Market
Price Reduced on 15K SF in East Granby CT
Sentry Commercial is pleased to present 20 Connecticut South Drive, East Granby for sale at the reduced price of $945,000. This 15,416 SF industrial building on 2.95 acres offers 3,300 SF of office, 2 dock doors, 1 drive and is located in an attractive industrial area with easy access to Route 20 and I-91. The property is also available for lease.
Click here: 20 Connecticut South Drive, East Granby for brochure, plans and property slideshow.
Amazon Expands to Holyoke MA
According to MassLive, Amazon will open a new distribution center at 161 Lower Westfield Road, Holyoke. The 145,000 SF facility on 28.13 acres, currently under renovation, will be open for business this fall and is expected to bring hundreds of new jobs to the area.
6K SF Lease in Agawam MA
Fire Equipment, Inc. has leased 6,000 SF at 62-68 Gold Street, Agawam MA. The 20,000 SF facility is owned by Suffield Street Partnership, LLP.
Sentry Commercial represented the tenant and Development Associates represented the landlord in this transaction.
11.7 Acre Land Sale in Bloomfield CT
Action Technology and Investment, Inc. has sold 43 West Dudley Town Road, Bloomfield to a freight and trucking company. The 11.7 acre parcel sold for $105,000. Less than half of the land is developable because of existing wetlands.
Sentry Commercial was the sole broker in this transaction.
Banneker Leases 30K SF in Enfield CT
Banneker Supply Chain Solutions, Inc. has leased 30,000 SF at 250 South Road, Enfield. The 114,300 SF industrial facility on 8.98 acres is owned by Maragust Holdings, LLC.
Sentry Commercial was the sole broker in this transaction.
Saand Facility in Webster MA Sold to Investors
According to the Worcester Business Journal, Toronto-based glass manufacturer Saand has sold 5 Cudworth Road, Webster to GFI Partners of Boston. The 168,000 SF industrial facility sold for nearly $6 million.
11K SF Industrial Sale in Bloomfield CT
Goosetown Communications has purchased 7A Old Windsor Road, Bloomfield for $605,000. The 11,214 SF industrial facility on 0.93 acres was previously owned and occupied by Independent Pipe and Supply Corporation.
Sentry Commercial partnered with both parties in this transition, and we couldn’t be more proud of the results!
Associated Materials Renews Berlin CT Lease
Associated Materials, Inc. has renewed its lease at 114 New Park Drive, Berlin. The exterior building product manufacturers have occupied 27,212 SF of the 88,765 SF industrial facility on 13.77 acres since 2003.
Sentry Commercial, in association with Newmark Knight Frank, represented the tenant in this transaction. The landlord, 114 New Park Drive Associates, LLC, was unrepresented.
CT Breweries Expanding in Response to Senate Bill 647
According to the Hartford Business Journal, three of Connecticut’s largest craft brewers are expanding their operations in response to recently passed legislation that industry experts are calling the most significant liquor reforms since the Prohibition era. Bloomfield-based Thomas Hooker Brewing Company, Hartford’s Hog River Brewing Company and Manchester’s Labyrinth Brewing Company have begun adding square footage, new equipment and selections in the wake of the recent passing of last month’s Senate Bill 647. The bill allows for almost triple the amount of beer a customer can purchase at breweries for off site consumption. With the bill in place, new opportunities for Connecticut’s 92 operating breweries has the potential to contribute an estimated $3.1 billion annually to the state’s economy.
35.84 Acres New to Bloomfield CT Market
Sentry Commercial is pleased to present 61 East Dudley Town Road, Bloomfield for sale. This 35.84 acre industrial parcel is well suited for a company looking to expand their recycling and waste management company. The site is fully permitted and includes both a modular office and 100-ton scale.
Click here: 61 East Dudley Town Road, Bloomfield for more information.
Ensign-Bickford to Expand Simsbury CT Headquarters
According to the Hartford Courant, Ensign-Bickford Aerospace & Defense Company is planning an expansion of its Simsbury headquarters, and intends to bring about 140 high-paying jobs to town over the next three years. The company will be making a $10 million investment over the next five to ten years, to create a “center of excellence” for electronic design and manufacturing at the 640 Hopmeadow Street, Simsbury facility. The town has estimated that for every $1 the town invests in this deal, Ensign-Bickford will invest $30.
