Hartford Business Journal

HARTFORDBUSINESS.COM | August 15, 2022 7 DEAL WATCH tually build about 100 units. Batista said he hopes to complete the first 31 apartments by the end of this year. Supply chain problems have delayed projects and made them more expensive, Batista said, but it seems to be unclogging. Materials are still expensive, but at least they are available. Batista is also eager to see big downtown employers return staff to their offices. That, along with an influx of new residents, will inject vitality into the downtown retail scene, he said. Batista is also encouraged by Waterbury's recent announcement of a $1.5 million grant program to help outfit downtown spaces for new retail businesses. It's a similar program being used by the city of Hartford. "There was some really good momentum before COVID," Batista said. "Once everybody gets fully staffed downtown, that will help a lot." Meantime, the former Grand Street Webster Bank executive offices purchased by the Mari- olis family will remain as office space. Brian Godin, a principal with Godin Property Brokers, said a nonprofit is close to signing a 5,200-square-foot lease in the building's top floor. Godin said the property was well maintained by Webster, but after nearly a year on the market, the bank was simply ready to unload it. Michael Grieder, an agent with Godin Property Brokers who was also involved in the Grand Street transaction, touted signs of increased activity in Waterbury's downtown. In January 2021, Godin Property Brokers helped sell a 20,160-square- foot office building at 228 Meadow St. The property is located on a corner of the downtown, right next to an Interstate 84 exit. Grieder said a Bridgeport restaurateur is strongly considering launching an eatery in the former Crossroads Cantina building, a shuttered property right next to 228 Meadow St. Mariolis said he believes Water- bury is approaching a turning point, aided by broader trends such as the statewide housing shortage and increasing interest in urban living. "I think Waterbury is definitely a hidden gem at the moment," Mariolis said. "Personally, I think it's a gem that's ready to clean up big. I see it as an area that in the next five years will be unrecognizable." from Post University and Webster Bank, who have still not returned in full strength. "I'm really working to try and convince Post to bring their people back and Webster to bring their people back as well," O'Leary said. Other positive developments O'Leary said there are other positive signs. Enrollment at the downtown UConn branch campus is up. A recently developed and privately run college dormitory close to the UConn branch is near its roughly 90-student capacity. And other developers are advancing projects. Local investors Michael Batista and Alexander Alicki expect to complete construction of 10 apartments at 77 Bank St. before September, and another 29 at the historic Farrington Building at the corner of West Main and Church streets by the end of the year. The partners are also working to build 25 apartments in a 16,980-square-foot building at 105 Bank St. by mid-2023, Batista said in a recent interview. Batista and Alicki are partnered with Robert Annunziata in a renova- tion of the 95,668-square-foot Croft Commons building at 95 Scovill St. They are renovating the onetime high school in phases, expecting to even- Brian Godin Michael Grieder A family of investors from Long Island recently paid $300,000 for the former Webster Bank executive offices at 132 Bank St. (to the right of The Turf Bar and Grill) in Waterbury. HBJ PHOTO | MICHAEL PUFFER What's Sold Here's a list of recently sold commercial properties. Properties are listed in order of sales date. Property address City Sale price Property type Building sq. ft. Year built 81 N Main St East Hampton $1,000,000 Retail 11,288 1920 52 National Dr Glastonbury $800,000 Office 5,408 1980 49 Tolland Tpke Manchester $565,000 Office 10,590 1987 1906 Berlin Tpke Berlin $400,000 Hospitality 3,048 1954 64 Ella Grasso Tpke (Part of Portfolio) Windsor Locks $6,018,336 Hospitality 52,180 1991 20 Front St Hartford $35,300,000 Multi-Family 118,955 2015 776 Farmington Ave West Hartford $918,750 Office 10,750 1900 378 Windsor Ave Windsor $250,000 Office 3,261 1972 529 Main St New Hartford $245,000 Office 3,356 1798 35 Old Farms Rd Avon $105,000 Office 1,320 1990 80 George St East Hartford $245,000 Industrial 3,000 1966 150 Meadow St Hartford $3,800,000 Flex 73,996 1983 164 Central St Bristol $525,000 Retail 10,287 1930 164 Stafford Rd Mansfield Center $150,000 Sports & Entertainment 3,600 1991 1835 Farmington Ave Unionville $950,000 Retail 2,530 1960 14 Grassmere Ave West Hartford $215,000 Industrial 4,523 1965 45-47 Shultas Pl Hartford $685,000 Multi-Family 9,849 1918 273 Broad St Manchester $418,000 Retail 1,760 1970 98 John St New Britain $214,500 Industrial 5,700 1951 383 Silas Deane Hwy Wethersfield $372,500 Office 5,892 1965 110 Main St East Hartford $130,000 Office 2,922 1875 7-17 Bradley Park Rd East Granby $6,200,000 Industrial 154,000 2011 Source: Costar

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