Market
Long-Term Medical Office Lease Signed in North Haven
According to the New England Real Estate Journal, a long-term lease has been signed at 336 State St. in North Haven, CT, for Revive Therapy LLC, a physical therapy and wellness practice. The practice offers a range of services including rehabilitation, manual therapy, and sports performance training, without requiring a doctor referral. Revive Therapy will be joining other businesses at this high-traffic location, contributing to the area’s commercial growth.
For more information, click here: Press/Cuozzo Commercial facilitates long-term lease at 336 State St.
Southington Expansion Nears Completion for Distribution Co.
According to the Hartford Business Journal, the second phase of Pyle Corp.’s expansion in Southington is nearing completion with a new multi-level parking structure at 87 Aircraft Road, designed to accommodate over 200 vehicles and interstate semi-trucks within 73,000-square-feet of space. The overall project, expected to finish by late 2025, includes a 16,477-square-foot maintenance building, a 10,140-square-foot terminal expansion, and a renovation of an 8,500-square-foot maintenance area.
To read more, click here: Second phase of Pyle Corp.’s Southington expansion nears completion
Office Space Available for Lease in Avon CT
Sentry Commercial is pleased to offer a variety of spaces for lease at 100 & 120 Simsbury Road, Avon CT. With its modern design and spacious layout, Avon Wellness Center is ideal for businesses seeking a professional, versatile, and welcoming environment.
Click here: Avon Wellness Center for more information.
9,370 SF Building New to West Hartford CT Industrial Market
Sentry Commercial is pleased to offer 37 Custer Street, West Hartford CT for sale. This 9,370 SF industrial building provides versatile space for manufacturing operations with power and air-lines distributed throughout, 100% air conditioning and ample parking.
Click here: 37 Custer Street, West Hartford CT for more information.
43,800 SF Building New to East Hartford CT Industrial Market
Sentry Commercial is pleased to offer 570 Tolland Street, East Hartford CT for sale. This 43,800 SF industrial facility on 1.67 acres is an appealing option for a wide variety of users.
Click here: 570 Tolland Street, East Hartford CT for more information.
New Pickleball Facility to Open in Simsbury
According to the Hartford Business Journal, a local sports group has acquired the franchise rights for Dill Dinkers Pickleball and is planning to open 10 new locations across Connecticut, starting with a facility in Simsbury. The initial site, previously a HomeGoods store, will feature seven pickleball courts within a 23,900 square foot space at Simsbury Commons Plaza, located at 500-530 Bushy Hill Road.
To read more, click here: Dill Dinkers group eyes 10 new CT pickleball locations, starting in Simsbury
Hartford Healthcare Opens New Farmington Office
Per the Hartford Business Journal, Hartford HealthCare has officially opened its new administrative office building in Farmington, which was acquired for $14.25 million. The office, located at 9 Farm Springs Road, spans approximately 133,500 square feet on a 13.3-acre site. It consolidates 12 departments and around 425 employees from four different locations, resulting in a reduction of about 250,000 square feet in office space and saving millions in costs.
Click Here: Hartford HealthCare opens new administrative offices in Farmington for more information.
South Windsor Facility Housing Amazon Sells for $20.74M
According to the Hartford Business Journal, an Amazon-occupied distribution warehouse located at 240 Ellington Road in South Windsor was recently sold by Indiana-based Scannell Properties. The warehouse encompasses 182,628 square feet on 15.9-acres and, was sold for $20.74 million.
Click Here: Scannell Properties sells South Windsor warehouse, leased to Amazon, for $20.74M for more information.
Center for Advanced Reproductive Services Opens Middlebury Office
Per the Hartford Business Journal, Center for Advanced Reproductive Services, affiliated with the University of Connecticut School of Medicine, has opened a new office in Middlebury. The facility, located at 751 Straits Turnpike, Suite 1S, aims to provide convenient access to fertility care for the local community and surrounding areas.
Click here for the full story: Center for Advanced Reproductive Services opens new office in Middlebury
Walgreens to Close 460,362SF Warehouse
According to the Hartford Business Journal, Walgreens has announced the closure of its distribution center located at 500 Forbes Road in Killingly, which will result in 322 job cuts. The closure is scheduled for on or about May 17, 2024. The 460,362-square-foot facility was sold last April for $48.07 million to Rim Properties 1.
To read the full story, click here: Walgreens plans to close Killingly distribution center, cut 322 jobs
Biotech Firm Opens New CT HQ
According to the Hartford Business Journal, a nonprofit biotechnology company, previously based in Boston, is inaugurating its new headquarters and laboratory facility in Woodbridge. The facility spans 30,000 square-feet at 4 Research Drive and will be showcased with tours and a ribbon-cutting ceremony. The organization focuses on developing treatments for rare and ultra-rare diseases.
