CT commercial real estate by Vidal Wettenstein, LLC











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Commercial Real Estate News at Vidal/Wettenstein

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Vidal/Wettenstein Negotiates $1,950,000 Sale


FAIRFIELD ICONIC PROPERTY SELLS


January 2012, Fairfield, CT --Bruce Wettenstein, SIOR and partner with Vidal/Wettenstein announced that the property at 1657 Post Road in Fairfield has been sold. The purchaser, Allonge’ Holding, LLC, will utilize the 6800 s.f. building as a leased property and new home to Flash Pointe Dance and Glitter & Grime. FPD and G&G are very excited to be able to offer this beautiful facility with 5 state of the art studios and 1000 feet of retail space to their clients starting late the summer of 2012. The seller, 1657 Post Road LLC, had owned the property for the past 85 years. Originally the building was a one story facility that housed Bonney Electric. Throughout the years, numerous retail business’ had been in the building. In 1993 the building had been the home to the Greenwich Workshop, and continues to be an Art Gallery today, housing the Russell Jinishian Gallery.

Bruce Wettenstein was the listing broker and represented the purchaser. Counsel for the buyer was Jack Lipson of Westport and counsel for the seller was Peter Ambrose of Fairfield.
 

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BLUEPRINT FINANCIAL LLC LEASES SPACE at OLD HILL OFFICES

January 2012, Westport, CT --David Fugitt, SIOR, Partner with Vidal/Wettenstein Commercial Real Estate together with David Flayhan, Principal of The Southport Group have leased 1,500 square feet of office space to Blueprint Financial LLC. The firm’s new location is at Old Hill Offices, 19 Ludlow Road in Westport. Fugitt represented the tenant in the transaction.

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Vidal/Wettenstein Negotiates Lease

AMERIPRISE OFFICE TO RELOCATE

 

January, 2012, Southport, CT -- It was announced today that Feinstein, Forma & Associates, a financial advisory branch of Ameriprise Financial Services Inc., has executed a lease for new office space in Southport.  The practice and their staff will be relocating to 2507 Post Road in Southport.  The 1,414 square foot unit will be completely retro-fitted to an Ameriprise branded office space. 

According to Noel Forma and Michael Feinstein, they are excited about the relocation and the opportunity to further serve their clients. The property is owned and managed by Investment Capital Partners, Inc.  Bruce Wettenstein, SIOR & partner with Vidal/Wettenstein, represented the tenant and negotiated the transaction.

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Vidal/Wettenstein Brokers Lease


WESTPORT LAW FIRM TO RELOCATE

 

January 2012, Westport, CT --David Fugitt, SIOR and Bruce Wettenstein, SIOR, & partners with Vidal/Wettenstein Commercial Real Estate brokerage based in Westport, CT announced today the recent leasing of new offices to the law firm of Begos, Horgan & Brown. The firm has been in Westport for 10 years and will be relocating to Southport.  The 2425 Post Road building is a professional multi tenant office building which is also home to the owner of the property. Vidal/Wettenstein represented Begos, Horgan & Brown, and negotiated the lease on behalf of the owners, Tide Mill, LLC.   

The firm's Connecticut partners are Patrick Begos, Christopher Brown and Daniel Green.  The firm's practice areas include foreclosure defense, employment law, divorce, disability insurance defense, and real estate matters.   Vidal/Wettenstein specializes in the commercial real estate market and has membership in the Society of industrial and Office Realtors organization.

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VIDAL/WETTENSTEIN BROKERS SALE 

W E BASSETT PROPERTY SOLD

December 2011, Derby, CT--It was recently announced that the commercial real estate firm, Vidal/Wettenstein, LLC of Westport Connecticut has brokered the sale of the former W E Bassett production facility in Derby.  The property is located at 257 Roosevelt Drive in Derby, and consists of approximately 40,000 sq/ft on 1.85 acres.  The purchaser, A Quick-Pick Crane Service of Shelton, was the purchaser.  According to George Schrade, President of A Quick, “The building will be used for warehousing of goods and customer equipment.”

The W.E Bassett Company was started in 1939 by William E. Bassett in Derby.  The plant was built in 1951 to accommodate the production of the Trim nail clipper that Bill designed in 1948.   Over the years the building experienced 5 expansions.  In 1978, the company built a new plant in Shelton and consolidated from the Derby facility.  Derby continued to manufacture nail clippers, toenail clippers, tweezers, stainless files, pocket tools and emery boards.  In 2000, the building became a warehouse when the manufacturing was relocated to Korea. 

Bruce Wettenstein, SIOR of Vidal/Wettenstein was the listing broker and represented the purchaser.  Counsel for the seller was Susan Hayes of Updike Kelly.  Counsel for the purchaser was Tom Welsh of Welch & Teodosio.

