John Cafasso, a principal, and Nicholas Morizio, president, of Colliers’ Hartford office have been in the middle of some major sale and lease deals in the state over the past year.
Cafasso brokered the $22.7 million, off-market sale of 1700 Asylum Ave., in West Hartford. The former UConn branch campus will be redeveloped into The Residences at Heritage Park, a 322-unit, mixed-income residential community.
The deal will not only reactivate a dormant university campus, but also integrate community amenities and public green space into the redevelopment.
He also helped broker the $5.5 million sale of 45 Frontage Road, in North Stonington, where General Dynamics Electric Boat plans to build a 480,000-square-foot logistics warehouse. Cafasso represented the seller, the Mashantucket Pequot Tribal Nation, in what was a two-year marketing effort.
Over the past year, Cafasso was involved in property sales totaling over $30 million, 70 acres and 800,000 square feet of space.
Activity has been strongest in industrial, redevelopment and multifamily land, Cafasso said, and there has been a noticeable uptick in retail pad sites and flex properties that can accommodate light manufacturing or logistics.
Morizio has helped broker deals involving a combined 1.2 million square feet of space, including several significant leases for manufacturer Trumpf Inc. and Tire Rack.