Click Here: Former Boston-based biotech firm set to debut new CT HQ for more information.
Property Tax Assessment Appeals to Cut Millions from City Tax Rolls
Per the Hartford Business Journal, Hartford’s office market is facing challenges with landlords successfully appealing property tax assessments, leading to millions in lost city revenues. The city’s revaluation process has been questioned after two major downtown office towers had their values significantly reduced, resulting in tax refunds and future savings for the owners. This trend reflects the broader impact of the pandemic, as demand for office space declines and cities consider repurposing strategies to revitalize downtown areas.
Click Here: Market Reset: Hartford landlords’ successful property tax assessment appeals will cut millions from city tax rolls; more office sector storm clouds hover for more information.
State Approves $3M to Redevelop Hartford Diner
According to the Hartford Business Journal, the Community Investment Fund 2030 board has tentatively approved $3 million for the redevelopment of the former Aetna Diner at 267 Farmington Ave., in Hartford, into a community center. The 1,767-square-foot property is part of a broader initiative that includes $74.28 million in funding for various building projects across Connecticut. The board, established by state lawmakers, aims to allocate up to $875 million over five years for community-building projects in distressed municipalities.
For the full article, click here: State board approves $3M to redevelop former Aetna diner in Hartford; $74.3M green-lighted overall for building projects across CT
$6.5M State Grant Conditions Approved for Founders Plaza
Per the Hartford Business Journal, East Hartford’s Town Council has approved the conditions for a $6.5 million state grant to facilitate the redevelopment of Founders Plaza. The grant will be used to demolish a 182,890-square-foot former office building at 20 Hartland St., making way for a mixed-use development. This project aims to include up to 1,000 apartments and 300,000 square feet of commercial space.
To read the full article, click here: East Hartford approves conditions of $6.5M state grant for Founders Plaza redevelopment
Brewery Property in Suffield Sells for $1.5M
According to the Hartford Business Journal, the property hosting Broad Brook Brewing Co. in Suffield was recently sold for $1.5 million. The transaction included a 9,431-square-foot brewery building and 1.9 acres of land at 915 South St. Completed in 2020, the facility supports over 13,000 barrels of annual production and features a full kitchen.
Click Here: Broad Brook Brewing Co. property in Suffield sells for $1.5M for more information.
Waterbury to Receive $3.1M for Cleanup of Polluted Factory Site
According to the Hartford Business Journal, Waterbury was recently offered a $3.1 million state grant for the environmental cleanup of the former Waterbury Button Co. The factory site, located at 835 South Main St. spans 2.5 acres. The site requires investigation and cleaning to prepare for redevelopment. The cleanup is part of the city’s broader efforts to address abandoned industrial sites.
Click Here: for more information: Waterbury in line for $3.1M grant to cleanup polluted factory site
Farmington Manufacturer Acquires NJ Company
According to the Hartford Business Journal, a Farmington-based precision manufacturer, Connecticut Spring & Stamping (CSS), has acquired Tryco Tool & Manufacturing, with plans to relocate Tryco’s production from New Jersey to Connecticut. The transition, set to occur over three to six months, will consolidate operations within CSS’s expanded 200,000 square-foot headquarters and two other facilities in Farmington and Southington.
Click Here: Farmington manufacturer acquires NJ company with plans to move its operations to CT for more information.
East Hartford Warehouses Ready for Occupancy
According to the Hartford Business Journal, two warehouses, totaling 2.5 million square feet, have recently received temporary certificates of occupancy at Rentschler Field in East Hartford. These warehouses are leased to major retailers Wayfair and Lowe’s. The project is expected to generate approximately $4.9 million in property tax revenues for the upcoming fiscal year. While plans for additional advanced manufacturing buildings are in the pipeline, details regarding tenants and construction timelines remain pending.
Click Here: Massive East Hartford warehouses at Rentschler Field receive green light for occupancy for more information.
Self-Storage Planned for Enfield Site
According to the Hartford Business Journal, a new self-storage facility has been proposed in Enfield. The facility, planned at 210 Moody Rd., and will encompass 67,230 square feet of storage space distributed across 10 buildings, along with an office. Additionally, there are plans for a 13,900-square-foot expansion to an existing 28,000-square-foot warehouse and distribution center located at the intersection of Moody and Taylor roads. The warehouse, originally built in 2008, is located on 21.2-acres.
Click Here: New self-storage facility, manufacturer expansion planned in Enfield for more information.
6K SF Flex Space Available in South Windsor CT
Sentry Commercial is pleased to offer 6,250 SF for lease at 52-58 Connecticut Avenue, South Windsor CT. This attractive flex space offers a generous 4,875 SF of meticulously designed office space, two convenient large drive-in doors and is ideally located within minutes of I-291.
Click here: 52-58 Connecticut Avenue, South Windsor CT for more information.