Hartford Business Journal

HARTFORDBUSINESS.COM | July 4, 2022 3 Editorial Greg Bordonaro | Editor, ext. 139 gbordonaro@hartfordbusiness.com Drew Larson | Web Editor, ext. 121 alarson@hartfordbusiness.com Michael Puffer | Staff Writer, ext. 145 mpuffer@hartfordbusiness.com Beats: Real Estate, Economic Development, Banking & Finance Robert Storace | Staff Writer, ext. 127 rstorace@hartfordbusiness.com Beats: Health Care, Higher Education, Arts & Culture Skyler Frazer | Staff Writer, ext. 145 sfrazer@hartfordbusiness.com Beats: Manufacturing, Cannabis, Technology, Transportation Tim Doyle | Lead Researcher Heide Martin | Research Assistant Steve Laschever | Photographer Business Tom Curtin | Publisher, ext. 124, tcurtin@hartfordbusiness.com David Hartley | Senior Accounts Manager, ext. 130, dhartley@HartfordBusiness.com Daniel Schilke | Senior Accounts Manager, ext. 135, dschilke@HartfordBusiness.com Emily Paskind | Senior Accounts Manager, ext. 133, epaskind@hartfordbusiness.com Valerie Clark | Director of Audience Development, ext. 332 vclark@nebusinessmedia.com Jill Coran | Human Resources Manager jcoran@nebusinessmedia.com Megan Mason | Events Manager, mmason@hartfordbusiness.com Production Bartosz Zinowko | Production Director, ext. 147 bzinowko@hartfordbusiness.com Peter Stanton | CEO, pstanton@nebusinessmedia.com Tom Curtin | President, ext. 124, tcurtin@hartfordbusiness.com Mary Rogers | COO/CFO, mrogers@nebusinessmedia.com Subscriptions Annual subscriptions are $110.00. To subscribe, visit HartfordBusiness.com, email hartfordbusiness@cambey- west.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-Hart- ford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend: www.hartfordbusiness.com/enewsletters 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. Periodicals postage paid at Hartford, CT and at additional entry points. 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 BIZ BRIEFS Hopgood steps down after decade helming Capital Region Development Authority board Suzanne Hopgood has stepped down as chair of the Capital Region Development Authority Board of Directors, following a decade helping to lead one of the most impactful economic development agencies in the state. Hopgood, a high-tier business consultant, was named chair of the newly created CRDA in 2012. The quasi-public agency has since incentivized the construction of more than 2,500 apartments, created the Front Street Entertainment District and scored many other economic development wins. It has also managed and worked to maximize the impact of the Connecticut Convention Center, XL Center and Pratt & Whitney Stadium. Hartford HealthCare, MIT professor launch startup aimed at reducing hospital stays Hartford HealthCare announced that it has partnered with an MIT professor to launch a new company aimed at reducing patient hospital stays and improving emergency department backups through data analytics. The company, called H20, is being created with Massachusetts Institute of Technology (MIT) applied mathematician Dimitris Bertsimas, who is board chairman and managing member. Bertsimas said the Waltham, Massachusetts-based company will go to market before the end of 2022. It will use data analytics to determine the length of stay and predict outcomes in hospital settings. Barry Stein, HHCs vice president and chief clinical innovation officer, said Bertsimas will use patient imaging lab information, laboratory notes and other data to "develop algorithms to predict" patient outcomes. The goal is to pinpoint how long patients need to stay in a hospital setting in an effort to provide better quality care and help them plan for care needed outside the hospital, Stein said. Shelbourne doubles 2016 investment in Newington industrial property with $45M sale New York-based real estate developer and investor Lightstone has paid $45 million for a 622,262-square-foot industrial building and two vacant parcels in Newington. Shelbourne Newington LLC — an investment vehicle of New York-based real estate investment and development firm Shelbourne — sold its majority stake in the properties at 301, 311 and 353- 407 Alumni Road to 475 Willard Associates LLC, in a sale dated May 26 and recorded by the town on June 20. Together, the three parcels have a combined 70.6 acres of industrially- zoned land. The industrial building was completed in 1956, according to town records. Shelbourne bought the properties for $22.4 million in 2016, according to land records. East Hartford eases restrictions for food truck operators More food trucks could be coming to the town of East Hartford. The town announced it has made changes to local ordinances and regulations that streamline the application process for food truck owners and provide the opportunity for greater access to food trucks for local businesses. Food trucks licensed by the East Hartford Department of Health are now allowed to operate on designated streets located within the town's business districts, allowing organizers to schedule food trucks during events held at town parks and buildings, and businesses to contract with food trucks for events conducted on their property. Liberty Bank introduces new, faster ATMs across state Middletown-based Liberty Bank said it has replaced all of its ATMs with new faster, more reliable machines. A withdrawal transaction is now quicker by 20 or 30 seconds, the bank said. Further, customers can now choose their denominations when withdrawing cash, like whether they want 50, 20 or 10 dollar bills. The new Liberty ATMs also have a "card before cash" feature to ensure customers take their card out of the machines before cash is dispensed to reduce the amount of people who leave their card in the ATM after a transaction. Liberty Bank partnered with Cardtronics, a managed service provider, for the upgraded ATMs, the bank said. The bank didn't disclose how much was invested in the conversions. A total of 63 ATMs were upgraded. Fully leased shopping plaza across from Westfarms mall sells for $26.4M A 96,691-square-foot commercial property at the West Hartford- Farmington line across from Westfarms mall has sold for $26.4 million, real estate investment firm CBRE announced. The buyer, Agree Realty, owns commercial properties across the country, including plazas anchored by Walmart, Aldi and Best Buy. Its Connecticut holdings include properties with Autozone stores in Orange and Danbury, and a property with an AAMCO auto repair shop in Orange. The shopping plaza, called Newington Westfarms Center, is fully leased and houses Dick's Sporting Goods and Ulta Beauty on a square-shaped parcel facing New Britain Avenue. Dick's and Ulta signed new long-term leases in 2020. Ultra Beauty replaced Babies R Us in 2019. Suzanne Hopgood HBJ FILE PHOTO Hartford HealthCare President and CEO Jeffrey Flaks (left) takes part in a signing agreement with MIT mathematician Dimitris Bertsimas. PHOTO | CONTRIBUTED The industrial warehouse properties at 301, 311 and 353-407 Alumni Road in Newington. PHOTO | COSTAR Newington Westfarms Center at the Farmington/West Hartford line. PHOTO | CONTRIBUTED

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