February 8, 2019
REAL ESTATE ROUNDUP

CT housing starts decline in November

File Photo
File Photo
PHOTO | Contributed
20 Research Parkway, Old Saybrook
Photo | Contributed
912 Old Colony Rd., Meriden

In November 2018, 104 Connecticut municipalities authorized 255 new housing units.

This figure represented a 22.9-percent decline from the 331 units authorized in October. It also reflected a 9.3-percent decline from November 2017.

The most active community in south-central Connecticut for new housing starts was Milford, which approved 14 new units in November. Also, East Lyme green-lighted 10 new housing units for the month, while Oxford approved eight new units.

The housing permit figures are compiled by the state's Department of Economic & Community Development using data supplied by the U.S. Bureau of the Census.

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Press/Cuozzo completes 2-building sale

Stephen Press, SIOR, of Press/Cuozzo Realtors has announced the recent sale of two industrial buildings on 1.54 acres at 912 Old Colony Rd., Meriden.

The transaction closed at $443,000. The two buildings totaled 18,200 square feet and were partially occupied at the time of the sale.

Joel Nesson of Press/Cuozzo represented the seller, BAM LLC, while Press represented the buyer, DFC of 912 LLC.

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Guilford Savings Bank has underwritten $5.6 million in financing to Mill Meadow Development LLC for six fully leased flex office buildings in Old Saybrook. The buildings are at 2, 4 and 6 Business Park Rd., 5 and 20 Research Pkwy. and 151 Mill Rock Rd. East within the Old Saybrook Business Park, just off the I-95 Interchange at Exit 67.

Mill Meadow Development is a single-asset limited liability company owned by Kevin C. Geenty of the Geenty Group, Realtors In Branford. Geenty founded the full-service commercial, business and industrial brokerage firm in 1986.

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