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Vidal/Wettenstein negotiates lease

BUNGE GLOBAL MARKETS, INC. LEASES FAIRFIELD OFFICE SPACE

November, 2011, Fairfield, CT--It was announced that Bunge Global Markets Inc., an indirect wholly owned subsidiary of Bunge Ltd, has leased 1,500 square feet office space in Fairfield, Connecticut.  Bunge Global Markets Inc., has offices in Town but will be relocating to 46 Miller Street to accommodate additional growth.  Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company with approximately 32,000 employees in more than 30 countries.  Bunge buys, sells stores and transports oilseeds and grains to serve customers worldwide.  Founded in 1818, the company is headquartered in White Plains, New York. 

Bruce Wettenstein, SIOR represented the tenant, and Frank Dinardo of Watch Hill Properties represented the building owner.

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TMG Energy Systems Leases Space in Rye, NY

October, 2011, Rye, NY--Robert Lewis, Partner at Vidal Wettenstein, LLC, represented TMG Energy Systems in the leasing of their new corporate headquarters at the International Corporate Center, 555 Theodore Fremd Avenue, Rye, NY.  TMG saves clients' money and reduces their carbon footprint by implementing sustainable and green energy solutions in system design and integration. Specializing in construction management, on-site and turnkey projects, TMG combines the knowledge and experience required to implement energy solutions on time and on budget. Client focused, TMG provides exceptional service tailored to meet public and private sector customer needs.

TMG implements integrated, sustainable energy solutions in commercial, residential, industrial, and healthcare buildings with four options: Owners Representation, Construction Management, Facility Based Utility, and Turnkey projects.

The International Corporate Center is a 170,000 sq. ft. state of the art class A office property, and TMG has leased approximately 3,800 sq. ft. on the second floor for a five and a half year term.

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Vidal/Wettenstein negotiates sale of property for $1,550,000

SHELTON BUILDING SELLS TO BIOTECH COMPANY

September, 2011, Shelton, CT--It was announced today that Inno-Haven, LLC, of Woodbridge, CT, has purchased the property at 1 Controls Drive in Shelton, Connecticut.  Inno-Haven is a special purpose company formed for the acquisition and renovation of this facility. The building will be renovated for use by NanoViricides, Inc., a world leader antiviral nanomedicine company currently located in West Haven, CT.  The 18,000 square foot building was originally constructed by Anton Bauer in 1982.  In 1998, OEM Controls purchased the property for their company expansion and during their re-configuration of their business, consolidated into their existing building in Shelton.  The building had recently been occupied by a commercial printing and copying center.

NanoViricides, Inc. (stock symbol: NNVC) is developing antiviral nanomachines that are designed to course through the bloodstream, go into the fluid-filled spaces in the body, then find, grab and destroy offending virus particles. The "address" specifying which virus particles to attack is programmed into the nanomachine. The company calls such an address-directed nanomachine a "nanoviricide".

NanoViricides, Inc. is a development stage company. The Company's novel nanoviricide class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. The Company is developing drugs against a number of viral diseases including H5N1 bird flu, seasonal influenza, HIV, Epidemic Kerato-Conjunctivitis (EKC), hepatitis C, rabies, dengue fever, and Ebola virus, among others. The Company will be leasing the renovated laboratory and FDA-compliant manufacturing space from Inno-Haven, LLC. 

Bruce Wettenstein, SIOR & Partner with Vidal/Wettenstein negotiated the sale of the property. 

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CT Challenge leases 250 Pequot Ave in the heart of Southport Village

August, 2011, Southport, CT, --An 8,000 square foot Center for Survivorship is opening in the autumn of 2011 and will be the centerpiece for the ongoing mission of the CT Challenge, to empower cancer survivors to live longer, happier, healthier lives by creating and funding unique programs, offering credible resources, and building a community of support.

Jeff Keith co-founder, is the inspiration for the Connecticut Challenge as well as the new Center for Survivorship.  Jeff is a 35 year cancer survivor;

The ten year lease was negotiated by Randy Vidal, SIOR of Vidal Wettenstein LLC representing the Owner's and Paul Tortora of Jones Lang LaSalle representing CT Challenge.

Legal council for the principals were David Quatrella and Raymond Rizio of Quatrella & Rizio, LLC.

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Vidal Wettenstein LLC
Sells 349 Greenwich Avenue

June, 2011, Greenwich, CT, --Vidal/Wettenstein, LLC is pleased to announce the Sale of this unique property located in one of the nation's premier shopping districts. The building currently with retail space on the grade level, is well situated amidst a collection of the most upscale national and regional tenants, including Tiffany & Co., Saks Fifth Avenue, Ralph Lauren, and many others.  The Estate of Michael Morena was represented by Attorney Joseph Auger and the buyer Jung Soon Chung was represented by Attorney Steven Russo. Randy Vidal, SIOR and Robert Lewis of Vidal Wettenstein acted as Brokers for the $2,100,000 transaction.

