Hartford Business Journal

HBJ121123UF

Issue link: https://nebusinessmedia.uberflip.com/i/1512766

Contents of this Issue

Navigation

Page 6 of 35

HARTFORDBUSINESS.COM | DECEMBER 11, 2023 7 DEAL WATCH: BUYERS & SELLERS SUSTAINABLE FACILITIES COMPETITIVE. EFFICIENT. PRODUCTIVE. The company that builds and installs the critical systems in virtually every type of facility is the same company you can rely on to maintain them. For over 50 years, our clients have trusted us to provide sustainable, more efficient, greener facilities. Experts in: Energy Systems & Incentives, Building Automation Technologies, Sustainable Design & Operation 860.871.1111 Toll Free: 800.741.6367 nemsi.com MECHANICAL | ELECTRICAL | PLUMBING | SHEET METAL | BUILDING AUTOMATION | FACILITIES SERVICES License #'s: E1-0125666 S1-302974 P1-203519 F1-10498 SM1-192 MC-1134 Bristol's RGD Technologies sells its manufacturing building for $7.1M B ristol-based RGD Tech- nologies recently sold its 205,128-square-foot manufacturing building for $7.1 million, but will continue operations as a tenant of the new owners. The 53-year-old company has long been a fixture in Bris- tol's corporate community, as a supporter of community events and charities. In a sale recorded on Nov. 9, RGD's real estate arm — RGD Realty LLC — sold the two-story, 1942-vintage building and asso- ciated 9.1 acres at 50 Emmett St., to Emmett Group LLC, of Brooklyn, New York. RGD bought the Bristol prop- erty in 1990. The company has shrunk its headcount over the past two decades, divesting divi- sions to focus on core compe- tencies and cutting labor needs through the adoption of modern machines, according to founder and owner Bob Dabkowski. The company has shrunk from 135 employees in 2006, to 32 today, Dabkowski said. Dabkowski said RGD now leases about 60% of the building from the new owner, which he described as a real estate investor. It's more space than RGD had previously occupied, Dabkowski noted. He said business is strong, and the lease provides room for growth. Seven companies that leased space from RGD will also remain as tenants of the new owner, he said. 50 Emmett St., Bristol. PHOTO | COSTAR AVON It took "minutes" to sell a 10,222-square- foot warehouse on 5 acres in Avon, according to one of the brokers involved in the $1.15 million sale. "The phone still rings asking if the property is still available," said Vincent Verrillo, a broker with Berkshire Hathaway HomeServices New England. Verrillo and Gary Emerito, also of Berk- shire Hathaway, represented the seller in a transaction that went well over the initial $789,900 asking price. The estate of Jeffrey V. Scott, of Manchester, last month sold the prop- erty at 165 Thompson Road to Zyta, Leopold and Blazej Zajaczkowska, all of Farmington. Attempts to reach the new owners were not successful. The 1963-vintage, metal-sided ware- house last sold for $220,000 in 2013, according to assessing records. Verrillo said multiple offers were received by telephone minutes after the property was listed. He credited the intense interest to an extremely tight supply of commercial and industrially zoned property. HARTFORD The Ukrainian National Home of Hart- ford recently paid $1.6 million for a Crom- well office building that will serve as its new cultural and events center. The group purchased an 18-year-old, 12,324-square-foot office building on 1.4 acres at 5 Commerce Drive. A recorded message left on the Ukrainian National Home's answering service on Nov. 21 noted the group is moving to Cromwell. During a July 6 Cromwell Planning and Zoning Commission meeting, a representa- tive of the 220-member Ukrainian organiza- tion said the group was buying the building for nonprofit cultural activities, music lessons, youth activities, dancing and social events, according to meeting minutes. The social club will also be serving alcohol and food to members. The group intends to change its name to the Ukrainian American Cultural Center of Connecticut, according to meeting minutes. Philip L. Gagnon and Sean A. Kumnick, both with Colliers, represented the seller — Armonk, New York-based IJAN 2 CT Realty LLC — and procured the buyer. FARMINGTON A prominent developer has received zoning approval for a 91-unit mixed-in- come apartment complex on New Britain Avenue in Farmington. Metro Realty Group, which specializes in affordable housing projects and is led by Geoffrey Sager, will build 33 one-bedroom and 58 two-bedroom apartments across 12 buildings at 8562 New Britain Ave., according to plans submitted to the town. The 9-acre site is near Route 6 and across from the office building of digital marketing firm Primacy. Metro Realty recently received approval for a similar 88-unit project in Berlin.

Articles in this issue

Links on this page

Archives of this issue

view archives of Hartford Business Journal - HBJ121123UF