Hartford Business Journal

4 Hartford Business Journal • May 13, 2019 • www.HartfordBusiness.com Week in Review Briefs Virginia manufacturer acquires Suffield's Arcor Laser A Virginia-based contract manufacturer and products supplier for medical device, life sciences, automotive and defense companies, has expanded its Northeast presence with the acquisition of Suffield's Arcor Laser Services LLC. Cadence Inc., which also has locations in Rhode Island and Pennsylvania, recently announced it acquired Arcor for an unspecified sum. Arcor, specializing in advanced laser welding, laser cutting, marking and micro-drilling services, has expanded its operations twice in the past six years. Last spring, the laser-services operation began leasing an additional 24,000-square-foot facility near its more than 12,000-square-foot Kenny Roberts Memorial Drive headquarters in Suffield, and set plans to add about 10 new workers to its 90-person payroll. Originally based in Windsor, Arcor relocated to Suffield in 2013. Manchester OKs 43- unit development for contractors Manchester's Planning and Zoning Commission has approved a developer's plan to build storage and business operation space for small manufacturers and contractors. The zoning commission unanimously approved a special exception for the 43,000-square-foot development planned on Sanrico Drive, as well as other permits for the developer, Sanrico Associates LLC. According to plans, the developer will build three separate buildings housing 43 bays intended for businesses in the building and maintenance trades at 58 Sanrico Dr. The 5.2-acre site is the last undeveloped plot in the industrial area, town records show. The units will each comprise 1,000 square feet with an overhead door and will be suited for home-improvement contractors, carpenters, electricians, plumbers, roofers, painters, woodworkers and graphic artists. The units could also be used for storage, the application said. Simsbury solar site sold for $7.7M Approximately 280 acres of Simsbury farmland has been sold for $7.7 million to house a solar farm, the seller says. Simsbury town clerk records listed Griffin Industrial Realty Inc.'s River Bend Development CT LLC affiliate as seller of the undeveloped tract located off Hoskins Road, north of downtown Simsbury, to Desri TVS Real Estate Holdings LLC in New York City. According to The Hartford Courant, the Simsbury site has won support from energy agencies in Massachusetts and Rhode Island for the solar facility that Rhode Island's Deepwater Wind wants to build despite the objection of Connecticut energy authorities. Avon Village Marketplace resold at $7.6M For the second time in six years, Avon Village Marketplace has a new owner — one who recently paid $7.6 million for the local retail landmark. Avon Village Marketplace LLC acquired in April the 17-building complex with 59,172 square feet of commercial/retail/ office space at 1-45 E. Main St., at the corner of Route 44 and Route 10, from Avon Village Associates LLC, according to sole broker Reno Properties Group LLC. The new owner plans to maintain the property, according to Reno Properties. The seller acquired the more than 7-acre property, formerly called Old Avon Village, in 2013 from decades-long owners, the August family. CT lawmakers approve hemp pilot program The state House of Representatives unanimously approved a bill that will create a pilot program authorizing the production and sale of industrial hemp. After the May 8 vote, Gov. Ned Lamont said he will sign the hemp bill into law. The state Senate unanimously approved the bill last month. Hemp is a type of cannabis plant that produces a non-intoxicating substance known as cannabidiol or CBD. It can be used for pain relief and to treat anxiety, depression, insomnia, acne and diseases like diabetes or multiple sclerosis, among other uses. According to the bill, S.B. 893, the state Department of Agriculture will establish and operate a pilot program that will allow Connecticut farmers to tap into the booming commercial-hemp business, which is projected to grow into a $20-billion industry by 2020. TOP STORY New food market for downtown Hartford D owntown Hartford is getting another food market. New York office- space landlord Adam J. Stark says his 750 Main St. office tower, The Stark Building, will house later this summer a 15,000-square-foot Hartford Food Market. Stark did not say who will operate the market to be housed in the tower's street-level space that was once a CVS pharmacy store. It will join The Greenway Market and New York Market & Deli, both on Asylum Street, purveying fresh and packaged foods to a growing number of downtown residents and workers. Stark acquired the 17-story, century- old former Hartford National Bank headquarters in 2017 for $4.5 million and spent more than $1 million refurbishing its interior spaces and mechanical and electrical systems. Most of the building's 102 office suites are occupied, he said. Current tenants include legal, financial and professional services firms, technology companies, along with several other noteworthy professional companies, including Crosskey Architects and The Connecticut Forum. BY THE NUMBERS 5.3% The percentage of jobs in Connecti- cut supported by the state's tourism industry, according to a new report by Tourism Economics. $960M The total state and local taxes generated by the tourism industry in 2017, accord- ing to the Tourism Economics report. 11 The number of blighted Hartford proper- ties that recently sold during an auction, which raised more than $770,000 in delinquent tax revenues for the city, ac- cording to the Hartford Courant. $900K The amount a road-building industry lob- bying group is spending in an advertising campaign to endorse highway tolls. TOP 5 MOST READ On HartfordBusiness.com • 1. New food market for downtown Hartford • 2. Avon Village Marketplace resold at $7.6M • 3. CT tourism industry touts $15.5B impact; state website drops 'Still Revolutionary' tagline • 4. Phil Mickelson commits to 2019 Travelers Championship • 5. Planet Fitness is moving into old Toys 'R' Us and Sears stores STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/ subscribe Weekly e-newsletters: CT Health Care Weekly www.HartfordBusiness.com/ subscribe The Stark Building at 750 Main St. PHOTO | HBJ FILE

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