Hartford Business Journal

www.HartfordBusiness.com December 19, 2016 • Hartford Business Journal 7 WHAT'S AHEAD: ■ 12/26/17: Book of Lists/Economic Forecast/5 to Watch 2017 CALENDAR MONDAY, JAN. 9 Economic Summit + Outlook 2017 Boston Fed President Eric Rosengren will keynote the Connecticut Business and Industry Association's annual economic outlook event, Jan. 9 at the Hartford Marriott Downtown, 200 Columbus Blvd., Hartford. The event, which runs from 8:30 a.m. to noon, will allow attendees to network with other executives, hear the 2017 forecast from top state and national economists, get the outlook on the state's fiscal issues, plus solutions for boosting Connecticut's economy. In addition to Rosengren's remarks, there will be two other panel discussions ("Fixing Connecticut's Economy: What Will It Take?" and "Finding Success in Connecticut") as well as closing comments by MetroHartford Alliance CEO Oz Greibel. Cost to attend is $95 for members, $130 for nonmembers. For more information or to register go to: https://www.cbia.com/. F O R A C O M P L E T E L I S T O F G R E A T E R H A R T F O R D B U S I N E S S E V E N T S , G O T O W W W . H A R T F O R D B U S I N E S S . C O M A N D C L I C K O N ' C A L E N D A R . ' A L L C A L E N D A R I T E M S M U S T B E S U B M I T T E D E L E C T R O N I C A L L Y V I A O U R W E B S I T E , H A R T F O R D B U S I N E S S . C O M . REAL ESTATE $23.6M Glastonbury office bldg. sale A prime office building in Glastonbury's Somerset Square has drawn a $23.6 million sale price, brokers said last week. The Silverman Group, the New Jersey landlord that previously owned and sold downtown Hartford's 100 Pearl office tower and is redeveloping The Hartford's former Simsbury campus, sold the four- story, 147,035-square-foot office property at 95 Glastonbury Blvd. Silverman Group bought the Somerset Square building in 2011. A partnership controlled by Windsor-based Capstone Properties was the buyer, according to seller's broker CBRE-New England, which said it brought Capstone to the table. Major tenants include United Bank, SAS Institute, USI Consult- ing, Liberty Mutual, Infosys, American Nuclear Insurers and Ha- nover Insurance. Report: CT, New England states to see housing gains in 2017 Connecticut is among New England states that will see con- tinued housing demand and sales in 2017, driven largely by first- time buyers, according to a fresh market-outlook report. "The New England housing market shows promise of contin- ued growth early in 2017, given the combination of low interest rates and ongoing demand among first-time buyers, especially in cities and surrounding areas," said Dan Breault, executive vice president and regional director at RE/MAX Integra, New England. Affordability will remain the key factor in driving sales, as inven- tory is low, Breault said. First-time buyers and Millennials represent a dominating force across New England, as they are rapidly purchasing single-family homes and condos in proximity to cities, he added. Hartford, Boston, Providence, R.I., Portland, Maine, Burlington, Vt., and Portsmouth, N.H. are predicted to see increases in aver- age residential sales price in 2017, illustrating the buyer power of Millennials, he said. Consumer confidence among move-up buyers is expected to grow in some major markets across New England, including Hart- ford, Boston and Burlington, the report found. Eric Rosengren Thanks For Giving Every Child A Shot. Due to the generous support of Kevin Ollie Charity Classic sponsors like Foxwoods Resort Casino and Mashantucket Pequot Tribal Nation we have installed our first inclusive basketball court—Kevin's Kourt—this past June with three more planned for 2017. Kevin's Kourts help children and families, of all ages and abilities, discover the freedom of playing together without limitations. Visit KevinOllieGolf.org to learn about Kevin's Kourts and our 2017 event. Media Partner: Mashantucket Pequot Tribal Nation First Kevin's Kourts opening, Boys & Girls Club of Hartford, June 6, 2016 NY • CT • www.cocommunications.com • 860.676.4400 95 Glastonbury Blvd., Glastonbury. LABOR & BENEFITS Report: New England employer compensation costs still high Employers in New England and the Northeast had the highest employee compensation costs nationally in September, according to the U.S. Bureau of Labor Statistics. So-called Employer Costs for Employee Compensation (ECEC) measure the average cost to private-industry employers for wag- es, salaries and benefits per-employee hour worked. In the Northeast, that total cost averaged $39.06 per hour, with New England trailing slightly at $38.92 per hour. Within the Northeast, the Mid-Atlantic again outpaced New England, at $39.12 per hour. P H O T O | C O N T R I B U T E D

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