Hartford Business Journal

2 HARTFORDBUSINESS.COM | August 1, 2022 Biz Briefs CT investing $75M in low- interest loan program for small businesses, nonprofits Gov. Ned Lamont announced details of a new program that will provide low-interest loans to small businesses and nonprofits in Connecticut, particularly in low- income and historically underserved communities. The public-private partnership, Small Business Boost Fund, will begin accepting applications for loans ranging from $5,000 to $500,000. The loans have a fixed, 4.5% interest rate and are available to eligible small businesses and nonprofits in Connecticut that have 100 or fewer full-time employees and annual revenue of less than $8 million. The state is making a $75 million investment into the program. The goal is for the fund to become self- sustaining as more private funds are invested. Vendor of vintage horror, adult films buys Waterbury warehouse property A Bridgeport-based company specializing in the sales of vintage horror, grindhouse and adult films has purchased two industrial buildings in Waterbury's South End. Benedict St. Management LLC paid Dumouchel Associates LLC $700,000 for two buildings on just under an acre at 45 Benedict St. One is a 30,465-square-foot warehouse dating to 1938. The second is an Law firm Robinson+Cole to relocate downtown Hartford offices Law firm Robinson+Cole is making a major office move in downtown Hartford. The longtime Hartford employer will be moving in September 2023 out of 280 Trumbull St., where it has been based for four decades, and into the historic Hartford Steam Boiler Building at One State St. Robinson+Cole – which has more than 230 lawyers in 10 offices – will be reducing its footprint from about 120,000 square feet on six floors to 75,000 square feet on five top floors at State Street. The venerable law firm said it's taking its cues from industry trends, focusing on designing offices to support a hybrid workforce. "We're looking forward to building innovative space that will foster team-building, mentorship and collaboration, and will enhance the hybrid work model through state-of- the-art technology," said Managing Partner Rhonda Tobin. "We are also excited to offer amenities not available in our current location to help ensure a more efficient, connected, flexible, and enjoyable workday." 8,150-square-foot industrial building completed in 1940. The property is home to Dumouchel Paper Co., a paper products and janitorial products supplier that traces its lineage back to Hotchkiss Paper, a company that made its first deliveries by horse- pulled wagon in 1881. The buyer's principal is Bridgeport-based Vinegar Syndrome Direct LLC. The company sells an archive of restored and out-of-print grindhouse and low-budget movies, primarily produced between the 1960s and 1980s. Arrha Credit Union opens new Enfield branch Springfield, Mass.-based Arrha Credit Union is opening a new branch at 231 Hazard Ave. in Enfield, the company announced. Rockville Bank was previously located in the building. Arrha is part of a cross-border incursion of credit unions, as smaller lenders see growth opportunities from large bank mergers. Freedom Credit Union, also based in Springfield, is opening a branch in Enfield, at 115 Elm St. Glastonbury approves plan to build 74-unit apartment building The Glastonbury Town Plan & Zoning Commission has finalized a developer's proposal to build a 74- unit apartment building that could be occupied in early 2024. Developer Richard Hayes, principal of Manchester/Hebron Avenue LLC, will build the multifamily units. The property, on Manchester Road and Hebron Avenue, is across the street from Buckingham Park. The complex will be known as Buckingham Corners. Hinckley Allen partner Timothy Hollister and associate Andrea Gomes represent Hayes. Hollister previously told the Hartford Business Journal that, if all goes as planned, construction could start in the fall and would take about 18 months. Hollister also said that 70% of the units will be market rate, while the other 30% will be for moderate- income households. Nassau Financial Group's CFO dies at 37 Colleagues are mourning Nassau Financial Group CFO Diana Piquette after her death July 18 at the age of 37. Piquette, of Farmington, was known for her intelligence, dedication and trustworthiness, according to Phil Gass, chairman and CEO of Hartford-based Nassau Financial. In 2021, she was a Hartford Business Journal "40 under Forty" honoree. "Diana played a key role in driving Nassau's success over the past several years, with her brilliant mind, strong work ethic and talent for managing complex initiatives," Gass said. "Above all, Diana was a trusted adviser and good friend to her colleagues across the company." Piquette joined the company in 2014 and worked in several management roles including controller, chief accounting officer, and head of strategic and financial planning. After being named CFO, her responsibilities expanded to include global finance and actuarial functions. Piquette graduated from Avon High School and received her bachelor's and master's degrees in accounting from UConn. She worked as an audit manager at Deloitte after graduating, earning her CPA. Three office buildings in East Hartford's Founders Plaza sell for $50M The Fremont Group recently sold three office buildings and two parking lots in East Hartford's Founder Plaza Business Park for $50 million. The properties were sold to Milton East Hartford Investments LLC in deeds recorded July 14. The White Plains-based company's principal is Mark Graham, of Scarsdale, New York, state records show. The sales include Riverview Square, a two-tower, 325,000-square-foot class 45 Benedict St., Waterbury. PHOTO | COSTAR Arrha Credit Union's new branch in Enfield. PHOTO | CONTRIBUTED Hartford Steam Boiler Building at One State St. PHOTO | COSTAR Rhonda Tobin Diana Piquette Riverview Square in East Hartford. PHOTO | CONTRIBUTED

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