250 Bradley St., East Haven
Wisconsin-based ABC Supply Co. has leased a 30,800-square-foot warehouse at 250 Bradley St. in East Haven for five years from A&H Estra LLC. The location will be ABC’s newest building products showroom and distribution center in Connecticut. The aggregate rental value of the five-year deal is $808,500.
Alan M. Fischer of Bridgeport-based Fischer Real Estate represented both the tenant and the landlord in the transaction.
Founded in 1976, Fischer Real Estate specializes in helping people who want to buy, sell, lease or develop commercial, industrial or investment properties throughout Connecticut.
Liuzzi Buys Building
Joel Nesson, senior advisor at Hamden-based Press/Cuozzo Commercial Services, was the sole broker in the sale of a 28,000-square-foot industrial building located at 72 Rossotto Drive in Hamden, which is set on 2.26 acres. New owner Liuzzi Cheese is planning to renovate the space and open a new cheese-manufacturing facility at the Hamden location.
The sale price was $1.4 million and the transaction closed last month. Nesson was the sole broker for the property and represented the seller, Matt-Kate LLC, and the buyer, L&N Properties. The seller was represented by Joseph Faughnan of Sussman Duffy & Segaloff and the buyer was represented by attorney John Zullo.
Lincoln Expands in Shelton
Lincoln Educational Services, a major provider of post-secondary career education and training, recently expanded its New England Technical Institute Shelton campus at 8 Progress Drive by an additional 15,000 square feet. The institution now occupies nearly 80 percent of the building, or a total of 46,000 square feet, on a long-term lease.
Lincoln Educational Services became a tenant in the building following its acquisition of New England Technical Institute this year. The campus is one of the institution’s busiest in Connecticut. The new space is currently under construction, with occupancy expected early next year.
CB Richard Ellis’ Sean Cahill, Michael Dillon and Michael Nelson represented Winstanley Enterprises, the owner of the building, in the transaction. Approximately 10,000 square feet of space remains available at 8 Progress Drive, represented by the same team as exclusive leasing agent. The space is also divisible into smaller blocks. In addition, the property is available for sale as an investment.
Completely renovated in 1999, 8 Progress Drive is a 2-story, 63,500-square-foot Class A office building located in one of Fairfield County, Connecticut’s most active corporate corridors. The building is between Exit 11 and Exit 12 of Route 8, with easy access to the Merritt Parkway and Interstate 95. In addition to Lincoln Educational Services, Noresco Inc. occupies space at the campus, making the property a valuable investment given the income stream generated by the current tenant roster and upside potential upon full occupancy.
CB Richard Ellis, a Fortune 1000 company based in Los Angeles, is the world’s leading commercial real estate services firm (in terms of 2004 revenue). The company serves real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. Including partners and affiliates, the company has 300-plus offices in more than 50 countries around the world.
