Hartford Business Journal

8 HARTFORDBUSINESS.COM | MAY 29, 2023 DEAL WATCH: BUYERS & SELLERS Rocky Hill warehouse complex proposed A local real estate investor is proposing a new, four- building warehouse complex totaling 120,000 square feet in Rocky Hill, which would require a zone change from an office park to a business park. Property owner, applicant and developer Brook Street Rocky Hill LLC, headed by principal Miodrag Delmic, has submitted a site plan to the Rocky Hill Planning and Zoning Commission for properties at 553, 565 and 595 Brook St. Delmic bought the three parcels in August 2021, for just over $1 million. Delmic is proposing to build four new warehouses on the site: two will be 30,000 square feet with six bays each; one will be 20,000 square feet with four bays; and another will be 40,000 square feet with eight bays. The warehouses are being built on speculation, the application said. A site plan for a new warehouse development on Brook Street in Rocky Hill. MIDDLETOWN A development group recently announced plans to build a 240-unit, high-end apart- ment project in Middletown by 2025. Harbor Group International, which said it has $20 billion in real estate assets, and PB Development announced plans for the $83.5 million "Springside Meadow" apartments to be completed at 494 Newfield St. by 2025. Harbor Group will cover 80% of required common equity for the development, it said. A second phase of the project could include an additional 174 units, bringing the total development to 414 units at a cost of over $100 million. The Springside development will feature townhome layouts and more than 11,000 square feet of amenity space featuring a coffee bar, package management, fitness center and more. Springside will be Harbor Group's second recent venture in Connecticut, following its December 2022 acquisition of the 932-unit "Pavilions" apartment complex in Manchester. WEST HARTFORD West Hartford-based multifamily developer and investor Hexagon Group is hoping to use the town's recently adopted transit-ori- ented district to build dozens of apartments in a four-story building at 579 New Park Ave. Jason Li, of Hexagon, and architect Bret Bowin, of Urform LLC, recently approached the town's Design Review Advisory Committee to present a tentative concept for a 70-unit apartment development at the New Park Avenue address. The 1.2-acre property currently hosts a 7,626-square-foot truck storage garage built in 1947, according to assessing records. It sits across from a LifeStorage facility and next to a Tile America shop, on a commer- cial and industrial strip that has seen rising interest in multifamily housing following the town's adoption last June of a new transit-ori- ented development district. The district allows developers to build higher-density multifamily housing near mass transit. BLOOMFIELD A 40,900-square-foot light industrial building on 4.8 acres in Bloomfield recently sold for $3 million. 6 Britton Drive LLC sold the property at 6 Britton Drive to a limited liability company affili- ated with New Jersey-based Warehouse4Biz. The principal of the buying LLC is Dan Kwilecki, managing principal of Ware- house4Biz, and a principal of its parent company, Kwilecki Development. Kwilecki said Warehouse4Biz offers industrial space for rent in New York, New Jersey and Connecticut. It also owns a property in Torrington. Warehouse4Biz focuses on the develop- ment of business incubators for small and medium-sized distribution, manufacturing and e-commerce companies. Kwilecki said it can offer spaces as small as 2,500 square feet in buildings used by multiple tenants, and it has also leased to single-occupant users. Member FDIC westfieldbank.com 413.568.1911 • 860.838.3766 • 800.995.5734 Open a CD at Westfield Bank today! Looking for a safe, convenient way to save? Check out our Certificates of Deposit (CDs). To be eligible for a WB Signature CD, all you need is a WB Signature or WB Performance checking account. A WB Portfolio CD requires a WB Portfolio Checking account. Opening your CD is easy. Just call or visit your nearest Westfield Bank location. Signature CDs can also be opened online at westfieldbank.com. *APY (Annual Percentage Yield) is effective as of the date of publication. A penalty may be imposed for early withdrawal. Minimum balance to open a certificate of deposit (CD) is $1,000. Minimum balance to obtain APY is $10.00. WB Signature CD requires a WB Signature Checking, WB Performance or WB Portfolio Checking account. WB Portfolio CD requires a WB Portfolio Checking account. Consumer accounts only. Landing a great parking spot is good. Finding one for your money? That's better. 4.65 Portfolio CD % APY* 9 Month 4.25 Signature CD % APY* 11 Month

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