NewHavenBIZ

28 n e w h a v e n B I Z | S e p t e m b e r 2 0 2 1 | n e w h a v e n b i z . c o m W h a t ' s T h e D e a l ? By Greg Bordonaro Athletic Brewing's Milford expansion driven by rapid growth The Whalley Commons Property Address City Property Type Sale Price Building SF Year Built Sale Date What's Sold 100 Barnes Rd Wallingford Office $1,760,000 44,400 1978 7/8/2021 1177 New Haven Rd Naugatuck Retail $750,000 6,048 2014 7/8/2021 267 Center St West Haven Office $230,000 3,232 1949 7/9/2021 100 Barnes Rd Wallingford Office $1,760,000 44,400 1978 7/8/2021 240 Depot Rd Milford Industrial $1,325,000 19,714 1987 7/8/2021 3584 E Main St Waterbury Office $1,000,000 29,776 7/8/2021 1177 New Haven Rd Naugatuck Retail $750,000 6,048 2014 7/8/2021 267 Center St West Haven Office $230,000 3,232 1949 7/9/2021 Here's a list of recent New Haven commercial properties that have sold. (Order based on sales date) S tratford-based Athletic Brewing, which bills itself as the nation's first non-alco- holic cra brewery, produced 40,000 barrels in 2020. is year it surpassed that production level in May. To say the company's products are in demand might be an understatement. Now it's embarking on a major growth plan in Connecticut. Athletic Brewing recently signed a lease to occupy a 150,000-square-foot Milford property at 75 Cascade Blvd. e building was recently purchased for $14.9 million by 75 Cascade LLC, which is controlled by Donald B. Smith Jr. of New Oxford, Penn. Athletic Brewing does not own the property. Company co-owner Bill Shufelt said in an interview the new location will serve as a large production facility so Athletic Brew- ing can ramp-up capacity and keep pace with growing consumer demand for its non-alcoholic beer brands like Run Wild, Upside Dawn and Free Wave. "We are building an expansion brewery to meet our future growth needs," said Shufelt, adding that Athletic has been the fastest-growing brewery in the country for the last few years. at rapid growth has led to new major investments. In early 2020, for example, Athletic Brewing announced it had pur- chased a brewery in San Diego, Calif. It also recently raised $50 million from investors. Athletic Brewing established its first 10,000-square-foot brewery in 2017 in Stratford and plans to maintain that loca- tion as its headquarters, Shufelt said. e Milford property will mostly involve a manufacturing build-out, including installation of top-of-the-line brewing equipment and high-speed canning lines. "Most of the build-out is more on the mechanical and equipment side than it is on the actual construction," said Shufelt, who declined to disclose how much is being invested into the new facility. e Milford location, which will also feature a future taproom, will employ about 100 people within a few years aer it opens; build-out has already begun and the prop- erty is expected to debut sometime in 2022. e company, which has 150 employees nationwide, will be hiring a number of new positions, from sales and marketing professionals to skilled brewers and lab technicians and people with fulfillment, packaging and warehouse experience. Athletic Brewing's omnichannel e-com- merce and shipping network has allowed it to sell nationwide, which has helped increase revenue by more than 500% each of the past two years. Its beer is sold in 35 states, including in every Whole Foods, Trader Joe's and Total Wine in Connecticut. New Haven retail strip mall sells for $5.75M e Whalley Commons shopping plaza in New Haven has sold for $5.75 million, city records show. e 36,505-square-foot property at 1475 Whalley Ave., sold in early August, records show. e buyer was SK Property LLC, which is controlled by Bridgeport-based ortho- dontist Shyam Desai. Desai took out a $3.7 million mortgage with Massachusetts-based Avidia Bank to fi- nance the purchase, city land records show. e seller was Georgia-based ACL Realty Corp. e property was originally listed for sale at $6.7 million and sits on 6.44 acres, according to CoStar. e occupancy rate is around 83% with tenants that include Wal- greens, Yale New Haven Hospital, Hartford HealthCare, Subway, Bank of America, AT&T and United States Postal Service. Marcus & Millichap was the listing broker. Orange Town Center retail plaza sells for $3.95M e Orange Town Center retail plaza in Orange has sold for $3.95 million, town records show. e 62,177-square-foot property at 109 Boston Post Road sold in July. e buyer was 109 Boston Post Road LLC, which is controlled by Gina and Sam Stevens. e seller was CKS Realty LLC, which is controlled by Seeram James, records show. James originally bought the property in Aug. 2019 for $3.25 million, property records show. e plaza was built in 1990, renovated in 2008 and sits on 8.2 acres. Tenants include Munson's Chocolates, DOCS Urgent Care and Medi-Weightloss. Perkins law firm to open Elm City office A well-known Connecticut personal injury law firm is expanding by adding a new office in New Haven. Jonathan Perkins Injury Lawyers plans to open its sixth law office in the state on Sept. 13. It will be downtown, at 786 Chapel St., in a space on the second floor, within walking distance of the New Haven-based state and federal courthouses. e firm currently has offices in Hartford, Bridgeport, Woodbridge, New London and Waterbury. e move marks a continued expansion for the practice in recent years, as it opened its New London location in 2018. Eyewear chain Warby Parker leases historic Yale-area storefront Upscale eyewear retailer Warby Parker has leased a historic building near the Yale campus and will open a store later this year, university officials said. A century-old brick structure at 268 York St. at the corner of Broadway will house the new store, the chain's fourth in the state. It also has locations in Farmington, Norwalk and Greenwich. Gourmet coffee, craft beer taproom coming to Wallingford A three-year-old cra coffee company will be launching its first brick-and-mortar location in Wallingford. Yellow King Brews recently signed a three-year lease for a 2,995-square-foot space at 920 South Colony Road. Rob Vitale and Shama Khan are co-own- ers of the Bridgeport-based business. ey plan to open a gourmet coffee and cra beer taproom in the Wallingford space. "We have been in the coffee business for three years as a vendor," Vitale said. "We had hoped to make this move [to brick-and-mortar] last year, but it was delayed due to COVID." Renovations are currently ongoing, but Vitale said he anticipates the Wallingford lo- cation to be open by December or January. "Cold brew coffee is our specialty, and we will also have a coffee shop and a cra beer taproom," Vitale said. "It will be a place for people to hang out." n 109 Boston Post Road Bill Shufelt (left) and John Walker are the owners of Stratford- based Athletic Brewing Co. 268 York Street

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