News: Connecticut

Centerplan Development Co. constructing new 120,000 s/f Carvel Corp. world HQ

Centerplan Development Company is constructing the brand new Carvel Corporation world headquarters in New Britain. The project, set for completion in the spring of 2008, is a 120,000 s/f plant on Booth and Myrtle Sts. in the downtown area known as the Smart Park. The site will include administrative offices, food production space and deep-frozen storage, and allow the company to make its traditional cakes as well as new gourmet desserts. The facility will become the main distribution and storage center for Carvel Corporation. Centerplan and the city of New Britain worked with the state of Connecticut utilizing its clean-up program to remediate this brownfield site. Mayor Timothy Stewart has called it "a key component of the city's economic vision and revitalization." Before the city was approached about the project, the site sat vacant for over 10 years. The challenges for Centerplan were not just the clean-up of the site. The building required a 45,000 s/f deep-freeze storage room which will be kept at -25 degrees year round. Special insulation and temperature control for the floor were put in place to help the room maintain this temperature even if the power were to fail during a storm and to also prevent the cold from penetrating the adjacent administrative offices. The state of the art cake making and decorating room of the building will allow for easy clean-up with a specialized cleaning system and sloped floors for collection. Many aspects of the building were unique in design and Centerplan has successfully met all challenges with tremendous success and turn-around time. When completed, the site will spread over roughly ten acres and provide abundant parking for employees and visitors. A shipping and receiving area, accessible from Myrtle St., will provide safe and easy access to vehicles traveling to and from the facility as well as protect products from the elements when loading. Local response regarding the project has been positive. Governor Jodi Rell has been quoted stating "This project is responsible growth at its best." Carvel will move 40 employees to the facility as well as add 225 additional jobs over the next three years. Connecticut is pleased to see Carvel keeping its roots in the state. Centerplan, a Hartford-based company led by president Robert Landino, directs investment strategies related to real estate acquisition, development and funding, with an emphasis on adding asset value through repositioning strategies. The company continues to grow and break new ground, as it is currently developing a variety of residential, retail and urban properties in Connecticut including Toby Hill Chase, a residential neighborhood in Westbrook, and College Square, a mixed-use 19-story building in downtown New Haven. More information is available at www.centerplan.com.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary