Hartford Business Journal

February 6, 2017

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www.HartfordBusiness.com February 6, 2017 • Hartford Business Journal 7 WHAT'S AHEAD: There will be no issue publishing Feb. 13. Our Feb. 21 issue will be an expanded edition that includes a special section on our Best Places to Work awards. CALENDAR WEDNESDAY, FEB. 22 2017 Women Who Build Leadership and Networking Summit The Construction Institute of the University of Hartford will host its 2017 Women Who Build Summit Feb. 22. The event at the University of Hartford's Wilde Auditorium (200 Bloomfield Ave. West Hartford), which runs from 7:45 a.m. to 4 p.m., is geared toward architects, engineers, contractors, subcontractors, owners/operators (AECO), lawyers, accountants, and other professionals in the construction industry. Paulette Brown, the immediate past president of the American Bar Association and the first African-American female to hold that position, will serve as the keynote speaker. Rashda Rana, an internationally known construction arbitrator and mediator, will also speak. Cost to attend is $100 for members; $125 for nonmembers. To register or for more information contact: Lisa Harlow, lharlow@construction.org or 860.768.5690. REAL ESTATE Southington fulfillment center to employ 200 A Milford fulfillment vendor has opened a 300,000-square-foot distribution center in a former Southington aircraft-engine plant that will employ as many as 200 workers in coming months, officials say. 3PL Worldwide took just 40 days from signing a long-term lease in late November to completion of outfitting and stocking the space at 74 Aircraft Road in the Southington Business Park, said landlord's broker O,R&L Commercial LLC. South Business Park II LLC of Larchmont, N.Y., is landlord. IRG Realty Advisors manages the park. Among 3PL's other fulfillment sites is its 150,000-square-foot Milford facility at 500 Bic Drive, and a 160,000-square-foot center in Pico Rivera, Calif. 3PL is one of a growing Connecticut and U.S. cast of third-party fulfillment vendors, serving e-commerce and retail catalog cus- tomers. Retail-clients' merchandise is stored in the facilities until customer orders are received, then the items typically are shipped directly to customers. Warren: CT Dec. house sales hit 9-yr. high Connecticut's single-family house sales rose to a nine-year high in December, pushing up the state's 12-month sales, accord- ing to a final-year tally. Median prices stayed flat. Homes sales statewide rose 2.7 percent to 2,656 units in De- cember vs. 2,587 units sold the last month of 2015, according to The Warren Group, publisher of The Commercial Record. In 2016, sales rose 8.7 percent to 32,235 transactions vs. 29,644 in 2015, Warren said. The median price of a single-family home rose 2.1 percent in December to $240,000 vs. $235,000 a year ago. For the year, prices slightly increased to $247,000 vs. $246,000 in 2015. "The Connecticut housing market had an outstanding year in terms of sales volume," said CEO Timothy Warren. "Median prices remained steady and well below their peak in 2007. Buyers took advantage of low prices and scooped up more homes than in any of the past nine years." Condominium sales statewide rose 15.7 percent in December, with 716 condos sold, up from 619 in Dec. 2015. Year-to-date, condo sales were up 5.3 percent. CT's '16 housing permits plunge Connecticut's housing industry built 23 percent fewer dwell- ings in 2016 than the previous year, new tallies show. The 104 municipalities whose monthly home-building permits are surveyed by the federal Census Bureau issued just 109 hous- ing permits in December, well under the 419 granted the same month in 2015, according to the state Department of Economic and Community Development. The December count raised the full-year 2016 tally to 4,095 vs. 5,322 permits issued in 2015, DECD said, citing census data. Multi-family construction permits last year continued to well outpace single-family building permits. Bloomfield led all 104 communities surveyed, issuing 411 housing permits in 2016. Paulette Brown Quality Construction + Butler Manufacturing = Repeat Customers www.borghesibuilding.com © 2011 BlueScope Buildings North America, Inc. All rights reserved. Butler Manufacturing™ is a division of BlueScope Buildings North America, Inc. 2155 East Main Street • Torrington, Connecticut 06790 Nufern, East Granby, CT | 1989 | 40,000 sq. ft. 2013 | Addition — 20,000 sq. ft. Contact us at 860-482-7613 or visit us on the web. Subscribe online: HartfordBusiness.com/ subscribe Delivering Business. When you need information to grow your business, we deliver! Subscribe today to receive weekly issues in print and digital, plus special publications and full online access! An inside view of the 300,000-square-foot Southington Business Park. P H O T O | C O N T R I B U T E D

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