Issue link: https://nebusinessmedia.uberflip.com/i/740943
www.HartfordBusiness.com October 24, 2016 • Hartford Business Journal 7 WHAT'S AHEAD: ■ 10/31 Focus: Retail ■ The List: Largest Shopping Centers ■ Nonprofit Profile: MetroHartford Alliance CALENDAR WEDNESDAY, OCT. 26 Manufacturing Forum CONNSTEP Inc. is hosting a manufacturing forum to help business owners shape the future of their companies by gaining insight into what drives value and how to assess their current state of operations. The event, featuring keynote speaker Chuck Richards, founder of CoreValue Software, and a panel of industry experts, will be held Oct. 26, from 7:30 a.m. to noon, at the Sheraton Hartford South in Rocky Hill. Richards will focus on the opportunities and challenges business owners — nationally and locally — face when operating and sustaining a manufacturing company. The event lineup also includes a panel discussion moderated by Bonnie Stewart, vice president of government and public affairs of the Connecticut Business and Industry Association. Cost to attend is $25. For more information or to register go to: http:// www.connstep.org/. TECHNOLOGY Drones aid Hartford insurer in assessing hurricane claims The Travelers Cos. Inc. is using drones to help inspect property damage in the states affected by Hurricane Matthew. The insurer, with major Hartford operations, is deploying claims professionals who will use the small unmanned aircraft systems to assess properties in South Carolina, Georgia and other states affected by the recent storm. Travelers' drone op- erators have been trained to meet the Federal Aviation Adminis- tration's regulations and have been fully certified by the FAA to operate the drones. Patrick Gee, senior vice president of claims at Travelers, said drone usage will help customers recover from losses more quickly "because it expedites inspections, payments and repairs." Travelers launched its drone training program last spring in an- ticipation of the FAA's commercial drone regulations, which took effect in August. REAL ESTATE Hartford area house prices higher in Sept. Existing-home sales in the Hartford area flattened in Septem- ber, but median prices rose 5 percent, Realtors say, noting that sales listings have tightened. There were 1,076 single-family units sold last month vs. 1,066 sold in Sept. 2015, the Greater Hartford Association of Realtors (GHAR) said. Median-sale price for the most recent closings was $229,000 vs. $217,000 a year earlier, GHAR said. Meanwhile, new listings for houses on the market dipped 14.5 percent in September, typically when fewer dwellings come up for sale due to approaching cold weather and the holiday season. In the condominium market, their closings grew steeply in September, up 13 percent to 9,118 units vs. 8,067 a year ago, the association said. However, their median sale price plummeted last month to $136,000 vs. $155,000 the same month last year. Glastonbury's Somerset Sq. draws $42M sale A New York City commercial landlord says it paid $42 million for Glastonbury's The Shops at Somerset Square. Manhattan-based Rouse Properties said last week its purchase of the 115,000-square-foot "lifestyle" shopping center at 140 Glastonbury Blvd. marks its first foray into Connecticut's commer- cial real estate market. The seller wasn't disclosed. "The Shops at Somerset Square ... addition ... allows us to enter the strong Northeast market and add another dominant retail center where we can create added value by enhancing the merchandising mix and shopping experience," Rouse CEO Brian Harper said in a statement. Somerset Square's retail lineup includes: Max Fish and Max Amore, Lux Bond & Green, Francesca's, Victoria's Secret, White House Black Market, Chicos, Talbots, Chipotle and Starbucks. Rouse Properties is a real estate investment trust owned by affiliates of Brookfield Asset Management. Its portfolio includes 36 malls and retail centers in 22 states (23.8 million square feet). Chuck Richards A drone is shown inspecting a house ravaged by a fire. P H O T O | H B J F I L E I'M NOT A CONTRACTOR. I'M A CATALYST changing Connecticut for the greener. Contractors all over the state are building their business while they accelerate Connecticut's green energy movement. They're partnering with Connecticut Green Bank, the public/private organization created to make Connecticut more energy effi cient. Contractors are able to off er C-PACE fi nancing to building owners and other fl exible fi nancing solutions to homeowners. Are you ready to experience the power of positive energy? Let's get started at ctgreenbank.com/power.