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Vidal/Wettenstein negotiates 8,800 square foot lease

EcoLogic Energy Solutions Leases New Space

June, 2011, Bridgeport, CT, -- It was announced today that EcoLogic Energy Solutions has relocated their distribution center to 1945 Commerce Drive, Bridgeport. The company will maintain their existing offices at Bridge Square in Westport, and use the Commerce Drive facility for warehousing and distribution of their product line of insulating material. Ecologic Energy Solutions is an environmental green company that offers spray foam insulation for residential and commercial, existing and new construction in Connecticut and New York.

The building is 8,800 square feet on the main level with a mezzanine portion on the south side of the facility. The lease is a long term venture between Ecologic and Brentwood Extension, LLC, owner of the property. Bruce Wettenstein, SIOR and Partner with Vidal/Wettenstein, represented the tenant and was the listing broker. Sam Rost of Green & Gross was counsel for the property owner.

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Vidal/Wettenstein Lists Property for Lease

TRUMBULL WAREHOUSE AVAILABLE FOR LEASE


 

May, 2011, Trumbull, CT -- Vidal/Wettenstein, LLC, a commercial real estate company based in Westport, is pleased to announce that the firm has been chosen to market for lease, the industrial and office building located at 7120 Main Street in Trumbull.  The building size is 115,000 square feet and had been originally built as the warehouse for the D. M. Read's Company.  More recently it has been used by United Healthcare for the companies' offices, warehouse and shipping facility for the firms marketing material.   

The building has interior loading docks, 20' clear height, substantial offices that are ideal for a call center, and numerous other amenities.  Due to the amount of acreage, the building can also be expanded.  Bruce Wettenstein, SIOR and Partner with Vidal/Wettenstein will be responsible for the marketing and leasing of the property.  Availability of the building is scheduled for the 4th quarter of 2011.  Mr. Wettenstein can be reached at 203-226-7101 #2

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Inside NGO to Relocate Offices in Westport

May, 2011, Westport, CT --It was announced today that InsideNGO, presently at 19 South Compo Road in Westport, has signed a five year lease and will be relocating to their new location at 1221 Post Road East also in Westport.  The company will occupy 2,230 square feet of space.  The property is managed by Investment Capital Partners, Ltd.  The building will undergo a significant renovation both inside and out.  InsideNGO will occupy the space sometime during the end of the 2nd quarter of 2011.

InsideNGO is a nonprofit membership organization of over 260 international development and relief NGOs that supports operational excellence and operational capacity-building for the international NGO community. 

Both the property owner and the tenant were represented by Bruce Wettenstein, SIOR of Vidal/Wettenstein, LLC.  Terms of the lease were not disclosed.

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Matthews Commercial & Vidal/Wettenstein Broker 34,000 SF Lease

April 2011, Waterbury CT -- It was announced today by Bruce Wettenstein, SIOR of Vidal/Wettenstein, and Ed Godin Jr. SIOR of Matthews Commercial Properties, that Forum Plastics has recently signed a long term lease for space at 105 Progress Lane in Waterbury.  The company will occupy 34,000 square feet of the 200,000 square foot facility which is located off Interstate 84. 

Forum Plastics Inc., will be utilizing the facility for their manufacturing operation presently located in Stamford. They provide high quality plastic molded parts and assemblies to a wide variety of industries. Timing for the relocation is scheduled for late June.  Forum Plastics was represented by Bruce Wettenstein SIOR of Vidal/Wettenstein, LLC in Westport.  Cornerstone Realty, owner of the building was represented by Ed Godin, SIOR of Matthews Commercial.

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Former Key Lincoln Mercury Property Sells

April 2011, Bridgeport, CT -- It was announced today by Bruce Wettenstein, SIOR & Partner with Vidal/Wettenstein, that the former Key Lincoln Mercury Dealership property located at 425 North Avenue in Bridgeport, has been sold to DeMattia Companies.  The property is 23,000 square feet of retail showroom, warehouse and automotive repair area, situated on approximately 1.5 acres.  The building will be partially used as a warehouse location for one of the DeMattia business' leaving approximately 7500-10,000 of vacant available space.  Vidal/Wettenstein had also represented the Merriam Family in the sale of two land parcels adjacent to the property.  Terms of the sale were not disclosed.

Vidal/Wettenstein, LLC was the listing real estate firm and represented the seller.  Arnold Peck represented DeMattia Companies.  Legal counsel for the seller was Steven Berman, Partner with Rogin, Nassau, LLC of Hartford.  Counsel for the purchaser was Ray Rizio, Partner with Quatrella & Rizio, Fairfield.

