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Archived Press Releases
- 2003
Vidal/Wettenstein and CB Richard Ellis Co-Broke Sale
December 2003, Shelton, CT --
Randy Vidal, SIOR with
Vidal/Wettenstein, LLC announced SAH Investments, LLC sold the building
located at 79 Bridgeport Avenue in Shelton to John DiMatteo d/b/a DiMatteo
Insurance Service Center . The company will be moving from Trumbull and
will occupy the entire building. The building is 5,000 square feet and is
located in the desirable Shelton area minutes from Route 8. It was
purchased for $667,000.00.
Randy Vidal, SIOR represented the seller and Sean McDonnell with CB
Richard Ellis, represented the purchaser. Vidal / Wettenstein LLC
specializes in the sale and leasing of industrial and office properties as
well as tenant representation. Legal counsel for the seller was Thomas J.
Ryan, Esq. located in Norwalk, and counsel for the buyer was Raymond Rizio
with Quatrella & Rizio of Fairfield.
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Fairfield County
Millwork Purchases Industrial Building
Bethany, CT (December 2003) --
Scott Zakos, an
associate of Vidal/Wettenstein, LLC in Westport represented the buyer,
Fairfield County Millwork in the sale of a commercial/industrial building
at 20 Sargent Drive, Bethany consisting of 20,100 square feet at a sale
price of $750,000. Fairfield County Millwork is an established custom
millwork company currently based in Bridgeport, CT and has served the
Northeast region of U.S.A. for over 20 years, bringing the ultimate in
high-end residential & commercial casework to the area. According to Mr.
John Ianiri, Owner, "the move offers us room to expand from our current
12,000 SF location and move closer to key employees." David Roetting &
Paul Roy, senior associates of H. Pearce Company in North Haven
represented the seller in the transaction. Legal counsel for the seller
was James Nugent, Esq. of Harlow, Adams & Friedman, PC located in
Milford. The company plans to be up and running mid January of 2004.
Peter Ottomano, Esq. of Westport was counsel for the buyer.
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Pullman
& Comley Lease Office Space
Westport, CT
(September 2003) -- It was announced that the law firm of
Pullman & Comley, LLC has taken new office space in Westport,
Connecticut. The firm has locations throughout Connecticut and will be
relocating their Southport office to 253 Post Road West. Terms of the
lease were not disclosed other than the square footage being 6,500 square
feet and the length of these being six years.
Pullman & Comley,
LLC has been in the legal practice of law since 1919.
Their corporate offices
are in Bridgeport and other locations throughout the state are in the
Simsbury, New haven, Hartford, Stamford and Westport.
The firm is organized
into seven key practices areas (Business Enterprises, Health Care, Labor
& Employment, Litigation, Municipal Law & Finance, Real Estate and
Trusts & Estates) and various specialized practice sections that
provide depth of the experience and also the flexibility to regroup for
customized, solution-oriented service.
According to Bruce
Wettenstein, SIOR and Partner with Vidal / Wettenstein LLC, "the space
was a perfect match for the firm due to the fact it had been formerly
occupied by another law firm." Pullman
& Comley was represented by Bruce Wettenstein, SIOR of Vidal/Wettenstein,
and the owner, James Randel and Roger Liefer were represented by DJ Smith
of Rand Real Estate Services.
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Shelton
Chooses Brokerage Firm to Market "The Slab"
Shelton, CT (July 2003) --
Jim Ryan, President of the Shelton Economic Development
Corporation announced today
it has chosen Vidal/Wettenstein to market for sale, the property in
downtown Shelton known as the Slab. The
land consists of 5.5 acres and was once home to the 475,000 square foot
Sponge Rubber Products Company that was destroyed by fire in March, 1975. The City became the owner of the site and have prepared it
for marketing.
Shelton is searching for a user to construct a single or
multi building complex that will be utilized for light industrial, office,
and R & D use. According
to Bruce Wettenstein, SIOR and partner with Vidal/Wettenstein, "There
are some restrictions on the site as to what can be developed.
Our goal and objective is to procure a business that will hire
employees to work in the downtown area."
Wettenstein said the number of total employees the town is trying
to achieve for the site is 300. Residential,
retail and warehousing projects will not be allowed due to the employee
issue and State requirements. Light
manufacturing, assembly, or offices are possibilities.
The property sits on the bank of the Housatonic River and
is visible from the Route 8 overpass.
There is a greenway adjoining the site for passive recreation along
the river. The value of the site will be predicated on the actual use.
