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January 26, 2005
Saint Mary's Hospital Signs Lease at Croft Commons
HAMDEN, CT - Michael Belfonti, President and CEO of Belfonti Associates, LLC and Tom Gessler, President of Gessler Development, announced today that one of their related entities, Scovill Commons Partners, LLC, has just entered into a 64-month lease with Saint Mary's Hospital for 16,800 square feet at Croft Commons. The property is located at 95 Scovill Street in Waterbury, Connecticut, and the lease commences February 1, 2005.
"The proximity of our building to the hospital and to many cultural centers and schools makes it an extremely desirable location for medical, educational, and governmental interests," said Michael Belfonti. "Our other tenants include the Social Security Administration, Waterbury's Department of Public Health, and other state and city agencies."
Croft Commons is a completely renovated office building totaling over 95,000 square feet on 1.72 acres in downtown Waterbury, Connecticut. The downtown area has been undergoing a significant renaissance over the past several years.
New developments include the University of Connecticut's Waterbury campus, which is located directly behind Croft Commons, and the $100 million dollar General Growth Properties' regional mall, which was developed in 1998 on the site of the former Brass Factory. Downtown Waterbury's jewel, the Palace Theater, also saw a $30 million dollar restoration and held its grand re-opening in 2004, with Tony Bennett as the feature performer.
In addition, the Waterbury Arts Magnet School opened its doors in 2004. The school specializes in the performing, visual, and creative arts for grades 6 through 12, and its students have direct access to the Palace Theatre. All of these new projects, with the exception of the regional mall, are within walking distance of Croft Commons.
The gentrification of downtown Waterbury also included the construction of an 800-car parking garage in 2002. The new garage, located on a parcel of land adjacent to Croft Commons, affords safe and convenient parking for Saint Mary's Hospital and other tenants.
According to Tom Gessler, the new parking garage was a significant factor in attracting Saint Mary's. "Parking was always a problem for this area, but the new garage has been instrumental in drawing tenants to our building and to the downtown Waterbury area in general," he said.
Saint Mary's Hospital is a 347-bed Catholic teaching hospital located directly across the street from Croft Commons. The Hospital intends to use its newly leased space at 95 Scovill Street as office space.
Belfonti Associates, LLC Real Estate Development and Investment, with a central office located in Hamden, Connecticut, actively and aggressively pursues opportunities throughout the United States and internationally.