Eric Amodio, CCIM of Amodio & Co, successfully represented both landlord and tenant in the lease-up of 4,060 sf at 920 West Main Street, New Britain. The landlord recently completed a full renovation of the property for KINGZ Car Wash and welcomes the opportunity for ideal co-tenancy with the addition of Tire Guys in the front retail space. The tenant will occupy 4,060 sf of retail and showroom space, including 4-automotive service bays. Tire Guys, located on Tolland Street in East Hartford sells and installs a full selection of automotive tires and wheels, in addition to other aftermarket auto components. The tenant plans build-out and occupancy starting February 2024.
Since 1919, Amodio & Co has owned, developed, & brokered nearly every property type, bringing extensive experience to our clients. We offer creative solutions to ensure your deal happens and is done right. Put the power of a CCIM globally designated professional on your team and let our award-winning firm assist in navigating today’s CRE market.
Amodio & Co has been exclusively retained to sell 745 Burnside Avenue, East Hartford, CT. Featuring 17,249 SF of currently educational use situated on 2.53 acres corner parcel. The property is equally suitable for a user or developer. Paved & striped parking for 60 cars.
Frank Amodio, Sr, CCIM and Eric Amodio, CCIM of New Britain based Amodio & Co Real Estate successfully represented both parties in the sale of 30 Bank Street, New Britain, CT.
The 26,324 sf 3-story office building was built in 1968 and most recently served as the headquarters of the Connecticut Bar Association. The New York based buyers paid $900,000 ($34/sf) and will begin the transformation into 32 market rate residential apartments, complete with amenities; named “The Dream”.
Amodio & Co is assisting the Seller in their relocation to a new leased space.
Renderings courtesy of the buyers:
Since 1919, Amodio & Co has owned, developed, & brokered nearly every property type, bringing extensive experience to our clients. We offer creative solutions to ensure your deal happens and is done right. Put the power of a CCIM globally designated professional on your team and let our award-winning firm assist in navigating today’s CRE market.
20 Gorham Avenue is a four-building property with over 27,637 square feet of mixed-use space across three lots in Hamden, Connecticut.
The former Paier College of Art campus includes classrooms, offices, studios, an auditorium, and a library, with T5 zoning, allowing higher-density mixed-use buildings that accommodate retail, offices, rowhouses, and apartments. The seller will provide an easement for additional parking from adjacent parcels, making the total surface parking 60 spaces. The three-story property is ideal for an owner/user or an investor looking for a redevelopment opportunity.
The former campus is close to higher education institutions such as Yale, Southern Connecticut State University, and Albertus Magnus College. The property is within walking distance of Putnam Plaza, Chimney Square, and The Farmington Canal Heritage Trail.
20 Gorham Ave is drivable to cultural resources like Yale’s Art Gallery, museums, libraries, and theatres, in under 15 minutes. Hamden is a verdant city north of New Haven. This charming city is in a lush, mountainous setting where outdoor recreation abounds. It has many shopping centers, office complexes, and well-populated residential areas.
20 Gorham Avenue sits in a growing market, making it an excellent redevelopment opportunity for investors.
Property tours are available by appointment only. Please contact the broker to schedule. Listed by Frank Amodio with Amodio & Co. Real Estate, CT # REB.0756053.
The landscape of traditional office buildings in the United States has been undergoing significant changes in recent years. Factors such as technological advancements, shifting work patterns, and urbanization have contributed to the transformation of office spaces. As a result, many vacant office buildings are being converted into residential apartments. This report will discuss the trends affecting the use of traditional office buildings and highlight several conversion projects in the USA.
Trends Affecting Traditional Office Buildings
1. Remote Work and Flexible Work Arrangements
The rise of remote work and flexible work arrangements has led to a decrease in demand for traditional office spaces. Companies are increasingly allowing employees to work from home or other remote locations, reducing the need for large office spaces. This trend has been accelerated by the COVID-19 pandemic, which forced many businesses to adopt remote work policies.
2. Co-working Spaces
The popularity of co-working spaces has also contributed to the decline in demand for traditional office buildings. These shared workspaces offer a more flexible and cost-effective solution for businesses and freelancers, allowing them to rent desks or offices on a short-term basis. This has led to a decrease in the number of long-term leases signed for traditional office spaces.
