Hartford Business Journal

3 HARTFORDBUSINESS.COM | May 23, 2022 BIZ BRIEFS Hartford solar company Verogy receives investment from CarVal Investors Hartford-based solar developer Verogy's leadership team (from left to right): CEO William Herchel, COO Steve DeNino and Director of Development Bryan Fitzgerald. HBJ PHOTO | STEVE LASCHEVER Hartford-based solar energy developer Verogy said it has received an outside investment that will help the company develop another 500 megawatts of new projects. As part of the deal, Verogy said it has sold a minority stake to CarVal Investors, a Minneapolis- based global alternative investment manager that has about $14 billion in assets under management, the company said. Deal terms, including the size of the investment, were not disclosed. According to Verogy, the recent investment gives the firm enough capital to develop 500 megawatts of new solar projects. Amid office market slump, 3 tenants renew leases at downtown Hartford's 100 Pearl St. tower Hartford HealthCare offices at 100 Pearl St. in Hartford. PHOTO | COSTARt New York-based Shelbourne Global Solutions, downtown Expert guidance from experienced business minds. rtrivella@centrevillebank.com 860.928.6501 x3072 EQUAL HOUSING LENDER | NMLS#402947 | MEMBER FDIC Robert Trivella Senior Vice President Senior Commercial Loan Officer Centreville-38222 Revised ad_HBJ_10x325_Robert Trivella.indd 1 Centreville-38222 Revised ad_HBJ_10x325_Robert Trivella.indd 1 11/9/21 1:39 PM 11/9/21 1:39 PM Hartford's largest commercial landlord, announced that three tenants at its 100 Pearl St. office tower renewed their leases to remain in the city. Coworking facility operator Regus has agreed to a seven-year lease renewal of its 15,000-square-foot office location. Middletown-based Liberty Bank has expanded and extended its occupancy by more than doubling in size to 6,690 square feet, Shelbourne said. Law firm Brown Paindiris & Scott has relocated and expanded in the building to occupy 4,572 square feet, Shelbourne said. 100 Pearl Street is a 281,000-square-foot office building that Shelbourne purchased in 2015 for $36.9 million. The 17-story Class A office tower is anchored by Hartford HealthCare, which is relocating its headquarters in the building and currently occupies 110,000 square feet. Former bankers, others look to launch new CT community bank Organizers are trying to launch a new commercial bank in Fairfield County, a move being driven by the significant consolidation wave in the banking industry, officials said. If successful, the New Canaan Bank would be the first startup commercial bank in Connecticut in over a decade, when Start Community Bank launched in New Haven in 2010. (Start changed its name to New Haven Bank in 2019.) Organizers of New Canaan Bank include former bank and investment executives, a real estate developer and doctor, among others. They submitted an application in December to the Connecticut Department of Banking to launch a de novo bank that would provide personal and commercial banking products and services. If it gains regulatory approval, the bank plans to have its headquarters at 208 Elm St., in downtown New Canaan. Former Briarwood College campus in Southington up for sale again Former Briarwood College campus property in Southington, at 2279 Mount Vernon Road. PHOTO | COSTAR Just a year after it was last sold for $3.5 million, the former Briarwood College campus property in Southington is up for sale for almost double that price. The 32-acre Southington campus of the former Lincoln College of New England, once known as Briarwood College, is for sale for $6.9 million, according to a listing. The property is located at 2279 Mount Vernon Road. The property has seven buildings, mostly built between 1967 and 2008 to serve as classroom space. One building, put up in 2004, is listed as an apartment building. Lincoln College of New England moved out of the property in 2018 and shut down in 2019. Last May, PGX Holdings purchased the property for $3.5 million from Briarwood Real Estate Limited, with plans to attract an education-related tenant, but nothing materialized. Northland puts second downtown Hartford office building up for sale Northland, once downtown Hartford's most prominent landlord, has put its second center-city office building up for sale. The Massachusetts-based real estate investor and developer has listed its 304,413-square-foot mid-rise office/retail complex at 242 Trumbull St. for sale at an undisclosed price. The property at the intersection of Trumbull, Pratt and Main streets includes an eight-story building fronting Trumbull Street, and a series of interconnected retail storefronts lining Pratt Street, with a six-story office annex above. CBRE is the listing agent for the property, which has significant office space vacancies and is being marketed as a potential opportunity for a "prime residential conversion." Floors three through eight in the building are largely vacant, according to the listing, and 83% of the retail and second floor office spaces are leased to tenants that include MCI Verizon, Amenta Emma Architects and A/Z Corp. This is the second mixed-use office building Northland has put up for sale over the past month. In April, Northland listed for sale its historic property at 100 Allyn St., also for an undisclosed price. That property has a much higher office occupancy rate than 242 Trumbull St. Retail cannabis facility submits permit application in Manchester The Manchester Planning and Zoning Commission has recently received an application requesting a special exception for a recreational cannabis retail facility at 101 Hale Road. The application is the first of its kind to be submitted to a town in north-central Connecticut. It was submitted on behalf of a Hartford- based company that owns Fine Fettle Dispensary. The dispensary would be located in a 20,550-square-foot retail building with nearby tenants that include Petco, FASTSIGNS, and Leslie's Pool Supplies.. Fine Fettle Dispensary has five locations throughout Massachusetts and Connecticut. All three Connecticut stores — in Newington, Stamford and Willimantic — are medical dispensaries with plans to convert to hybrid adult-use establishments. Austin Mirmina | Journal Inquirer

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