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January 30, 2017 Deal Watch

Mooney family reaps $1.25M from E. Hfd. property sale

PHOTO | Contributed 225 Prospect St., East Hartford.
PHOTO | Contributed The office-warehouse at 50 Sebethe Drive, Cromwell.
PHOTO | Contributed The self-storage facilities at 50 Sebethe Drive, Cromwell.
PHOTO | Contributed 23 Sanrico Drive, Manchester.
PHOTO | Contributed 1210 Mill St., Berlin.

An East Hartford industrial property that for more than a century housed a local family's freight-forwarding and household-moving operations has sold for $1.25 million, brokers say.

Teds Fourth LLC acquired the 155,890-square-foot facility on four acres at 225 Prospect St. from The Mooney Family LLC, according to sole broker Sentry Commercial.

In 2013, Hartford Despatch, founded in 1906 as a trucking company that subsequent owner E. B. Mooney later evolved into moving household furnishings, split off its household-moving business from its on-site storage operations.

Two more generations of Mooneys have run the business since.

$2.1M Cromwell sale

A Torrington commercial contractor and building-products vendor recently purchased for $2.1 million a leased Cromwell office-warehouse and companion self-storage facility as investments, brokers say.

O&G Industries bought the 28,800- square-foot warehouse/office building and the 69-unit, 10,000-square-foot Cromwell Secure Self-Storage, both at 50 Sebethe Drive, from Sebethe Drive Partners LLC, said seller's broker O,R&L Commercial LLC.

$795K Manchester listing

A 13,034-square-foot Manchester industrial-warehouse building is on the market at $795,000, brokers say.

The 29-year-old building, with 2,300 square feet of offices, two dock doors and one drive-in door, sits on 1.22 acres at 23 Sanrico Drive, according to listing broker Sentry Commercial.

Last fall, a 41,000-square-foot industrial building at 118 Sanrico Drive that swimming-pool equipment retailer NAMCO used as a warehouse drew a $1.375 million sale price from buyer Sanrico RP Realty LLP.

$275K Berlin sale

A Southington vendor that provides a safe environment for coordinating educational, rehabilitative, and supportive services to healthcare professionals has acquired a Berlin office building for $275,000, brokers say.

Health, Assistance, Intervention, Education Network for Connecticut Health Professionals Inc. bought the 2,976-square-foot building at 1210 Mill St. in the town's East Berlin section from seller 1210 Mill Street LLC. 

Sentry Commercial represented the seller and CBRE-New England represented the buyer in this transaction.

Favrah picks designer

Farmington architects Don Hammerberg Associates has been hired to design two buildings for the nonprofit Favarh's Canton campus.

The $3.5 million project involves design of a 7,500- square-foot day-program and transportation hub at 100 Commerce Drive. It also requires renovation of an adjacent 12,500-square-foot warehouse at 150 Commerce into classrooms, recreation space and a teaching kitchen, said Favarh Executive Director Stephen E. Morris.

Both buildings will connect with Favarh's headquarters at 225 Commerce, and another day-program facility on Canton Springs Road. Favarh supports people with intellectual and developmental disabilities.

Pending land-use approvals from the town, construction is expected to start this summer, with completion in late 2018.

Morris noted this project is separate from a Favarh proposal recently approved by the town for 40 units of affordable housing, including 10 units specifically designed for Favarh participants. The site for these units is also on Commerce Drive.

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Gregory Seay is the Hartford Business Journal News Editor.

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