Market
Bitcoin in Real Estate
There have been a number of questions in the commercial real estate circles asking if we will see cryptocurrencies (digital currency – what most of us call Bitcoin) used as a form of payment in the commercial real estate industry. Much of the opinions have been “yes, but not now”. According to this article in today’s Wall Street Journal, the answer is actually, “yes, in fact they are using it as we speak”! Limited…but being used nonetheless. Payment of rent, purchase of property. States beginning to use blockchain technology.
Interesting quick read! See attached WSJ article: Bitcoin is Creeping Into Real Estate Deals
Carla’s Pasta Expands in South Windsor CT
Carla’s Pasta has broken ground on a 70,000 SF expansion at 50 Talbot Lane, South Windsor CT. This is the pasta maker’s third expansion in 15 years. The new facility is scheduled to open next spring and is expected to add up to 60 employees when complete.
See attached Hartford Business Journal article for more information.
Target Sports Expands to Cheshire CT
Target Sports has purchased 30 Fieldstone Court, Cheshire, CT. The 35,300 SF warehouse facility on 4.3 acres sold for $1,325,000.
Godin Property Brokers was the sole broker in this transaction.
See attached NEREJ article for more information.
BTX Renews Windsor CT Lease
BTX Global Logistics, has renewed its 5,100 SF lease of office and
industrial space at 800 Marshall Phelps Road, Windsor, CT. Marshall
Phelps Road is a 40,000 SF industrial facility located on 24.1 acres, owned and
managed by Sponzo Enterprises, LLC.
Sentry Commercial
represented the tenant in this transaction.
50K SF New to East Hartford CT Market
Sentry Commercial is pleased to offer 50,755 SF for lease at 69 Leggett Street, East Hartford. The space has 6,500 SF of finished offices and 44,255 SF of warehouse space with multiple loading docks.
Click here: 69 Leggett Street, East Hartford for brochure, plans and property slideshow.
Sentry Commercial Acquires Interest in Property Management Firm
Sentry Commercial is pleased to announce it now offers property and asset management through its recently acquired interest in Avon CT based Commercial Property Advisors.
Founded in 1984 by Michael Levin, Commercial Property Advisors specializes in industrial, office and retail property management as well as asset management in Connecticut and Western Massachusetts. The present Commercial Property Advisors team will continue to manage the firm.
12K SF New to Manchester CT Market
Sentry Commercial is pleased to offer 60 Progress Drive, Manchester for lease. This 12,000 SF space has two docks, 18′ clear heights and is subdividable to 6,000 SF.
Click here: 60 Progress Drive, Manchester for brochure, plans and property slideshow.
Office Building Available for Sale in Canton CT
Sentry Commercial is pleased to offer 85 River Road, Canton for sale. This 7,582 SF office building on 1.61 acres is located 1/3 mile from Route 44 and 1.4 miles from Collinsville.
Property Features:
4,590 SF immediately available
Ideal for partial or full building user
5/1,000 parking
Click here: 85 River Road, Canton for brochure, plans and property slideshow.
1.17 Acres New to Cromwell CT Market
Sentry Commercial is pleased to represent C&G Holdings, LLC in the sale of Lot 7-2, Commerce Drive, Cromwell. This 1.17 acre parcel can accommodate up to 13,348 SF.
Click here: Commerce Drive, Cromwell for brochure and site plan.
26K SF New to Vernon CT Market
Sentry Commercial is pleased to offer 166 Tunnel Road, Vernon for sale or lease. This 26,250 SF facility on 3.55 acres offers 60% finished offices, 2 docks, 3 drives, 100% air conditioning and easy on/off access from I-84.
Click here: 166 Tunnel Road, Vernon for brochure, plans and property slideshow.
30K SF Industrial Sale in Bloomfield CT
12 Tobey Road, LLC has purchased 12-14 Tobey Road, Bloomfield, CT from Novarr Enterprises, LLC. The 29,886 SF facility on 1.81 acres sold for $595,000.
Sentry Commercial represented the seller in this transaction. The buyer was unrepresented.
53K SF new to East Hartford CT market
Sentry Commercial is pleased to offer 95 Leggett Street, East Hartford for lease. This 53,000 SF industrial space has exceptional clear height of 30′ and offers 5 docks and 2 drive up ramps.