Bushnell Park South Redevelopment Project
According to the Hartford Courant, the purchase of the historic 55 Elm Street, Hartford office building is expected to be finalized by the end of this year. The agreement also covers four adjacent parking lots and is seen as the key to redeveloping the area that has come to be known as “Bushnell Park South.” Renovation and redevelopment plans include transforming the parking lots into mixed-use development, housing, shops and restaurants, creating a link between Bushnell Park and neighborhoods to the south.
8K SF New to Plainville CT Market
Sentry Commercial, on behalf of Forestville Realty, LLC, is pleased to present 97 Forestville Avenue, Plainville for sale. This 7,900 SF industrial facility on 1.11 acres features a new roof, multiple drives, buss bars, 1,800 SF of office space and is suitable for multiple uses.
Click here: 97 Forestville Avenue, Plainville for brochure, plans and property slideshow.
Transfer Act Changes on the Way
Article SB-1030, an act concerning the Transfer Act, has been passed by Connecticut Congress by a staggering 149-0 Yes vote. The Act was recently signed by Governor Lamont and has four significant changes:
- Shortens the audit period for commencing audits of Transfer Act verification’s from three years to one year.
- Excludes certain property and businesses from the Transfer Act by narrowing the types of hazardous waste that count towards the 100-kilogram threshold that triggers the law’s application.
- Reduces the general audit window for Transfer Act verification’s from three years to 60 days and will modify the fee for filing certain Transfer Act forms.
- Last, but certainly not least, the bill requires the Commerce & Environmental committee chairs to convene a working group for additional future changes
The effective date for these changes is October 1st, 2019
The Impact of the Transfer Act will have significant, positive effects on Connecticut’s economy. For any further details feel free to read Article SB-1030 below or contact us at (860) 528-0884.
236K SF Office Sale in Farmington CT
According to the Hartford Business Journal, Pond View Development LLC has purchased 74-76 Batterson Park Road, Farmington from Fusco Farmington Associates L.P. The 236,302 SF Pond View Corporate Center office campus sold for $19.95M.
$13M Industrial Portfolio Sale in Manchester CT
According to the Hartford Courant, 1055 Crossroad Boulevard, LLC purchased seven industrial properties in Manchester from Manchester Properties, LLC for a total of $12,915,000.
The portfolio includes the buildings and land parcel below:
186 Adams Street: 54,156 SF on 5.4 acres.
200 Adams Street: 16,100 SF on 2 acres.
700 Parker Street: 4 acres.
8 Progress Drive: 63,000 SF on 4.76 acres.
203 Sheldon Road: 12,966 SF on 1.44 acres.
255 Sheldon Road: 43,500 SF on 4 acres.
171 Utopia Road: 50,800 SF on 4 acres.
Major Downtown Hartford Redevelopment Project Proposed
According to the Hartford Business Journal, a $100 million residential-commercial downtown Hartford development linking Trumbull Street and Main Street has been proposed. The project would create 375 new apartments and town homes, plus 45,000 square feet of retail, mainly along the south side of Pratt as well as 196 units by renovating current student-housing space to the rear of The Lofts at Main & Temple. This would be the first major joint development involving some of downtown’s most active landlords and involve several significant Hartford area realty investors.
Price reduced on 12K SF in Manchester CT
Sentry Commercial is pleased to offer 60 Progress Drive, Manchester for lease at the reduced rate of $3.95 nnn. This 12,000 SF space offers two docks, 18′ clear heights and is subdividable to 6,000 SF.
Click here: 60 Progress Drive, Manchester for brochure, plans and property slideshow.
HORST Engineering Expands in East Hartford CT
HORST Engineering has purchased 141 Prestige Park Road, East Hartford CT from 141 Prestige Park LLC for $1.45M. The family-owned contract manufacturer of precision machined components for aerospace and other high technology industries will relocate from three buildings (26,000 SF at 36 Cedar Street, East Hartford, 7,000 SF at 41 Cedar Street, East Hartford, and 16,000 SF at 490 Burnham Street, South Windsor) into the 100,566 SF industrial facility over the coming months.
Sentry Commercial represented the buyer and Goman + York represented the seller in this transaction.
16K SF New to Southington CT Market
Sentry Commercial is pleased to present 339 Clark Street, Southington for sale. This 16,020 SF industrial facility on 2.16 acres offers 3,700 SF of air conditioned office space, multiple dock doors, one large drive-in door and a clear span rear warehouse.
Click here: 339 Clark Street, Southington for brochure, plans and property slideshow.