Commercial & Industrial
CRE Loan Originations Fall 49 Percent as Lending Standards Tighten
By James Sanna | November 21, 2023 | ReprintsA quarterly report released by the Mortgage Bankers Association earlier this month shows that, nationwide, commercial real estate and multifamily loan originations were down 49 percent by volume year-over-year across the country during the late summer and fall.
A Resource for Lifelong Learners in Construction
By Steve Adams | Commercial Record Staff | November 16, 2023 | ReprintsFounded in 1976 to keep Connecticut’s construction industry competitive through continuing education, The Construction Institute at the University of Hartford is expanding its geographic reach under Nancy Greenwald to keep industry professionals up-to-date.
Westport Retail Property Fetches $3.9M
By James Sanna | November 16, 2023 | ReprintsA retail property along Westport’s Post Road commercial strip has changed hands for $3.9 million.
RMS Seeks OK for Next Big Hartford Development
By James Sanna | November 15, 2023 | ReprintsDeveloper Randy Salvatore is not yet done with his 1,000-unit Downtown North development in downtown Hartford – recently released from legal purgatory – and he’s already laying the groundwork for a new project.
Torrington Medical Offices Sell for $8.1M
November 15, 2023 | ReprintsA single-story medical office in Torrington fetched $8.15 million in a recent sale.
Lamont Picks Investor as DECD Head
By James Sanna | November 15, 2023 | ReprintsGov. Ned Lamont’s office announced that the state’s chief innovation officer, tech investor Daniel O’Keefe, will take over as commissioner of the Connecticut Department of Economic and Community Development.
Fannie Mae Extends Pilot Program that Boosts Credit Scores
By James Sanna | November 14, 2023 | ReprintsFannie Mae is adding another year to a pilot program that can help landlords boost tenants’ credit scores by reporting on-time rental payments, and making it free for more landlords to join.
Developer Sells 13-Acre Empty Lot Near New Haven Train Station
By James Sanna | November 14, 2023 | ReprintsA Massachusetts developer is shedding a huge parcel of land once occupied by workforce housing near downtown New Haven, and earning $21 million in the process.
Cheshire Industrial Building Sells for $1.6M
November 13, 2023 | ReprintsAn industrial building in Cheshire has sold for $1.6 million.
Nearly Half of CT Office Loans Come Due by 2026
By James Sanna | November 13, 2023 | ReprintsA new report by Yardi-owned commercial real estate data website Commercial Edge says that just under 45 percent of all commercial office debt in Connecticut is coming due by 2026.
Essex Apartments Fetch $2.1M
November 10, 2023 | ReprintsAn apartment complex in Essex has been sold by the family that built the property in the mid-1960s.
There’s Too Much Guesswork in Renting an Airbnb. The Rental Giant Is Trying to Fix That
By The Associated Press | November 8, 2023 | ReprintsAirbnb will highlight rental listings that have received top scores from guests, information that the company’s CEO says will help bring hotel-like reliability to booking a house or room on the site.
CEO of Hartford Land Bank Wins Mayor’s Office
By James Sanna | November 8, 2023 | ReprintsHartford’s new mayor will be Arunan Arulampalam, the 38-year-old CEO of the city’s Land Bank nonprofit.
112 Apartments Proposed Near Downtown New Haven
By James Sanna | November 7, 2023 | ReprintsAnother apartment building is being proposed on the edge of New Haven’s Wooster Square neighborhood, a popular destination for developers in recent years.
WeWork Seeks Bankruptcy Protection with 18M SF Still Leased in US
By The Associated Press | November 7, 2023 | ReprintsWeWork said it entered into a restructuring support agreement with the majority of its stakeholders to “drastically reduce” the company’s debt while further evaluating its commercial office lease portfolio.
Feds Dole Out $2B to Beef Up CT Commuter Trains
By James Sanna | November 6, 2023 | ReprintsTravelers on Metro-North and Hartford Line trains will be the beneficiaries of a big chunk of federal government funding aimed at fixing or upgrading key infrastructure on Connecticut’s passenger rail lines.
Report: Lamont Signals Support for Housing Reforms
November 3, 2023 | ReprintsAfter a lackluster showing for housing production reforms during this year’s legislative session, the future could be brighter next year.
NYC Developer Buys Norwalk Power Plant Island for $4.6M
By James Sanna | November 2, 2023 | ReprintsThe site of Norwalk’s now-defunct power plant that had been marketed as an “unmatched” redevelopment opportunity along Long Island Sound has been sold to a New York City developer.
Griswold Multifamily Development Fetches $30M
November 1, 2023 | ReprintsA brand-new townhouse rental community in the growing New London region has sold for $30 million.
Wealth Management Firm Expands in Darien
By Steve Adams | Commercial Record Staff | October 31, 2023 | ReprintsA wealth management firm that recently leased a new office in Darien announced plans to relocate to Baywater Properties’ Corbin District development in late 2025.