Click here: 95 Leggett Street, East Hartford for brochure, plans and property slideshow.
Griffin announces 234K SF lease in Windsor CT
New England Tradeport
Griffin Industrial Realty, Inc. has announced that it entered into a full building lease for an approximately 234,000 SF industrial/warehouse building to be built in New England Tradeport, Griffin’s industrial park in Windsor and East Granby, CT. The tenant is an investment grade company that intends to use the building for the distribution of automotive parts.
10K SF industrial sale in South Windsor CT
Monika Czop has
purchased 279 Nutmeg Road South, South Windsor, CT from 279 Nutmeg
Road South, LLC. The 9,916 SF facility
on 2 acres sold for $625,000.
Sentry Commercial was the sole broker in this transaction.
13K SF new to South Windsor CT market
Sentry Commercial is pleased to offer 250 Nutmeg Road South, South Windsor for sale. This 12,800 SF industrial condo has attractive offices along with 9,196 SF of engineering space and is 100% air conditioned.
Click here: 250 Nutmeg Road South, Units J, K, L & M, South Windsor for brochure, plans and property slideshow.
Price reduction in Hartford CT
Sentry Commercial is pleased to offer 48 Main Street, Hartford for the reduced price of $299,000. This 4,565 SF office building is sub-dividable for up to four tenants and is easily accessible from I-84 and I-91.
Click here: 48 Main Street, Hartford for brochure, floor and site plans.
30K SF new to Suffield CT market
Sentry Commercial is pleased to offer 1160 South Street, Suffield for sale or lease. This 29,920 SF industrial facility on 1.97 acres is located one mile from Bradley International Airport and offers 2 docks, 1 drive, and up to 11,840 SF of office space.
Click here: 1160 South Street, Suffield for brochure, plans and property slideshow.
67K SF new to East Hartford CT market
Sentry Commercial is pleased to offer 95 Leggett Street (Rear), East Hartford for sale or lease. This 66,759 SF industrial facility offers exceptional clear heights of 25′ – 30′, five tailgate dock doors and one drive up ramp.
Click here: 95 Leggett Street, East Hartford for brochure, plans and property slideshow.
Duclos awarded CRE credential by The Counselors of Real Estate
Mark Duclos, SIOR, CRE,
President of Hartford CT based Sentry Commercial, has been awarded the CRE (Counselor of Real Estate) credential by The
Counselors of Real Estate, an international group of high profile real estate
practitioners who provide expert advisory services to clients on complex real
property and land-related matters. The credential
was awarded in September at the Counselors’ 2017 Annual Convention in Montréal.
Duclos has practiced commercial real estate brokerage and consulting since 1986
and co-founded Sentry Commercial in 1991.
Membership in The Counselors of Real Estate is selective and is
extended by invitation only, attesting to the practitioner’s expertise and
proven competence in his or her chosen area of real estate. Members receive the
CRE credential in recognition of proven
superior problem-solving ability. Once
invited to membership, Counselors must adhere to a strict Code of Ethics and
Standards of Professional Practice. Counselors
are recognized in the marketplace as having consistently demonstrated the
highest levels of knowledge, experience, integrity, and judgment. Fewer than
1100 real estate professionals currently hold the CRE credential.
The Counselors of Real Estate, established in 1953 and headquartered in
Chicago, Illinois, is an international professional organization whose members
provide objective, reliable advice and counsel on matters affecting all forms
of real property in the United States and abroad. Members include ranking
representatives of real estate consulting, financial, legal and accounting firms
as well as leaders of Wall Street, government and academia.
Sentry Commercial and NGKF complete sale of six building industrial portfolio
69 Leggett Street, East Hartford
Sentry Commercial and Newmark Grubb Knight Frank have completed
the final building sale of a six-building portfolio assignment in East Hartford, CT. The team was initially hired by New Boston EH, LLC to sell a total of
approximately 325,000 SF of industrial space. The recent sale of the
71,655 SF building at 69 Leggett Street completed that assignment,
selling all six buildings to expanding companies who will substantially utilize
all of the facilities for their own use.
Building sales included 22 Rumsey Road (30,215 SF), 71
George Street (53,325 SF), 60 Meadow Street (52,214 SF), 33 Leggett Street
(43,983 SF) and 47 Leggett Street (71,619 SF).