Branford development site goes to market
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A 120-acre parcel in Branford that was once home to Bittersweet Farm seems poised for development, as the property’s owners are selling the land.
Belfonti Companies and A. Secondino and Son announced this week they have entered into an exclusive listing agreement with commercial real estate firm Cushman & Wakefield of Connecticut Inc. to sell the site.
The companies indicated they expect it will be sold for the development of biotech/pharmaceutical offices and laboratories, warehouse/logistics space, distribution centers, or industrial/manufacturing facilities.
The Belfonti-Secondino partnership purchased the property originally from the CuraGen Corporation, a biopharmaceutical development company, in 2005. The Secretary of State’s office lists the current property owner as Bittersweet Partners LLC, with Michael Belfonti listed as principal.
"Our partnership believes that now is the optimum time to sell, especially given the current high demand for last mile distribution centers and high-bay warehouses," said Al Secondino, president of A. Secondino & Son.
The property is zoned for industrial use and borders Interstate 95 and Route 1, giving it quick highway access.
Michael Belfonti, founder and CEO of Belfonti Companies of Hamden, noted that the site is within minutes from Yale University’s downtown New Haven campus.
New Haven-area biopharmaceutical companies have been experiencing growth in recent years, and have needed more space to accommodate that growth.
"Bittersweet is one of the last large parcels of land on I-95 which can support such growth," Belfonti said.
Matthew Torrance, a Stamford-based broker with Cushman & Wakefield, said demand for developable acreage along I-95 “has never been higher.”
“We have seen an enormous increase in the demand for land for modern warehouses and last mile distribution centers,” Torrance said. “This is an asset class that continues to grow exponentially. We are excited to be partnering with Belfonti and Secondino in marketing the Branford site and we expect to quickly receive multiple offers for this prime property."
The Army back in 2014 bought a chunk of the former farm site to use for its Army Reserve Center, now at 777 E. Main St.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
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