100 South Shore Drive, East Haven
Netkey Inc., a maker of kiosk software, has moved its headquarters to Mariner’s Point at 100 South Shore Drive in East Haven. The company signed a long-term lease for approximately 15,000 square feet.
Steven Inglese of New Haven Group represented the owner, while Robert Motley and Kevin Foley of Cushman & Wakefield represented the tenant.
The move will allow Netkey, formerly located in Branford, to expand its operations. The company’s operations at the East Haven location will consist of executive offices, software development, support services and marketing and sales.
The building is a Class A office property that has undergone significant improvements to its common areas under new building ownership. There are 12,000 square feet available for lease that can be subdivided for smaller users.
New Haven Group is a commercial real estate service firm focused on the sale and leasing of income-producing property and development sites throughout the state.
Land-Trusts Law OK’d
Governor M. Jodi Rell has signed a bill to give towns the option of giving property tax abatements to land trusts. Land trusts are private, nonprofit organizations dedicated to saving open-space land.
“This bill gives municipalities the authority, if they choose it, to address a problem which is affecting the ability of our local community land trusts to preserve lands,” Rell said.
Land trusts are required to pay the property taxes for whatever remains of the first tax year in which they obtain ownership of land. Their tax exemption starts at the beginning of the next tax year if they file the correct papers. Many towns, recognizing the value of land trusts’ work in protecting important natural and agricultural lands, desire to give the land trusts an immediate tax abatement or exemption starting from the date of ownership.
“Most of the land that these trusts protect is land that has been donated,” Rell said. “It can frequently take a number of years before a donation can be completed. The imposition of property taxes serves to make the donation process even more complicated and a lot less attractive to land donors. This new law will help to relieve that serious tax burden while promoting preservation at the same time.”
The new law is effective immediately.
Mesenbourg Joins CBC-Scalzo
Rhonda Mesenbourg has joined Coldwell Banker Commercial-Scalzo Group as an account executive.
A longtime Connecticut resident, Mesenbourg has a diverse background in marketing, public relations and retail management. She previously was an information technology professional with Bristol-Myers Squibb and vice president of The Yellow House Production Co.
Coldwell Banker Commercial is a registered trademark licensed to Coldwell Banker Real Estate Corp. The company has independently owned and operated affiliate real estate offices in more than 325 markets throughout the world and leads the industry in providing commercial real estate solutions and the management of commercial real estate property.
Athena Buys N.C. Property
Danbury-based Athena Real Estate has acquired Cedar Park Estates, a 160-site manufactured housing community located in Harrisburg, N.C., for $2.8 million.
Athena Real Estate is an investment and advisory firm focused on specialty niches, including manufactured housing communities, RV parks and self-storage facilities. The acquisition is Athena’s first Charlotte, N.C.-area investment and was completed through a recently formed multi-property joint venture with a large institutional investor.
“We specifically targeted the Charlotte market because of the area’s strong demographic and economic trends,” said Richard J. O’Brien, chief executive officer and founder of Athena Real Estate.
Athena is seeking additional acquisitions of manufactured housing communities, RV parks and self-storage facilities along the East Coast.
