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August 4, 2014 Deal Watch

Work underway on Simsbury’s Eastpointe At Dorset apts.

Rendering | Contributed Sketch of one of seven Eastpointe buildings that will house 168 apartments in Simsbury.

Construction has begun on the 168-unit apartment community in Simsbury's Dorset Crossing mixed-use development off Hopmeadow Street.

Deal Watch first reported last April that Eastpointe At Dorset Crossing was to be ensconced on 10 ½ acres inside developer Tony Giorgio and Karl Krapek's ever-expanding Dorset Crossing development.

Aside from Eastpointe, 48 units of housing for people with multiple sclerosis or other special needs is under construction, joining the 15,000-square-foot medical office building already in Dorset Crossing.

Fairfield developer William R. Finger, who previously has done mostly retail development in West Haven and Norwalk but with his partners is eyeing more new apartments in Hartford and New Haven counties, recently offered more insight into his Simsbury project.

The first units, ranging from 600-square-foot studios to 750- to 850-square-foot one-bedroom and 1,150- to 1,250-square-foot two-bedroom units, targeted at “young knowledge-workers and empty nesters'' will be ready for lease and occupancy, starting in December or in early 2015, Finger said. Rents likely will range from $1,300 to $2,000 a month.

A 3,500-square-foot clubhouse with indoor fitness room and outdoor pool and lounge area, featuring seating, grills and flatscreen TVs, will join amenities such as a dog park, a bicycle-repair station, and 80 enclosed garages available for an extra fee to residents, Finger said.

Contractor is Covington Construction LLC, of St. Louis, Mo. Gate 17 Architecture LLC of Bryn Mawr, Pa., is designer.

Commerce Bank & Trust, of Worcester, Mass., is providing construction financing, Finger said. Blue Vista Capital Management is pumping an unspecified sum of equity into the Simsbury project.

Meantime, Finger said Eastpointe LLC has submitted to Old Saybrook's planning and zoning commission plans for 186 apartments next door to the town's Amtrak station on Boston Post Road, to be called Eastpointe At Saybrook.

• • •

Joining Tech renews

Welding specialist Joining Technologies Inc. renewed its lease of a 10,517-square-foot industrial building in East Granby.

In renewing, the advanced laser cladding and ultra-high precision welding specialist will remain in the space at 17 Kripes Road that it has occupied since 2010. Landlord is 99 Rainbow, 7, 11 & 17 Kripes Road LLC.

Joining Technologies headquarters is less than a half-mile away, at 17 Connecticut South Drive.

Sentry Commercial represented Joining Technologies in this lease renewal.

• • •

NY firm’s CT buy

A Long Island, N.Y., information-technology vendor has paid $980,000 for a 9,500-square-foot Glastonbury flex-warehouse to house its Connecticut operations.

The Ergonomic Group bought the building on 0.92 acres at 65 Kreiger Lane from R.A.D.D. Co. of Glastonbury, according to Century 21 Clemens & Sons, who procured and represented the buyer.

OR&L Commercial represented the seller.

EGI provides IT services to telecom, media, government, education, financial and business firms.

• • •

Granite City buys

The Granite City has purchased for $290,000 a high-bay industrial building in East Hartford to expand its countertop production and installation operations.

East Windsor-based Granite City bought the 29,900-square-foot facility at 22 Rumsey Road from New Boston EH LLC.

Hart Group International, a collaboration between brokers Sentry Commercial and Hart Corp., of Southampton, Pa., represented buyer and seller.

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Greg Seay is the Hartford Business Journal News Editor.

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