1 Commercial St., Branford
One of the nation’s largest distributors of industrial fasteners and construction supplies has signed a long-term lease in recently renovated space at 1 Commercial St. in Branford.
The Fastenal Co., based in Winona, Minn., has leased 5,000 square feet of space and opened its latest Connecticut location in a 40,000-square-foot multi-tenant building off Interstate 95, according to Frederick Petrella, president of the New Haven-based Connecticut Realty Group, which brokered the deal. Petrella is also a partner in Corner Properties, which owns and manages the space.
“Fastenal was looking to open a new location in the Branford area and needed not only a modern space, but one that was easily accessible for its customers and met its needs as a distributor,” Petrella said. “They found all of that in this building, which saw nearly $1 million in renovations since our purchase and is located just off the highway.”
The building now houses Fastenal’s 17th location in Connecticut, said Tim Townsend, the company’s district sales manager. Fastenal had been looking for some time to open a Greater New Haven operation and found what it needed in the Commercial Street facility, he noted.
“We opened there because of the potential for business that’s in the area,” said Townsend. “Also, it’s right off the road and easily accessible for our customers.”
Along with a full line of industrial fasteners, Fastenal distributes tools and equipment, cutting tools and abrasives and items for a variety of industrial and construction uses. Its product line also includes hydraulics, pneumatics, plumbing and HVAC tools and equipment, as well as products for materials handling and a range of janitorial, electrical, welding and safety supplies.
The company was the first to move into the renovated facility, Petrella said. He and partner Richard Michaud, also of New Haven, founded Corner Properties in 2000 and bought the former manufacturing facility in December 2004, investing nearly $1 million in its renovation and redevelopment.
“The building was basically just a masonry block manufacturing building,” Petrella said. “We transformed it from an old, dark manufacturing space into a high-tech, multi-use facility, suitable for sales and service, light industry and office space.”
Today, the building is home to three tenants occupying about half of the facility, while the remaining space is now in negotiations for a potential tenant. Overall, Corner Properties owns about 250,000 square feet of space throughout Greater New Haven.
Moore Inks Wilton Deal
Moore, a regional leader in physical therapy and sports training, has signed a 9,600-square-foot lease at 37 Danbury Road in Wilton, adding to the company’s regional network in lower Fairfield County.
George Walker of Albert B. Ashforth Inc. represented Moore exclusively in the 10-year transaction. Lee Wilson of Wilson Properties, the landlord, represented its own interest.
Moore’s new Wilton location will feature a custom-built athletic training facility alongside its physical therapy and wellness facility. When the new center opens in the spring of 2007, the company will offer individualized athletic training, group sports training programs, youth sports camps and sports team training from Wilton.
“Our talented staff is already well known for helping athletes to perform their best while avoiding injury,” said company President Bob Moore. “In our Wilton center, we’re taking our game to the next level. Athletes will enjoy an outstanding facility with state-of-the-art athletic training equipment along with comprehensive training services.”
Established in 1990, Darien-based Moore currently operates physical therapy facilities in Stamford, Darien and Fairfield. According to Bob Moore, the company’s current locations are running close to capacity. “Many of our patients and sports training clients live or work in Wilton and the surrounding area, so the location is a great fit for us,” he noted.
