Hartford Business Journal

February 8, 2021

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2 Hartford Business Journal | February 8, 2021 | HartfordBusiness.com A current member of AVM's board of directors, Cox will assume the top job as part of a new leadership team at the startup, which is developing drugs to treat Non-Hodgkin's lymphoma. As president and CEO of Meriden- based Protein Sciences, Cox helped broker the company's $750 million sale to Sanofi in 2017. She left the company in Jan. 2018. Cox joined Protein Sciences in 1998 as director of business development and helped the company launch FluBlok, the first recombinant influenza vaccine on the market. Foodshare, CT Food Bank merger approved The merger between Connecticut's two largest food banks has moved forward. The boards of directors of Foodshare and the Connecticut Food Bank recently approved their combination, which went into effect Jan. 30. The new organization will be governed by a 23-member board of directors made up of members of the outgoing Foodshare and Connecticut Food Bank boards. The food banks will continue to operate out of their Wallingford, Bloomfield and Bridgeport facilities and use their existing names until a new name is chosen, the nonprofits said. The combined organization, which has an annual budget of about $110 million and employs 115 people, is being led by Foodshare CEO and President Jason Jakubowski. CT median home prices hit record high The median price of single- family homes sold in Connecticut last year reached a new record, as sales volume in 2020 also jumped by double digits, according to the real estate data tracker and publisher The Warren Group. Connecticut's 2020 median sales price was $300,000, up by more than 15% from 2019, while single-family home sales rose nearly 17%, reaching 38,641. Despite a second-quarter slump related to the COVID-19 pandemic, sales surged in the latter half of the year, tallying 24,984 for those six months alone. "The local real estate market stumbled during the second quarter as the reality of the situation surrounding COVID-19 started to set in," Warren Group CEO Timothy Warren said. "However, this didn't have any long-term negative impacts on the market. Instead, the historically hot spring real estate market was just delayed until the third quarter. Once July and August rolled around, things went gangbusters." Condominium activity also increased last year, notching 9,167 sales, up slightly from 2019 but the highest volume on record since 2007. The median sales price increased by 12%, reaching $187,000 — a decade high, according to Warren Group. Hartford apartment portfolio sells for $1.3M A Hartford apartment portfolio containing 28 rental units in the city's Frog Hollow and Clay Arsenal neighborhoods has sold for $1.3 million, according to city records and CoStar. The three apartment properties included in the deal were: • 315 Bellevue St. (six units; sold for $254,261; built in 1900; 5,940 square feet) • 108 Ward St. (six units; sold for $227,504; built in 1901; 7,024 square feet) • 258 Lawrence St. (16 units; sold for $803,235, built in 1910; 22,459 square feet) The buyer was New York-based Sloan Square Properties LLC, which is controlled by Dorothy Burton. The seller was Amber Properties LLC out of California. $10M, 122-room extended- stay hotel slated for Newington Newington's planning and zoning commission has greenlit a $10 million proposal to build a four- story, 122-room extended-stay hotel on Cedar Street, near Central Connecticut State University. The proposed hotel at 712 Cedar St. would be adjacent to Starbucks and the former National Welding site, and just across Route 9 from CCSU. It's also on the CTfastrak bus line. The project's developer is Manchester-based Hayes-Kaufman Developers, which requested a 10-year, 40% tax abatement fromn the town that is key to the project securing financing. The hotel, which still requires additional permitting, would create up to 250 construction jobs and 15 permanent jobs, officials said. Former Protein Sciences CEO Cox takes top job at Seattle biotech Former Connecticut biotech executive Manon Cox will take the post of CEO at Seattle's AVM Biotechnology. SUBSCRIPTIONS Annual subscriptions are $96.00. To subscribe, visit HartfordBusiness.com, email hartfordbusiness@cambeywest. com, or call (845) 267-3008. ADVERTISING For advertising information, please call (860) 236-9998.Please address all correspondence to: Hartford Business Journal, 100 Allyn Street, Suite 3, Hartford, CT 06103 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/enewsletters Tel: (860) 236-9998 Fax (860) 570-2493 Copyright 2020. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O. Box 330 Congers, NY 10920-9894 HartfordBusiness.com (860) 236-9998 Hartford Business Journal (ISSN 1083-5245) is published bi-weekly, 27x per year — including two special issues in November and December — by New England Business Media, LLC, 100 Allyn Street, Suite 3, Hartford, CT 06103. 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Peter Stanton | CEO, pstanton@nebusinessmedia.com Tom Curtin | President, ext. 124, tcurtin@hartfordbusiness.com Mary Rogers | COO/CFO, mrogers@nebusinessmedia.com EDITORIAL Greg Bordonaro | Editor, ext. 139, gbordonaro@hartfordbusiness.com Matt Pilon | News Editor, ext. 143, mpilon@hartfordbusiness.com Beats: Real Estate/Economic Development, Energy, Startups & Entrepreneurs, Banking & Finance, and Government Liese Klein | Web Editor, ext. 127, lklein@hartfordbusiness.com Beats: Health Care and Bioscience Sean Teehan | Staff Writer, ext. 145, steehan@hartfordbusiness.com Beats: Manufacturing, Law, Technology, Higher Education, and Transportation Tim Doyle | Lead Researcher Heide Martin | Research Assistant Steve Laschever | Photographer BUSINESS Tom Curtin | Publisher, ext. 124, tcurtin@hartfordbusiness.com Christina Zuraw | Events Coordinator, ext. 134, czuraw@hartfordbusiness.com David Hartley | Senior Accounts Manager, ext. 130, dhartley@HartfordBusiness.com Zac Macinnes | Senior Accounts Manager, ext. 133, zmacinnes@HartfordBusiness.com Daniel Schilke | Senior Accounts Manager, ext. 135, dschilke@HartfordBusiness.com Valerie Clark | Director of Audience Development, ext. 332 Jill Coran | Human Resources Manager Megan Mason | Operations Assistant, mmason@hartfordbusiness.com PRODUCTION Christie Novotny | Production Director, cnovotny@hartfordbusiness.com Joe Zwiebel | Founding Publisher Biz Briefs Raytheon markets 300 acres near Rentschler Field as potential logistics hub www.copyright.com A 300-acre plot of land adjacent to Rentschler Field and Pratt & Whitney's East Hartford headquarters is on the market as a potential logistics hub space. CBRE announced that Pratt parent Raytheon Technologies Corp. has retained it to advise on selling the land, which consists mainly of a former airfield as well as outdoor retailer Cabela's ground lease interest. There's no asking price listed. It's the same site where a developer previously pursued construction of a $105 million, 70-store shopping outlet center for about five years before abandoning the project in 2018. CBRE is billing the property as the largest and most convenient development site available between New York and Boston, able to accommodate 2.3 million square feet. In the age of COVID-19, ownership this time around appears to have settled on marketing the property for distribution purposes, rather than for retail, which has taken a major hit during the pandemic. Raytheon Technologies Corp. is marketing this 300 acre site in East Hartford, near Pratt & Whitney's headquarters, as distribution space. PHOTO | CONTRIBUTED Former Protein Sciences CEO Manon Cox is now leading a Seattle biotech company. PHOTO | HBJ FILE Jason Jakubowski at Foodshare's Bloomfield headquarters. PHOTO | HBJ FILE

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