3. Urbanization and Mixed-Use Developments
As more people move to urban areas, there is a growing demand for mixed-use developments that combine residential, commercial, and retail spaces. This trend has led to a decrease in the construction of standalone office buildings, as developers opt for more versatile and integrated spaces.
Conversion Projects: Turning Vacant Office Buildings into Residential Apartments
1. The Arcade Building, St. Louis, Missouri
The Arcade Building, a historic 16-story office building in downtown St. Louis, was converted into a mixed-use development featuring 282 residential units and 80,000 square feet of commercial space. The project, completed in 2016, aimed to revitalize the area and attract new residents to the city’s central business district.
2. One Wall Street, New York City, New York
One Wall Street, a 50-story Art Deco office building in Manhattan’s Financial District, is currently being converted into a luxury residential building with 566 apartments. The project, expected to be completed in 2022, will also include 95,000 square feet of retail space and a 74,000-square-foot Whole Foods Market.
3. The Old Chicago Main Post Office, Chicago, Illinois
The Old Chicago Main Post Office, a massive 2.8-million-square-foot building, is being redeveloped into a mixed-use complex that will include 6,000 residential units, office spaces, retail, and a hotel. The project, which began in 2016, aims to transform the long-vacant building into a vibrant hub for the city.
Conclusion
The trends affecting traditional office buildings in the United States have led to a decrease in demand for these spaces and an increase in vacant properties. In response, developers are undertaking conversion projects to repurpose these buildings into residential apartments and mixed-use developments. These projects not only provide new housing options for urban residents but also contribute to the revitalization of city centers and the creation of more integrated, sustainable communities.
Frank Amodio, Jr and Eric Amodio are pleased to announce the long-term lease of 77 Whiting Street, Plainville to Vibe Worldwide, LLC.
The 2,800 sf corner retail space at the intersection of Whiting and Broad Streets will undergo tenant fit-out for several uses for the holistic wellness brand including group dance & exercise, holistic healing, mentoring & coaching.
The space is anticipated for a June 1, 2023 opening, pending construction.
Amodio & Co represented both landlord and tenant in this transaction.
Frank Amodio, Jr and Eric Amodio, CCIM of Amodio & Co are happy to announce the multi-year office lease at 146 New Britain Avenue, Plainville, CT to Touch of Life, LLC. The tenant will offer CPR and other healthcare related training courses. This lease completes the lease-up of this 10,000 sf office building.
Amodio & Co facilitated the sale of the property in 2018 and has been retained by the new ownership for leasing services.
Contact Amodio & Co Real Estate today to learn about all of our real estate services:
Lions Den Coffee Shop is now OPEN at their second location in Simsbury! Chris Edge of Amodio & Co. Real Estate had the pleasure of representing Lion’s Den on this lease and their continued expansion.
As exclusive tenant rep for Lions Den Coffee, Chris Edge of Amodio & Co Real Estate, is pleased to announce the recent expansion into Drake Hill Mall at 712 Hopmeadow, Simsbury, CT. Lions Den Coffee will lease 2,400 sf in space formerly occupied by Ana’s Kitchen. The storefront will be transformed with glass-panel accordian-style doors to create an open feel, with many changes planned for the interior. The retail plaza is anchored by Fitzgerald’s Foods Grocery and CVS Pharmacy, along with co-tenants Jersey Mike’s, TD Bank and Webster Bank.
Frank Shank, of Amodio & Co Real Estate, represented the buyer in the purchase of 1667 Exeter Road, Lebanon, CT- former “Spa at Grand Lake”. The property consisted of a 76-room hotel & spa main building overlooking Lake Williams with olympic-sized outdoor pool, indoor pool, tennnis courts, fitness facility, as well as an owner’s single family home- set on 71 private acres. The new owners plan to completely renovate the property and reopen for guests. The sale closed for $1,250,000.
Frank Shank, of Amodio & Co Real Estate, exclusively represented both buyer and seller in the off-market sale of a multi-tenant mixed-use strip plaza at 880 Boston Post Road, Old Saybrook, CT. The property is comprised of a 10,436 SF two-story (retail/office) building on 0.51 acres. At the time of sale, the second floor office was vacant with an additional retail vacancy on the first floor. The buyer plans significant capital improvements. The deal closed for $625,000. Contact Amodio & Co for additional off-market opportunities.
