EVENTS HFF COMPLETES $30.25M SALE IN PLAINVILLE
AFFORDABLE LENDING SUMMIT Connecticut Mortgage Bankers Association March 9, 2017 Radisson Cromwell, 100 Berlin Road, Cromwell , CT Who should attend: Mortgage banking professionals More information: www.cmba.orgt
CABLE COMPANY EYES EXPANSION IN NORTH HAVEN
Holliday Fenoglio Fowler L.P. (HFF) recently closed the $30.25 million sale of Medical Arts Center at The Hartford HealthCare Cancer Institute. HFF marketed the 72,022-square-foot property exclusively on behalf of the seller, Tomasso Group, and procured the buyer, a publicly-traded medical office REIT. Tomasso Group affiliate, Tunxis Management Co., will continue to manage the property post-closing. Medical Arts Center, located at 201 North Mountain Road, in Plainville, is a joint venture between the hospital and Memorial Sloan Kettering. The center shares a lobby with the cancer center, which leases the entire first floor of the building. At the time of the sale, the Medical Arts Center was 95-percent leased to Hartford Healthcare, Orthopedic Associates of Hartford and Hartford Healthcare-employed physicians. The center offers a range of services, including cancer care, a full modality imaging center, breast surgery, colorectal, vascular, podiatric surgery, urology, plastic and reconstructive surgery, neurosurgery and physical therapy. Michael Goldenberg, president of Health Realty Advisors, consulted in the sale. The HFF investment sales team representing the seller was led by Ben Appel, Phil Mahler, Evan Kovac and Doug Rodio.
A fiber optics cable company purchased 2 acres of land in North Haven for $700,000. Mason Holdings LLC sold the 9,800-square-foot property at 66 Leonardo Drive. The buyers, Scott Cavallaro and Jason Brenner, who operate the cable company, may use the new space for future expansion, according to a statement from Pearce Real Estate. Pearce Real Estate represented the seller, and Margaret Bennett of Wallingford-based Margaret Bennett Realty represented the buyers.
CITING DECLINING FOOT TRAFFIC, WEBSTER TO SHUTTER EIGHT BRANCHES THIS SPRING Webster Bank is closing eight branches across the Northeast in an effort to optimize its branch network as consumers increasingly move to self-service channels online and on mobile devices. “We continue to evaluate our network to ensure that our banking centers efficiently balance our physical and digital banking channels in response to rapidly changing customer expectations,” David Miree, executive vice president, consumer deposits and investments, said in a statement. “At the same time, we concurrently invest in high-opportunity markets and modernize the overall banking experience. Banking centers are, and will continue to be, the cornerstone of our service culture, which is based on relationship development.” The branches Webster is closing are in areas with a median distance of less than two miles to the next Webster location, the bank said. Beginning on April 7, the bank will close branches in
Scarsdale, New York; Danbury, Manchester and Wethersfield, Connecticut; East Greenwich, Cranston and Warwick, Rhode Island; and New Bedford, Massachusetts. The bank said its overall teller transactions declined nearly 40 percent from 2010 to 2016. Webster also said that 47 percent of its checking account households are now served by mobile banking, and self-service deposits now represent 40 percent of all deposits. All bankers at the affected banking centers will have the opportunity to be reassigned within Webster.
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