Market
4K SF Office Sale in East Granby CT
Sentry Commercial is pleased to announce that Broadleaf Property, LLC has purchased 3 Creamery Brook, East Granby, CT from DSGT, LLC. The 4,000 SF office building on 1.18 acres sold for $1,000,000.
Sentry Commercial represented the buyer and Lis Real Estate, Inc. represented the seller in this transaction.
12K SF Industrial Sale in Newington CT
Sentry Commercial is pleased to announce that Holmes Asset Management, LLC has sold 20 Holmes Road, Newington, CT to Syman Properties, LLC. The 12,240 SF warehouse on 1.05 acres sold for $625,000.
Sentry Commercial represented the seller and was the sole broker in this transaction.
Medical Office Building in Bloomfield Sells for $1.27M
According to the Hartford Business Journal, Bloomfield Professional Arts Associates LLP recently sold their medical office building at 3 Northwestern Dr., in Bloomfield to a Massachusetts-based Yellowbrick Property LLC. The 10,105-square-foot property sits on 3.7 acres and sold for $1.27M.
Click Here: Bloomfield medical office building sells for $1.27M for more information.
Auto Paint Company Leases 45,000SF in Enfield
According to the Hartford Business Journal, An auto paint and equipment company, has secured a five-year, 45,000-square-foot lease for industrial space at 215 Moody Road in Enfield. The space will be used as the company’s distribution center for the Northeast, serving New England and upstate New York.
CLick Here: Auto paint company expanding in CT with Enfield lease for more information.
Waterbury Office Building Sold for $1.1M
According to the Hartford Business Journal, Waterbury-based municipal services company Quality Data Service Inc., recently acquired an office building in Waterbury’s East End for $1.1 million. The company currently operates from an 18,058-square-foot industrial flex building in Waterbury. The new 12,904-square-foot office building, located on 1.4 acres at 32 Mattatuck Heights Rd., was purchased to accommodate the company’s growth, with plans to relocate a portion of the staff in either early spring or fall.
To read the full article, click here: Loyal to Waterbury, growing municipal services company pays $1.1M for second city building
Warehouse in West Hartford sells for $1.7M
According to the Hartford Business Journal, Okee Industries recently sold its 30,186-square-foot warehouse in West Hartford to FLorida-based 91 Shield Street LLC. The property sits on 2.1 acres at 91 Shield St., in West Hartford, and sold for $1.7 million.
Click here: West Hartford warehouse sells for $1.7M for more information.
Office Space Available in Middletown CT
Sentry Commercial is pleased to offer 1,625 SF of office space at 101 Centerpoint Drive, Middletown CT for lease. The space is centrally located along the I-91 corridor and features modern high-end finishes and amenities.
Click here: 101 Centerpoint Drive, Middletown CT for more information.
Rocky Hill Retail Properties Sell for $11M
According to the Hartford Business Journal, A pair of retail strip properties, totaling 34,656-square-feet along Route 3 in Rocky Hill, were sold for $11 million on December 1. The purchases were made by two limited liability companies linked to a Glastonbury real estate investor. The larger building encompasses 26,236-square-feet and was purchased for $7.8 million, while the neighboring 8,420-square-foot retail building was acquired for $3.2 million.
Click Here: Two Rocky Hill retail properties sell for $11 million for more information.
Welding Company Purchases 20,000SF Industrial Property
According to the Hartford Business Journal, A welding company recently purchased a 20,000-square-foot industrial building in Waterbury for $1.4 million. The company, currently employing 10 people in a leased 1,900-square-foot shop in Newtown, plans to expand its workforce to 40 within a year. Specializing in commercial clients, including quarry operators and highway contractors, the company focuses on equipment repairs, fixture repairs, and fabricating components for highway signage. The new location is expected to facilitate broader service coverage, larger component production, and potential certification for bridge parts production.
Click Here: Growing welding, steel fabrication company targets 30 new jobs following $1.4M purchase of Waterbury HQ for more information.
IBM to Close 1.1 Million-Square-Foot Office
According to the Hartford Business Journal, IBM has confirmed plans to close its 1.1 million-square-foot office in Southbury. The tech giant owns the massive office building located at 150 Kettletown Road. A spokesman for IBM reported that there will not be any jobs eliminated as a result of the closure.
Click Here: IBM to shutter massive Southbury office in January for more information.
95,000SF Sports Bubble Opens in Windsor
According to the Hartford Business Journal, A $11 million, four-year project to construct the Day Hill Dome in Windsor was completed just in time for its opening. The 95,000-square-foot dome is part of a larger 150-acre development. The sports facility is complemented by other businesses in the area, including Dudleytown Brewing Co., restaurants, and potential future projects like hotels, apartments, and a velodrome for indoor cycling.
