educational consulting company has moved into space on Main Street.
Lizotte Learning Consultants LLC signed a five-year lease for 1,600 square of office space at 1008 Main Street. The business, owned by Brian Lizotte, provides tutoring and consultation services for students working to get admitted into boarding schools and college preparatory schools.
Amy Nix of Levey Miller Maretz of Woodbridge was the the sole agent in the transaction, representing the tenant and the landlord, 665 Foxon Road LLC.
Lizotte Learning Consultants LLC signed a five-year lease for 1,600 square of office space at 1008 Main St. The business, owned by Brian Lizotte, provides tutoring and consultation services for students working to get admitted into boarding schools and college preparatory schools.
NEW BRITAIN: More competition is coming to Connecticut’s Supermarket market. America’s Food Basket is expected to open before the end of April. The 22,000 square foot market will join another in New London, and is part of a now 47 store chain with outlets in New York, New Jersey, Massachusetts and one in Rhode Island.
WINDSOR: A Brooklyn, New York based private equity partnership Griffin Park Realty LLC controlled by Vasco Ventures purchased the Griffin Office Park Portfolio from Cedar Rapids, Iowa based Investors Warranty of America LLC., for $5 million.
CBRE/NE’s John McCormick who along with company associate Patrick Mulready represented the seller and “procured” Vasco.
Lawrence E. Keenan, AIA, PE, Vice President and Director of Engineering of Hoffman Architects was elected President of the Connecticut chapter of the International Concrete Repair Institute (ICRI).ICRI is “dedicated to improving the quality of concrete restoration, repair, and protection. The organization provides education, networking, and training to design professionals, manufacturers, owners, and others the industry.
Keenan is a company principal and and has recently been selected to manage the technical staff at the firm's Connecticut office. Keenan holds two U.S. patents for pre-cast concrete connections.
Maureen J. Dobbins, MBA, Director of Business Development of Hoffman Architects in Hamden, has been voted President-Elect of the Southern Connecticut Building Owners and Managers Association (BOMA). Beginning in 2018, Dobbins will serve as President of the organization. BOMA “supports those in the commercial real estate industry through advocacy, leadership, and education.”
2018 will be the 35th anniversary of BOMA. Dobbins is a principal at Hoffman and directs business development, sales, and marketing activities for the firm.
Norwalk: Hearst Connecticut Newspapers have consolidated their office into a regional headquarters at Merritt 7 Corporate Park, Norwalk. Hearst has signed a new 11 year lease for 30,251 square feet in building 301 in the six building, 1.4 million square foot office complex. Margaret Egan, Senior Vice President, Clarion Partners the owners of Merrit 7 said, “this brings their entire Fairfield County workforce to a Class-A workplace environment, allowing Hearst to optimize its operations."
Clarion’s announcement of the lease said, that The deal is he largest lease closed in the central Fairfield County market in the fourth quarter of 2016.”
Hearst is expected to take occupancy on April 1, no fooling.
Paul Barbetta, president of the, Hearst Connecticut Media Group, praised the location "the impressive space, convenient location, abundant on and off-site amenities, and attentive ownership and management team, are second to none.”
Merritt 7 will serve as the location for the organization's regional corporate headquarters, senior management and staff, finance, human resources, circulation departments, and additional corporate functions.
Hearst Connecticut Media will keep bureau offices for news reporting and advertising sales in Bridgeport [including printing presses], Danbury, Stamford and Greenwich. Hearst's Fairfield County newspapers include the Connecticut Post, based in Bridgeport; The Advocate, based in Stamford; Greenwich Time, the Norwalk Hour and The News-Times, based in Danbury.
Clarion was represented internally by David Fiore and JoAnn McGrath of Marcus Partners, and the outside CBRE leasing team of Tom Pajolek, Ned Burns, Robert Caruso and Stephen Greenbush. Tom O’Leary and William Montague of Cushman & Wakefield represented Hearst.
With the completion of the Hearst transaction, Merritt 7 is 97% leased.
Major tenants at Merritt 7 include Datto, EMCOR, FactSet Research Systems, Financial Accounting Foundation (FAF), Jarden, IPSOS, Mercer, Millward Brown, Frontier Communications, Aon, Xerox, and Siemens.
ORANGE: Nelco LLC has purchased a light industrial commercial building at 210 Boston Post Road for development. The 7,620 square feet free standing building sits on .55 acres. Originally listed at $525,000, the property was sold for $500,000. According to Pearce Commercial Real Estate, Nelco will develop the property for American Seal and Engineering, also of Orange. Amercian Seal and Engineering designs and manufactures “Engineered Resilient Metal Seals and Sealing Systems for OEMs and subcontractor partners throughout the world. Carl Russell of Pearce represented Nelco and Michale Richetelli of Colonial Properties represented, the seller Henry’s Honor LLC,
OLD SAYBROOK: The former estate of Katherine Hepburn is back on the market for $11.8 million. The property was previously listed in 2014 at $14.8 million. The 1.5 acre property overlooks a private pond, a dock and sits on 220 feet on London Island Sound. The house is at 10 Mohegan avenue and has 8,400 square feet with three stories.
The home site is only part of Hepburn's original property, developer Frank Sciame built a 3,800 square foot beach house on 1.3 acres at 6 Mohegan Avenue, which is also for sale, at $5.88 million.
Sciame knocked down the price of the beach house from a 2015 listing at $6.8 million. Sciame also owns the nearby historic and iconic [it is pictured on some Connecticut license plates] Old Saybrook Lighthouse.
BOSTON: Single-family home sales in Connecticut increased by 23%in January, according to the latest report from The Warren Group, publisher of The Commercial Record.
A total of 2,130 single-family homes were sold in Connecticut during the month of January compared with 1,731 sold in January 2016. This is the highest total of sales in January since 2007 when the number reached 2,345 homes sold.
HARTFORD: In July the State of Connecticut cinched a deal with Airbnb, the home sharing company, to collect taxes from its “host” facilities.
According to the company, Connecticut’s 2,400 active hosts earned more than $11 million dollars in 2016 by hosting approximately 64,000 visitors.
The company said the typical host in Connecticut earned $5,500 last year, and the typical listing is occupied 32 nights per year with the average length of stay is 3.4 nights.
Josh Meltzer, Head of Northeast Public Policy’s statement demonstrated the bucking the everyday the company is known for. We will just have to see, if “nutmeggers” or Connecticut citizns are as equally willing to accept their self description as Connecticuters as they are the home sharing service.
In 2006 James Schembari a “something” from Connecticut wrote in the New York Times that he didn’t want to be called a "Connecticuter," or a Nutmegger for that matter.
Meltzer explained the company’s efforts in the home of the Connecticuters , “we are proud to see that more and more Connecticuters have discovered home sharing as an opportunity to share their community with visitors from around the world, and earn a little bit of extra money along the way. From New Haven to Putnam, Airbnb hosts are ambassadors to the Constitution State and we are grateful they have embraced home sharing as a way to welcome thousands of visitors.”
BRIDGEPORT: A Drug Rehabilitation facility at at 425 Grant Street has been sold.
The building leased by the APT Foundation has 160 beds and 60,000 square feet. Steven Inglese of New Haven Group, Inc., represented the owner and sold the building $4 million. Inglese represented the 425 Grant Street LLC in marketing and negotiating the transaction for and procured the buyer, Grant Property Group, LLC.
The property has operated in its current capacity for the past 15 years and is located one block from Bridgeport Hospital. The building was built in 1966 as a nursing home.