Hartford Business Journal

14 Hartford Business Journal • January 9, 2017 www.HartfordBusiness.com 10 area multi-family properties fetch more than $20.4M A portfolio of 10 Hartford area apartment- condominium communities with 384 units recently sold for more than $20.4 million, officials say. New York-based Up Realty LLC bought the properties. Eastern Union Funding arranged the acquisition financing, which included three loans from Bankwell and three loans from Investors Bank. The properties include 97 investor-owned condos at Gateway Estates Condominiums and 103 investor condos at Coachlight Village, both in East Hartford, as well as 90 additional apartments in Hartford, 60 apartments in Newington, and 34 apartments in New Britain. Eastern Union Senior Managing Direc- tor Motti Blau and Senior Underwriter Uri Shoshana acted on behalf of Up Realty LLC. The properties are: 229-233 Ellington Road (Gateway Estates Condominiums), East Hartford; 30 Hillside Street (Coach- light Village), East Hartford; 59 Evergreen Ave., Hartford; 61 Evergreen Ave., Hartford; 69-71 James St., Hartford; 73-75 James St., Hartford; 530 Wethersfield Ave., Hartford; 359 New Park Ave., Hartford; 1380-1390 East Street (Brookside Court Condos), New Britain; 1431 Willard Ave. (Stonegate Apart- ments), Newington. Middletown area sales/leases Middletown's Trevor Davis Commercial Real Estate LLC listed a series of recent sales and leases in central Connecticut. Trevor Davis Commercial was sole broker, unless otherwise noted. • In Middletown, the Estate of Robert Fishman sold a 3,050-square-foot retail build- ing at 533 Washington St./Route 66 to Com- merce Circle Associates LLC for $430,000. • Also on Washington Street, Kaoud Real Estate Development/Washington West LLC paid $450,000 for six parcels totaling almost six acres at 768, 778, 804 and 808 Washington St. from seller Philip H. W. Redford. The parcels are on the cor- ner of Plaza Drive, next to the Staples Shop- ping Center. The lone building was a former antique store, at 808 Washington St. Kaoud will seek approvals from the city and the Army Corps of Engineers before developing it for retail use, Trevor Davis said. • At 19 Tuttle Place, Integrated Secu- rity Group Inc. leased 9,950 square feet of corner space formerly occupied by Comcast. ISG will move from its current Meriden loca- tion of 1501 East Main St. Trevor Davis repre- sented the tenant. CBRE-New England repre- sented landlord, Richard R. Del Favero. • At 442 Main Street, Cricket Wireless/ MobileLink LLC 1eased 1,057 square feet of retail space. Main LLC is landlord. • Next door, at 438 Main St., HealthDrive Corp. signed for 998 square feet; Michelle Manter/Keller Williams leased 367 square feet; Cocoon Web Design signed for 367 square feet; and Helen Evrard leased 355 square feet. Main LLC is landlord. • At Middletown Business Park, 430-468 Smith St., LightStat leased 3,868 square feet; A & B Homecare leased 411 square feet; and Andrea Maule leased 393 square feet. Trevor Davis represented landlord Boston - Middletown LLC. CBRE-New England represented LightStat. • At Central Suites at The Central, 363 Main St., the following tenants have leased space: Attorney John Shaw, 551 square feet; Gabriel Kastelle, 425 square feet; and Hibbard & Rosa Architects, leased 1,890 square feet. 363 Main Street Mid- dletown LLC is landlord. • At Sanseer Mill Office Park, 282 Main Street Ext., New England Residential signed for 4,851 square feet; Columbus House for 2,821 square feet; New England Geosystems, 2,285 square feet; and Palm- er Eyecare Center, 2,209 square feet. C & S Investments LLC is landlord. • At Baldwin Business Park, 440 Middlefield St., Sangha Trading leased 1,500 square feet from landlord Middletown Revival LLC. 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 2-Jan ECONOMICS Land area (sq. miles) 18 Business profile (2013) Pop./sq. mile (2011) 2,845 Sector Units Median age (2010-14) 39 Construction 97 978 Households (2010-14) 20,157 Manufacturing NA NA Median HH Inc. (2010-14) $50,355 Retail Trade 145 2,200 94 2,527 Population (2012) Health Care and Social Assistance 95 2,617 2000 49,575 Total Government 36 2,716 2010 51,252 2014 51,211 2020 53,383 LABOR FORCE Commuters (2014) Race/Ethnicity (2010-14) Commuters into town from: White 19,613 East Hartford 3,088 995 Black 12,869 Manchester 1,861 937 Asian Pacific 2,940 Hartford 1,786 Vernon 894 Native American 4 Town % State % Glastonbury 1,153 Other/Multi-race 8,080 11,994 34% 28% Hispanic 14,897 3,115 9% 7% 6,727 19% 36% Labor Force (Residence) 27,513 HOUSING 25,166 Housing stock (2010-14) GOVERNMENT 2,347 Existing units (total) 21,731 8.5% % single unit 51.0% New permits auth. (2015) 3 Place of Work (2013) as % existing units 0.00% 1266 Demolitions (2015) 1 29,624 Residential sales (2013) 504 NA Median price $169,900 TOP 5 GRAND LIST Top 5 Employers Company Amount % of Net $367.8M 9.3% $114.3M 2.8% Fremont Group $44.5M 1.1% $33.1M 0.8% $30.8M 0.7% Bachelor's or more Equalized net grand list (2010) Goodwin College as % of state average 53% Fremont Riverview LLC per capita $77,144 Clearwater Paper Corp $2,300 Mayor-Council $191,356,000 Coca Cola Bottling Co. Connecticut Light and Power Goodwin College United Technologies Corp $1,299 $3,936,906,558 5.4% $10,283,000 56.1% Employed Unemployed 34.6% Government form as % of expenditures Unemployment Rate # of units Total Employment Manufacturing Employment Total revenue (2014) Per capita tax (2014) $66,272,000 Total indebtedness (2014) Total expenditures (2014) as % of state average $191,742,000 Admin, Waste Mgmt, Remediation West Hartford South Windsor Employment DTZ Pratt & Whitney East Hartford 740 Main Street East Hartford, CT 06108 (860) 291-7100 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 85.2% EAST HARTFORD Town Hall: 740 Main Street East Hartford, CT 06108 (860) 291-7100 TOWN PROFILE Source: Connecticut Economic Resource Center, www.cerc.com (Left) Coachlight Village, 30 Hillside St., East Hartford. (Right) Stonegate Apts., 1431 Willard Ave., Newington. 533 Washington St., Middletown. P H O T O S | C O N T R I B U T E D

• Cover