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June 26, 2020 REAL ESTATE ROUNDUP

CT housing permits rebound in May; NH leads pack

In May 2020, 104 Connecticut municipalities authorized 535 new housing units — more than double the number of permits issued the previous month (212 statewide in April) or during the same month a year ago (260 in May 2019), before anyone had ever heard of the coronavirus. 

The housing-permit figures, compiled by the state’s Department of Economic & Community Development (DECD) based on data from the U.S. Bureau of the Census, illustrate that May 2020 saw the highest level of new housing activity for that month in five years, since the 740 new units approved in May 2015.

Driven by a surge in multi-unit housing construction, New Haven approved the greatest number of new units (307) during the month. The runner-up statewide was Norwich, which green-lighted 60 new permits last month.

In the south-central region, only two municipalities — Milford (11) and Norwalk (10) — posted double figures for the month.

The monthly figures reflect the number of permits for new housing, both single-family and multi-unit, reported by 104 municipalities (of 169 total) to DECD. 

TRANSACTIONS

OR&L Commercial LLC has brokered two office leases at 469 West Main Street, Branford.

Retirement and wealth-management firm Wells Thomas LLC has leased 3,750 square feet of second-floor office space at the site. Relocating from East Main Street in Branford, the firm provides consulting and administrative services for more than 900 retirement plans including 401(k), profit sharing, prevailing wage, 403(b), 457, cash balance and traditional benefit plans.

469 West Main Street, Branford.

A second office suite of 4,350 square feet was leased to More To Say LLC, a pediatric therapy and wellness practice. More To Say provides evaluation and treatment of speech, language, literacy, feeding, fluency, sensory, fine motor and gross motor disorders as well as enrichment programs for children of all abilities. It uses holistic, naturalistic, child-centered approaches to build relationships with their clients’ families.

Building owner 469 West Main Street LLC of Branford last year expanded the building, grounds and all parking lot areas. Built in 1986, the newly upgraded facility, now known as Branford Hill Plaza, includes an expanded full second story of 8,100 square feet, accessed via two new lobby areas and a newly installed elevator. The company’s principal is Alex Vigliotti of 140 North Branford Road, Branford.

Richard Guralnick, CCIM and Toby Brimberg of OR&L Commercial in Branford represented the landlord/owner and the tenants in both lease transactions.

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