Click Here: $11M sports bubble opens in Windsor to roaring demand, spurring adjacent development interest for more information.
Warehouse Available in South Windsor CT
Sentry Commercial is pleased to offer 413 Strong Road, South Windsor CT for sale. This property features a 3,200 SF warehouse with five drive-in doors and a 1,265 SF residential house on .97 acres.
Click here: 413 Strong Road, South Windsor CT for more information.
Office/Retail Properties New to Glastonbury CT Market
Sentry Commercial is pleased to offer 2847-2849 Main Street, Glastonbury CT and 2851-2853 Main Street, Glastonbury CT for sale. These adjacent, commercially-zoned properties total 4,526 SF.
- Planned Business Development Zone allows for a wide variety of uses
- Owner/user or redevelopment opportunity
- Daily traffic count of 13,741
- Parking for 21 cars
- Easily accessible to and from Route 2 at exit 6 and I-91 via the Putnam Bridge
Click here: Main Street, Glastonbury CT for more information.
New Haven Building sold to Yale University for $139.6M
According to The Hartford Business Journal, Yale University has purchased a life science and office building in New Haven. The property consists of 518,940-square-feet at 300 George St. WE George Street LLC sold the property, which sits on 2.4-acres, to Yale University for $139.6 million.
Click Here: Yale Univ. buys downtown New Haven building for $139.6M for more information.
Massachusetts Firm Secures $47.5M Federal Grant for Construction of Electric Vehicle Battery Plant in Bridgeport
According to the Hartford Business Journal, a Massachusetts-based company plans to build a new facility in Bridgeport with the help of $47.5 million in funding from the U.S. Department of Energy. The company manufacturers electric vehicle batteries and is expected to bring 200 jobs at the new facility. Per the article, the company “…produces high-performing, low-cost batteries that decrease the cost of batteries by up to 27%, while implementing sustainable initiatives to conserve and reduce energy consumption…”
Click Here: Mass. company to construct EV battery plant in Bridgeport, with help of $47.5M federal grant for more information.
Stamford-based Developer Purchases Former Rensselaer Campus
According to the Hartford Business Journal, a Stamford-based developer recently paid $3.8 million for the former Rensselaer Polytechnic Institute campus north in downtown Hartford. The property, located at 275 Windsor St., also features 12.7-acres. Per the article, the developer “…submitted a special permit application to Hartford’s Planning and Zoning Commission seeking to build 473 apartments in two buildings, as well as a 507-space parking garage at the Rensselaer site.”
Click here: Developer Randy Salvatore buys former Rensselaer campus in Hartford for $3.8M for more information.
Bristol Manufacturing Building Sells for $7.1 Million
According to the Hartford Business Journal, a 205,128-square-foot manufacturing building, located at 50 Emmett St., was recently sold for $7.1 million. RGD Realty LLC sold the industrial property on 9.1-acres to Emmett Group LLC in a deal recorded in early November.
Click Here: for more information: Bristol’s RGD Technologies sells its manufacturing building for $7.1M
Cannabis Firm from Missouri Plans Retail Building Construction in East Hartford
Per the Hartford Business Journal, a Missouri-based cannabis company has submitted an application to build a retail store in East Hartford. While the size of the building has not yet been disclosed, the application lists approx. nine-tenths-of-an-acre at 32 Main St., as the potential site.
To read the full article, click here: Missouri-based cannabis company seeks to build retail building in East Hartford
KeyBank Vacates “Underutilized” New Haven Office Space
According to the Hartford Business Journal, amid hybrid and remote work models, KeyBank has made the decision to vacate their 3rd-floor office space at 195 Church St., in New Haven. Per the article, “at the end of the second quarter, the 3.3 million square feet of office space in New Haven’s central business district had a vacancy rate of 13.5%…”
Click Here for more information: KeyBank to vacate New Haven office space; former CT Market President Barger departs
Resilient Demand Persists for Medical Space Amid Challenges in the Office Sector
According to an article posted in the Hartford Business Journal, Connecticut’s medical office market is experiencing a notable upswing with increased investments, highlighted by a $300 million initiative targeting outpatient medical buildings in the region. Local acquisitions, including a 53,120-square-foot medical office building in Hamden and a $8.15 million purchase in Torrington, showcase a growing interest in the state’s medical office spaces. Despite challenges such as high interest rates and healthcare industry issues, Connecticut demonstrates robust demand, maintaining a 20% growth in medical office space over the past decade, coupled with a steady 94% occupancy rate and a shift towards higher rents due to limited new constructions.
To read the full article, follow this link: Despite office sector’s woes, demand for medical space remains robust