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Dirty Laundry, LLC Leases Space at Testo's Diamond Plaza

Sirran Communications Relocates to 120 Post Road West, Westport

March 2011, Westport, CT--Robert Lewis, Partner at Vidal Wettenstein, LLC is pleased to announce the following lease transactions: 

Dirty Laundry, LLC has leased 2,112 sq. ft. of retail space at Testo's Diamond Plaza, located at 267 Main Avenue in Norwalk, CT.  The Tenant has signed an initial ten year lease term with several renewal options, and will be opening a state of the art Laundromat facility at the site, scheduled to open this Spring.  Robert Lewis and Randy Vidal, SIOR, both of Vidal Wettenstein, were the sole brokers in the transaction. 

Sirran Communications, Inc. has leased 2,680+/- sq. ft. of office space at Old Hill Offices, located at 120 Post Road West in Westport, CT.  The Tenant is relocating from another Westport location in order to expand their operations.  Robert Lewis represented Sirran Communications, while David Fugitt, SIOR, also partner at Vidal Wettenstein, represented the Landlord, Old Hill Offices, LLC in this transaction.

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Caselli Commercial Properties & Vidal/Wettenstein Co-Broke lease


AUTO GLASS OF NEW ENGLAND TO RELOCATE

March, 2011, Stratford, CT -- It was announced today that Auto Glass of New England located in Stratford, has signed a lease to relocate to a new location at 55 Lupes Drive in Stratford. The company will occupy 5,500 square feet of space for their franchise business. Auto Glass of New England is a family owned business with certified technicians who are experts in repairing windshields and replacing auto glass. The company has over 20 years experience and accept all auto insurance coverage. Auto Glass of New England is on call 24/7 and provides service to the entire Connecticut region.

The property owner, Mad Realty Associates was represented by Ted Hoyt of Caselli Commercial Properties. Auto Glass was represented by Bruce Wettenstein, SIOR of Vidal/Wettenstein, LLC. Terms of the lease were not disclosed.

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Vidal/Wettenstein LLC & Baldwin Pearson Company negotiate lease

NORWALK MARINE CONTRACTORS RELOCATES TO STRATFORD


January 2011, Stratford, CT--It was announced today that Norwalk Marine Contractors (NMC), presently located on Harbor Avenue in Norwalk, will be relocating to a new location on Access Road in Stratford. The move will take place during the first quarter of 2011. The business has been a long term occupant in the City of Norwalk dating back to 1975. NMC is owned by Skip Gardella whose family name is synonymous with the marine industry. Olson Steel which incorporated in 1944, has been at the Access Road site in Stratford since 1969. Olson Steel will continue to occupy a portion of the shop space and office area. The lease with NMC is a long term commitment with an option to purchase the property by Norwalk Marine Contractors.

The terms and conditions of the transaction were negotiated by George Shawah Jr., of Baldwin Pearson Company and Bruce Wettenstein, SIOR of Vidal/Wettenstein, LLC. Both Vidal/Wettenstein and Baldwin Pearson have members of the Society of Industrial and Office Realtors (SIOR). Counsel for Olson Steel was Donal Collimore of Fairfield and for the tenant, John Bove of Norwalk.
 

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Veterinary Oncology and Hematology Center Relocates in Norwalk, CT

January 2011, Norwalk, CT --Randy Vidal, SIOR of Vidal Wettenstein, LLC has announced the successful leasing of 7,950 sq. ft. of space at129 Glover Avenue in Norwalk, CT to The Veterinary Oncology and Hematology Center (VOHC).  VOHC is a specialized veterinary practice dedicated to the diagnosis and treatment of cancer in animals.  Their staff includes nationally recognized oncologists, led by Dr. Gerald Post, DACVIM (Oncology). VOHC will be relocating from their current site in Norwalk once they have completed construction of their new state of the art facility later this year. 

 

Randy Vidal, SIOR, along with Robert Lewis, Partner at Vidal Wettenstein, LLC negotiated the 15 year lease. The Veterinary Oncology and Hematology Center is the only practice offering this scope of services in the entire state of Connecticut.

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Monroe Property Sells

January 2011, Monroe, CT -- It was announced today that JPC Enterprises, presently located in Newtown, has purchased an industrial property at 127 Enterprise Drive in Monroe.  The building will be occupied by the purchaser.  The former owner will remain on Enterprise Drive at a different property.  87 Enterprise Drive is 6,000 square feet with a 1,500 square foot unfinished office mezzanine, and was constructed on 3 acres.  The sales price was $850,000 or $141.67 per square foot.  Bruce Wettenstein, SIOR & Partner with Vidal/Wettenstein was the listing broker and represented JPC Enterprises.  Counsel for the seller was Stanley Goldstein of Palmesi, Kaufman, Goldstein & Petrucelli.  Counsel for the purchaser was Christopher Donahue of Riefberg, Smart, Donohue & NeJames of Danbury.

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