The Branford building that houses 454 Life Sciences Corp. has been sold for $4.1 million and the new landlord plans a multimillion-dollar expansion of the property.
Alliance Commercial Partners sold the property at 50 East Industrial Road, just off Interstate 95, to Ash Realty Associates, a New York family run private-equity firm that is part of Hercman Properties.
Ash Realty paid $74 a square foot for the 55,400-square-foot building whose sole tenant is 454 Life Sciences, a unit of Swiss health care giant Hoffmann LaRoche Inc. The building houses 454 Life Sciences’ research and development operations.
Ash plans to invest more than $5 million in capital improvements to the property.
CB Richard Ellis — N.E. Partners LP said it represented the seller and coordinated with its Long Island office to locate the buyer.
Â
Branford Warehouse Sells
Also in Branford, Vigliotti Construction Co. bought a 10,000-square-foot warehouse on Route 139 for $800,000 to serve as its headquarters.
The building is on 1.5 acres at 140 North Branford Road.
Vigliotti plans to renovate the structure before relocating its corporate offices from 1171 Main St.
Attorneys Benjamin Trachten and Murray Trachten of New Haven represented the seller, GHM Inc., in the deal. Attorney Al Ippolito represented Vigliotti.
The Geenty Group, Realtors in Branford assisted buyer and seller in the transaction.
Separately, Geenty Group represented tenant and landlord in the long-term lease of 840 square feet of office space at 2415 Boston Post Road in Guilford.
Independent financial advisor McCauley Investment Services is the tenant. Mariner Properties LLC of Guilford is the landlord.
Â
More Deals
In other real estate news, Office supply retailer Staples Inc. has extended the lease on its Plainfield regional distribution center.
The Framingham, Mass. retailer since June 2002 has occupied the 530,500-square-foot facility on 106 acres at 85 Moosup Road, in the shadow of Interstate 395.
Hackman Capital Partners Inc. manages the property on behalf of its joint venture co-owners, Calare Properties Inc. and KBS Real Estate Investment Trust I.
Pro Dental Billing has subleased 3,500 square feet at 21 Commerce Drive in North Branford.
Pro Dental, provider of billing services to dental offices regionally and nationally, is moving to North Branford from Guilford due to an expanding client base, according to The Geenty Group, Realtors, which brokered the lease.
Streamline Press LLC sublet the space, according to The Geenty Group, Realtors, which brokered the lease. W.E. Hitchcock is the master landlord.
In construction news, Borghesi Building & Engineering Co. in Torrington has been hired to build a self-storage and contractor storage facility in Meriden.
The 8,400-square-foot structure at 1068 North Colony Road will be ready by spring.
Peter and Dave Novicelli are the property owners.
Â
Â
Got real estate news? Deal Watch wants to hear from you. E-mail your information to gseay@HartfordBusiness.com.
Greg Seay is the Hartford Business Journal Web editor.