Shelton has a procedure process which has been streamlined
to make the transfer relatively easy for developers and users.
The Shelton Economic Development Corporation, planning and zoning,
local regulatory organizations, Board of Aldermen and the State of
Connecticut Department of Economic Development all play a role in the
approval process. For
information on the project, please contact Bruce Wettenstein, SIOR at
Vidal/Wettenstein, LLC at 203-226-7101 or email at bruce@vidalwettenstein.com.
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Vidal/Wettenstein,
LLC Represents Buyer, CTI
Orange, CT -
Bruce Wettenstein, SIOR of Vidal/Wettenstein, LLC in Westport represented
the buyer, CTI in the sale of a commercial/industrial building consisting
of 22,000 sf for a sale price of $1.1 million. John Bergin, senior vice
president of George J. Smith & Son Real Estate in Milford represented
the seller in the transaction.
CTI industries, INC. is a service company
that specializes in stream condenser repair and heat exchanger repair.
Established in 1975, CTI developed a tube repair technique that today is
recognized as the most widely used cost effective system in the world.
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Vidal/Wettenstein
and Colonial Realty Co-Broke Sale
Bridgeport,
CT (June
2003) -- Bruce Wettenstein,
SIOR and partner with Vidal/Wettenstein, LLC announced today that 640
Clinton Avenue has been sold to a local partnership in Bridgeport.
The space will be used as offices by an architectural and
engineering firm.
The building had been formerly owned and occupied by the Brody and
Ober law firm, then leased to the American
Red Cross, and Woodfield Family Services.
The sales price was $210,000.00.
The Clinton Avenue area is a continuation of Brooklawn Avenue and
is dotted with many beautiful homes presently occupied by professional
business' such as lawyers, physicians, architects, appraisals to name a
few. Brody
and Ober's Managing Partner, Bill Britt, said the building had served
their use for many years until they out grew it and relocated to the
Southport area of Fairfield.
David Gorbach, SIOR and partner with Colonial Realty represented
the buyer, and Bruce Wettenstein, SIOR represented the seller.
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Bridgeport
Building Sold
Bridgeport, CT (May
5, 2003) -- Bruce
Wettenstein, SIOR and partner with Vidal/Wettenstein, LLC announced today
that the former Precision Arc
Building on Radel Street has been sold to Pavement Maintenance Systems.
The building is 10,000 square feet and will be used by the company
for offices and equipment maintenance and storage.
According to Bruce Wettenstein, SIOR, the sales price was
$370,000.00. The location serves the company well due to the access to the
facility which is very close to I-95.
Pavement Maintenance Systems, LLC is a full service pavement
maintenance company providing sweeping services for parking lots,
garages, roads, and construction debris.
The company services both commercial and municipal customers.
Bruce Wettenstein, SIOR was the listing broker and negotiated the
sale for both parties.
Vidal / Wettenstein LLC
specializes in the sale and leasing of industrial and office properties as
well as tenant and owner representation.
Legal counsel for the seller was James O'Rourke of Stratford.
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NORESCO
Signs On as First Tenant in Newly Renovated Suburban Office Property
Shelton,
CT (April 7, 2003) --
In a transaction the marks the revitalization of an office property
recently left vacant by the bankruptcy of its two major tenants, Vidal/Wettenstein,
LLC has arranged the first lease at 8 Progress Drive in Shelton, CT.
NORESCO, a leading energy service company, has signed a five-year,
6,132-square-foot lease at the building.
Bruce
Wettenstein, SIOR, of Vidal/Wettenstein, LLC, located in Westport, CT,
represented NORESCO in the transaction. The CBRE team of Sean
Cahill, Sean McDonnell and Michael Dillon, the exclusive agents for 8
Progress Drive, represented the ownership, Winstanley Enterprises of
Concord, Massachusetts in the negotiations.
NORESCO,
which is headquartered in Westborough, MA, is relocating one of its sales
office locations from its previous address at 350 Fairfield Avenue in
Bridgeport, CT to 8 Progress Dr. Winstanley Enterprises instituted a major
capital improvement and renovation program at the 63,000-square-foot
property while it was vacant, installing a completely new roof and HVAC
system, refinishing the lobby and upgrading all of the lavatory
facilities.
"8
Progress Drive is a wonderful property that offers tenants convenience and
top quality amenities while still providing a quiet, suburban setting,"
said Mike Dillon of CBRE. "We are confident that NORESCO is the first of
many new tenants who will find the space they are looking for in this building."
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