Market

AdviceOne expands to Waterford

AdviceOne LLC, a wealth management firm with offices in
Glastonbury and North Haven, recently opened another office at the Waterford
Professional Complex, 567 Vauxhall Street Extension in Waterford.

SentryCommercial represented AdviceOne in this transaction, and U.S. Properties
represented the landlord.    

C&M relocates to Killingly CT

C & M Corporation has leased 147,878 SF at 349 Lake Road, Killingly, CT. The wire and cable design and manufacturing company relocated its operations from Wauregan, CT to this 210,000 SF industrial facility on 20 acres.

Cassidy Turley represented the tenant and Colliers International represented the landlord in this transaction.

See attached Northeast Real Estate Business newsletter for more information.

Trevisan USA breaks ground in Suffield CT

East Granby CT based Trevisan USA LLC has recently broken ground on its new industrial facility in Suffield CT. The 17,000 square foot building will accommodate Trevisan’s previously announced expansion in the United States. The new facility is located on the corner of Austin and South Street. The project is being led by Bloomfield CT based PDS Engineering and Construction.

Exel Expands in Westfield MA

Ohio based logistics company, Exel, has recently expanded its operations at 1111 Southampton Road, Westfield MA. Exel has reportedly increased its occupancy at the 652,000 square foot facility to 400,000 square feet.

John Reed, of CBRE represented the landlord in this expansion.

SentryCommercial.com adds industrial sales and leases

Sentry Commercial is pleased to announce that, in addition to offering all available industrial properties (10,000 square feet and over), we have recently added industrial property lease and sales information to our website. Just go to the Sales & Lease Data  link and find data on the most recent industrial sales and leases (10,000 square feet and over) in the Connecticut and Western Massachusetts.

Sentry Commercial continues to be committed to being THE industrial expert and resource in Connecticut and Western Massachusetts.

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Yankee Clipper Books leases 82,329 SF in Windsor Locks

Yankee Clipper Books has recently signed a new lease at 295 Ella Grasso Turnpike, Windsor Locks, CT.  The online used book marketplace will occupy 82,329 SF of the 450,000 SF industrial warehouse located across from Bradley International Airport.

CB Richard Ellis represented the tenant and Colliers International represented the landlord in this transaction.

Industrial market conditions stabilizing/improving

The Connecticut/Western Massachusetts chapter of SIOR recently announced the results of its semi-annual membership survey and the results show an improving industrial real estate climate in the region.  Highlights include:

• Increased activity and continuing improvement from 2013 to 2014.
• Continued improvement for the rest of 2014.
• Continuing decrease in vacancy rates throughout 2014.
• Continuing stability in lease rates and sale prices throughout 2014.

On the not-so good side:

• The majority of members don’t see significant pricing increases (lease or sale) for the remainder of 2014.
• The majority of members don’t see  industrial development increasing significantly for the remainder of 2014.
• The majority of membership does not see significant growth in the corporate sector for the remainder of 2014.

The good news is more stability in the CT and Western MA markets. The bad news is there is no major driver of significant growth in our local economies either.

See link to the SIOR Market Report

East Longmeadow MA industrial sale

Agawam, MA based commercial developer and broker, Development Associates, has recently
purchased the 83,040 square foot, 8 acre property located at 45 Industrial
Drive, East Longmeadow MA from BSSD Realty. Purchase price was reportedly $1,850,000. Plastipak Packaging, Inc., an East
Longmeadow based manufacturer, presently leases the single story industrial
building. 
 

Macmillan & Son and Newmark Grubb Knight Frank represented
the seller in the transaction.

YoFarm expands in Naugatuck CT

According to the New England Real Estate Journal, The YoFarm Company, a division of the Dannon Corporation, has leased 80 Rado Drive, Naugatuck, CT. The 70,640 SF industrial facility on 14.56 acres will the allow the company to expand its YoCrunch Yogurt product line.

Matthews Commercial represented the tenant and Gretsch Commercial represented the landlord in this transaction.

