Issue link: https://nebusinessmedia.uberflip.com/i/572563
www.HartfordBusiness.com September 21, 2015 • Hartford Business Journal 11 21-Sep ECONOMICS Land area (sq. miles) 41 Business profile (2013) Pop./sq. mile (2011) 1,162 Sector Units Median age (2011) 37 Construction 92 707 Households (2011) 19,792 Manufacturing 61 3,872 Median HH Inc. (2011) $60,542 Retail Trade 134 1,780 163 5,930 Population (2012) 110 1,784 2000 43,167 Total Government 53 5,694 2010 47,349 State Government 28 3,919 2012 47,530 2020 51,372 LABOR FORCE Commuters (2011) Race/Ethnicity (2012) Commuters into town from: White 36,155 Middletown 4,924 630 Black 6,094 Meriden 1,175 601 Asian Pacific 2,424 New Britain 775 565 Native American 111 Town % State % Portland 763 517 Other/Multi-race 2,746 10,027 31% 28% Cromwell 649 Hispanic 4,150 2,631 8% 7% 11,339 35% 36% Labor Force (Residence) 26,083 HOUSING 24,072 Housing stock (2012) GOVERNMENT 2,011 Existing units (total) 21,335 7.7% % single unit 51.7% New permits auth. (2012) 20 Place of Work (2013) as % existing units 0.09% 1,261 Demolitions (2012) 0 27,488 Residential sales (2011) 230 3,872 Median price $220,000 TOP 5 GRAND LIST Top 5 Employers Company Amount % of Net $137.0M 4.1% $104.3M 3.1% Kleen Energy Systems LLC $66.1M 2.0% United Technologies Corp $49.2M 1.5% $42.4M 1.3% Employment Connecticut Valley Hospital Middlesex Hospital Middletown 245 deKoven Drive Middletown, CT 06457 (860) 344-3459 Annual debt service (2012) as % of expenditures as % of state average per capita Educational attainment (2012) Persons age 25 or older High school graduate Associate's Degree 76.1% Health Care and Social Assistance Bristol Wallingford East Hampton Haddam Accommodation and Food Services Employed Unemployed 50.0% Government form as % of expenditures Unemployment Rate # of units Total Employment Manufacturing Employment Total revenue (2012) Per capita tax (2012) $61,770,000 Total indebtedness (2012) Total expenditures (2012) as % of state average $137,606,000 Middletown Power LLC Connecticut Light & Power Aetna Life $1,300 $4,963,496,158 10.4% $12,889,000 57.6% Bachelor's or more Equalized net grand list (2010) Wesleyan University as % of state average 72% State Police per capita $104,429 Whiting Forensic Institute $1,964 Mayor-Council $123,518,000 MIDDLETOWN Town Hall: 245 deKoven Drive Middletown, CT 06457 (860) 344-3459 TOWN PROFILE Source: Connecticut Economic Resource Center, www.cerc.com Farmington's Centennial Inn sells for $7.5M T he Centennial Inn Apartments has a new owner who paid $7.5 million for the one-time extended-stay hotel on Route 6/Spring Lane in Farmington. Originally built in 1987 by West Hartford developer Simon Konover, half of Centen- nial's 112 units were converted in 2010 into apartments. The other half remain extended-stay suites, but new owner Mystic Properties Management eventually plans to convert those into apart- ments, too, according to broker Rick Chozick, of Hartford's Chozick Realty, who represented seller Centennial Inns Inc. The proximity of major employers, among them Trumpf Inc., the UConn Health Center, Jackson Laboratory, plus the newly relocated Farmington corporate headquar- ters for United Technologies Corp. to be closer to its operating units Otis Elevator and Carrier, makes apartments and other multi- and single-family housing more attractive, Chozick said. Centennial's on-site amenities include a swimming pool with sun deck, basketball court and walking trails. Media Links' relo Media Links Inc. has leased 10,400 square feet in Windsor's Kennedy Business Park to relocate its network infrastructure- solution development and manufacturing operations from Bloomfield. Media Links has been housed at 431 Hayden Station Road since August; it was previously located at 1294 Blue Hills Ave. Sentry Commercial represented Media Links. Windsor Management Co. represent- ed landlord Kennedy Parks LLC in the lease. Newington med-office full Pediatric Communications Center has leased the last 650 square feet of medical-office space in the Newington Professional Center, filling the downtown property, brokers say. Pediatric Communications in August moved into its new quarters, providing speech, language and literacy assessments to children, adolescents and young adults. Newington Professional Center LLC owns the 12,000-square-foot building at 1268 Main St. The property's other medical tenants are engaged in internal medicine, mental health, chiropractic, counseling, laboratory and dental services. Liberty Bank also occupies a free-stand- ing, 2,800-square-foot commercial pad site on the property. Reno Properties Group brokered the lease. Mel-Pet's Vernon play Landlord Mel-Pet Realty Co. seeks ten- ants and/or a buyer for its 52,000-square- foot industrial facility in Vernon. The 6-acre property known as Vernon Industrial Place, 77 Industrial Park Road, is about 80 percent leased and has a $1.5 million pricetag, according to listing broker Sentry Commercial. Units available for lease range in size from 2,000 to 8,000 square feet. EDRO's Berlin expansion Berlin's EDRO Corp. is building a 12,000-square-foot addition onto its facility at 37 Commerce St. in the East Berlin section of town, according to town officials. The expansion will permit EDRO to remain in town and expand production and distribution of its large commercial dryers — some of which are used aboard U.S. Navy ships and submarines. Eventually, EDRO expects to add anoth- er four to five jobs, Berlin's economic-devel- opment office recently blogged. Windsor office listing A nearly 7,000-square-foot Windsor office building is for sale at $700,000, brokers say. The free-standing building on 4 acres at 276 Addison Road, one mile from I-91 at exit 37, has 6,996 square feet of space, with a loading platform and 8-foot by 10-foot overhead door, according to listing broker Sentry Commercial. The site has parking for 28 vehicles. Darly Custom Technology is a tenant. n Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com. Gregory Seay is the Hartford Business Journal News Editor. Gregory Seay DEAL WATCH The Centennial Inn in Farmington. P H O T O | C O N T R I B U T E D 77 Industrial Park Road, Vernon. P H O T O | C O N T R I B U T E D