Category: Connecticut

Hartford, CT Olymbec, the leading real estate developer in eastern Canada, has expanded their market share in the state through their Olymbec USA arm. Its recent acquisition of the East Market Portfolio consists of three large class A prestigious office buildings, two of which are in East Hartford and one in Glastonbury.

Hartford, CT Holliday Fenoglio Fowler, L.P. (HFF) completed the sale of a two-property portfolio that includes 460 Hartford, a 36,000 s/f, multi-specialty outpatient facility, and 8 Keynote, a 22,500 s/f home health service facility. Both properties are fully leased to Eastern Connecticut Health Network (ECHN), a wholly-owned subsidiary of Prospect Medical Holdings, and are in the Hartford-area community of Vernon. 

East Hartford, CT The town has completed its $3.3 million purchase of the abandoned Showcase Cinemas along I-84 east, according to the mayor, who says the site will be razed and redeveloped.

Hartford, CT STV|DPM has completed the physical relocation of the North East Transportation Company, Inc. (NET). Through a management contract with CT Department of Transportation, NET provides public bus transit services in the greater Waterbury, Meriden and Wallingford areas.

Despite being overshadowed by other provisions of the massive 2017 Tax Cuts and Jobs Act, the Opportunity Zone incentive included in that legislation may present the most significant and longest term economic impacts for the country. Investors, community activists, and real estate developers are just beginning to parse the potential $6.1 trillion opportunity promised in the program’s name.

Branford, CT The Geenty Group, Realtors, completed the sale of a 4,412 s/f building at 100 North Branford Rd. The sale price was $290,000. The sellers are Roger and Barbara Richard. The buyers are Mark and Lauren DeFrancesco, they will be using the first floor of the building for their present business and retain the present residential apartment tenants on the second and third floors.

West Haven, CT Michael Richetelli, president and designated broker of Colonial Properties, Inc., has completed the following transactions: Richetelli was the sole broker and represented the seller in the sale of 81 Farwell St. The 11,000 s/f light industrial building on .88 acres,

The architectural, engineering, and construction industry (AEC) is one of the most dynamic and complex industries in the world. Whether deciding financial parameters for a construction project, designing a structure that merges aesthetics with function, calculating the materials needed, orchestrating the construction process, or evaluating how a project will affect a community

Hartford, CT The Connecticut/ Western Massachusetts chapter of the Society of Industrial and Office Realtors (SIOR) recently announced a slate of upcoming spring events. • March 14: The Chapter’s Spring meeting was held at Greenbox Interior Solutions in Hartford at the historic former Colt complex.

Glastonbury, CT CCIM Connecticut Chapter hosted a breakfast meeting at Glastonbury Hills Country Club. The meeting was a 2019 Commercial Real Estate Tax Update and Local Impact Session. Brian Newman, CPA and Edmund Kindelan, CPA with CohnReznick and were presenters.

Monroe, CT In an off-market transaction, 456 Main St. has been sold by The Florence G. Knees Revocable Trust to Jambs, LLC. The sale price was $1.5 million. The one-acre commercial property is 100% leased to Alliance Energy, LLC

What was your first job and what did you learn from it? My first real job was teaching English in a middle school. I learned that to communicate effectively with kids you need to enter into the conversation with respect, patience, and some serious listening skills; and that your first few words will set the tone for success or failure. Communication with adults