Market
Talcott Center relocates in Farmington CT
The Talcott Center for Child Development has leased space at 304 Main Street, Farmington. The comprehensive, privately owned therapy center for children with special needs and their families, has relocated from 230 Farmington Avenue, Farmington.
Sentry Commercial was the sole broker in this transaction.
Infinity Group relocates to Hartford CT
According to the Hartford Business Journal, Infinity Group has leased 3,000 SF at 20 Church Street, Hartford CT. The office design company relocated its headquarters from 68 East Dudley Town Road, Bloomfield.
Price reduced on 11.7 acres in Bloomfield CT
Sentry Commercial is pleased to offer 43 West Dudley Town Road, Bloomfield for sale at the reduced price of $150,000. This 11.7 acre parcel offers full utilities in the street, level topography and is located at the end of Old Windsor Road.
Click here: West Dudley Town, Bloomfield for property brochure and site plan.
UCONN Campus sale in West Hartford CT
According to the West Hartford Patch, Seven Stars Cloud Group, Inc. (SSC) has purchased 1700 & 1800 Asylum Street, West Hartford. The former UCONN campus will be converted by the blockchain technology company into a research, training and business development center called Chain Valley. The $283M project is expected to create 330 jobs over the next five years.
JC Penney warehouse sale in Manchester CT
J.C. Penney Properties, Inc. has sold 1339 Tolland Turnpike, Manchester to PFFWE1339 Tolland Turnpike, LLC. The 1.9M SF distribution warehouse on 163 acres sold for $70M. J.C. Penny will maintain 60,000 SF while the buyer, an affiliate of Winstanley Enterprises, will invest an estimated $40M to reconfigure the remaining space to suit individual industrial tenants.
See attached Hartford Business Journal article for more information on this transaction.
Trinity College office sale in Hartford CT
According to the Hartford Business Journal, BHN Associates and LHR Group have purchased 200 Constitution Plaza, Hartford from Trinity College. The 135,000 SF office building sold for $2.6M.
New mixed-use development in West Hartford CT – UPDATE
August 3, 2016 Sentry Commercial is pleased to announce that Trout Brook Realty Advisors, as established by the West Hartford Housing Authority, has purchased 610-620 New Park Avenue, West Hartford for $935,000. The non-profit corporation has secured $10M in federal tax credits from the Connecticut Finance Housing Authority and $5M from the Department of Housing to construct the mixed-use commercial and residential development. Sentry Commercial was the sole broker in this transaction.
UPDATE: According to the Hartford Business Journal, construction is complete on 616 New Park. The $20M mixed-use apartment community next to the Elmwood CTfastrak station debuts this week.
WaterCo of New England Expands in Windsor CT
WaterCo of New England has leased 9,520 SF at 920 River Street, Windsor. The water delivery and supply company relocated from 6,000 SF at 530 Hayden Station Road, Windsor.
Sentry Commercial represented WaterCo and Windsor Management represented the landlord, Kennedy Parks LLC, in this transaction.
Invicro expands to New Haven CT
According to New Haven Biz, Boston-based Invicro, LLC has subleased 39,576 SF at 100 College Street, New Haven from Alexion Pharmaceuticals. The 500,000 SF, 14-story flex facility is owned and managed by Winstanley Enterprises.
Alexion is moving its headquarters to Boston this summer, and will vacate 300,000 SF in New Haven while retaining 200,000 SF of lab space for research.
40K SF Sale in East Hartford CT
Gary and Elaine Rooke have purchased 654 Tolland Street, East Hartford from Gator Realty, LLC. The 40,401 SF industrial facility on 1.58 acres sold for $690,000.
Sentry Commercial was the sole broker in this transaction.
UCONN honors Mark Duclos, SIOR, CRE
Sentry Commercial President, Mark Duclos, SIOR, CRE, was recently honored at the UCONN School of Business, Real Estate Center’s Annual Awards Banquet, as an Individual Partner of the Year. The 16th Annual Awards Banquet honored alumni and other outstanding leaders in the commercial real estate industry. The banquet was held at the Rome Ballroom on UCONN’s Storrs Campus.
Magnetic Technologies expanding to Putnam CT
PUTNAM, CT
According to the Hartford Business Journal, Oxford, MA-based Magnetic Technologies, LTD will construct a new $5.26M headquarters/production facility on Highland Drive in the Putnam Industrial Park. The Department of Economic and Community Development will provide a $1.5M partly forgivable loan for the project which is expected to begin next year and bring up to 40 new jobs to Windham County by 2023.
79K SF industrial sale in Sterling MA
Biomedical Polymers has purchased 16 Chocksett Road, Sterling MA from The Cycles 2003 Realty Trust. The 78,757 SF industrial facility on 7.76 acres sold for $5.1M. The Stubblebine Company/CORFAC International represented the buyer and Kelleher & Sadowsky represented the seller in this transaction.
See attached RE Business Online article for more information.
Global Atlantic expands to Hartford CT
According to the Hartford Courant, Global Atlantic Financial Group has relocated from Simsbury to 755 Main Street, Hartford. The New York-based financial services company now occupies 24,000 SF in the Gold Building to accommodate anticipated growth and hiring.
WuXi to expand from China to Worcester MA
According to a MassLive article, WuXi Biologics has announced plans to open a 100,000 SF clinical and commercial manufacturing facility at the site of the former Worcester State Hospital. The biopharmaceutical company will invest $60M and hire approximately 150 employees.
170K SF new to Newington CT market
Sentry Commercial, as exclusive agent for Beacon Industries, is pleased to present up to 170,535 SF for lease at 549 Cedar Street, Newington. The space offers multiple bridge cranes, loading docks, a large outdoor storage area and is located just minutes from Route 9 and I-84.
Click here: 549 Cedar Street, Newington for brochure, plans and property slideshow.
Price reduced on 84K SF in Bloomfield CT
Sentry Commercial is pleased to offer 45 Griffin Road South, Bloomfield for the reduced sale price of $3,700,000. This attractive 84,000 SF high-tech manufacturing facility on 9.25 acres is ideal for an owner/occupant.
Click here: 45 Griffin Road South, Bloomfield for brochure, plans and property slideshow.
Amazon distributor relocating to Bradley International from RI
According to WPRI.com, Texas-based Pinnacle Logistics, a company that supplies warehousing for Amazon, will close its North Kingston Rhode Island operations and relocate them to Bradley International Airport in Windsor Locks CT. The move will affect 149 jobs presently located at T.F. Green Airport. Pinnacle will also be vacating approximately 225,000 square feet of warehouse space.
Terms of the relocation were not announced at the time of this report.
See link for WPRI.com report: Amazon’s distributor leaving RI for Hartford
Price reduced on 18K SF in Bristol CT
Sentry Commercial is pleased to offer 135 Cross Street, Bristol CT at the reduced price of $725,000. This 17,792 SF free standing industrial facility on 1.88 acres offers one dock, one drive-in door and 5,000 SF of office space. Economic incentives available.
Click here: 135 Cross Street, Bristol for brochure, plans and property slideshow.
UTC announces nationwide expansions
According to MassLive, United Technologies Corporation plans to hire 35,000 people nationwide (thousands of those jobs will be in Connecticut), and spend more than $15B on capital improvements over the next five years.
The global aerospace and technology company will also spend an additional $75 billion through local procurement of products and services, money that could include components from precision manufacturers throughout Springfield, MA.