Marsam expands in New Britain CT

Marsam Metal Finishing Company has purchased 206 Newington
Avenue, New Britain, CT for $300,000. The metal finishing company plans to expand its existing operations into the 138,000 SF industrial building, upgrade the
facility, purchase new machinery and equipment, and bring up to 25 new jobs to
the area.

See attached Commercial Record article for more information.

Manchester CT industrial sale

Melnick,
LLC has purchased 302
Adams Street, Manchester, CT from SJD Property Management, LLC.
The 2,538 SF industrial facility, which sits on
the corner of Adams Street and Hilliard Street, sold for $200,000. 
 

Sentry Commercial was the sole broker in this transaction.

Flooring company to expand in East Hartford CT

American Floor Covering, Inc. has purchased 88 Prestige Park Circle, East Hartford,
CT for $1,000,000. The flooring company plans to renovate the 76,525
SF industrial facility and relocate operations from Manchester, CT in the
first quarter of 2015.
 

Sentry Commercial represented
American Floor Covering and Cushman & Wakefield represented the seller,
Freemont Prestige I, LLC, in this transaction.

Sign Pro builds new Southington facility

Sign Pro, Inc. will be expanding into a newly constructed 30,000 SF facility on 2.8 acres at 60 Westfield Drive, Southington, CT. The sign design and installation company will relocate its operations from New Britain this fall.

See attached CCAED Newsletter for more information.

PFG sells Windsor CT facility

Performance Food Group (PFG), has sold its
distribution facility at 1 Market Circle, Windsor, CT for $4,500,000
to 1MC Connecticut, LLC.  The foodservice distributors will
reportedly leaseback 180,000 SF of the 349,320 SF industrial building
while they build a new facility in Western, MA. 
 

 CB Richard Ellis represented PFG in this transaction. 

King Industries finalizes Waterbury expansion

Specialty
chemical manufacturers, King Industries,Inc., has recently finalized the $750,000 purchase of an 11-acre
remediated brownfield site at 1975 Thomaston Avenue, Waterbury, CT. The
growing company is planning to construct an 80,000 SF manufacturing center in the Waterbury Industrial Commons.

See attached Hartford Courant
article for more information about this expansion.

Windsor CT manufacturer expands

Windsor CT based manufacturer, TLD Ace Corporation, has recently
acquired property located at 770 Bloomfield Avenue, Windsor. The 58,000 SF warehouse/manufacturing facility on 6.08 acres is located next to TLD’s
existing operations on Bloomfield Avenue.  Acquisition price was $2,045,000. The
seller was 24TR/Bloomfield LLC.

Smiths Detection closing in Danbury CT

According to newstimes.com,
Smiths Detection, a Maryland
based defense contractor and manufacturer has announced it is closing its
Danbury CT facility and consolidating operations to its Maryland
headquarters.  The move jeopardizes up to 130 local jobs and leaves a 30,400 SF facility at 21 Commerce Drive, Danbury, CT  vacant.    

See related article: Danbury manufacturer to close shop.

EGI expands to Glastonbury CT

New York-based IT company, The Ergonomic Group (EGI) has purchased 65 Kreiger Lane, Glastonbury, CT.  The property was sold by R.A.D.D. Company of Glastonbury for $980,000.  With locations in New York, Massachusetts and New Jersey, the company further expands its Northeast presence and will house its Connecticut operations in this 9,500 SF flex building.

NEJ leases 150,000 SF in Waterbury CT

Beacon Falls based NEJ, Inc. has recently leased approximately 150,000 square feet of warehouse space at 400 Captain Neville Drive, Waterbury CT.  NEJ will reportedly relocate its warehouse operations on Railroad Avenue, Beacon Falls to the new facility. Waterbury based Cornerstone Realty owns the 208,000 square foot, 18 acre property.

Ed Godin, of Matthews Commercial Properties LLC was the listing broker.

South Windsor industrial sale

AD&M
Associates, LLC has sold 1390 John Fitch Boulevard, South
Windsor, CT for $600,000.  The 30,570 SF industrial facility on 1.2 acres was purchased by RDB, LLC. 
 

 SentryCommercial was the sole broker in this transaction.