Tag Archives: Calcagni Commercial

Calcangi Commerical Inks Nine-Year Master Lease with Sacred Heart University

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November 7, 2014 | Cheshire, CT – Far from the industry norm, and certainly not yet trendy, the way Calcagni Commercial Real Estate is brokering deals and creating value for properties is nothing short of forward thinking and smart, as evidenced by its latest deal, a nine-year master lease with Fairfield’s Sacred Heart University. Calcagni represented both sides of the transaction, resulting in the University’s lease of Pioneer Gardens, a 44-unit, 176-bed apartment building located at 51 Eckart Street in Bridgeport, just 0.4 miles from campus.

“It began as a pipe dream,” says Steven Calcagni, president of Calcagni Commercial Real Estate. “But, we knew a deal like this would be such an incredibly valuable opportunity for both the property owners and the University. We started with some baby steps, leasing a quarter of the building to Sacred Heart for one year, and ultimately got to complete a
marathon.”

Having managed Pioneer Gardens since 2009, Calcagni Commercial vice president Ralph Lewis had a comprehensive familiarity with the property as well as the needs of the University. Recognizing the compatibility of Pioneer Gardens with Sacred Heart’s long-term goals, Lewis pursued and secured the lease through 2023.

“Pioneer Gardens provides Sacred Heart with an opportunity to house 176 of our upper class students in close proximity to the campus and in a living situation that is conducive to what today’s college-aged students are looking for,” says Larry Wielk, Sacred Heart University dean of students. “This new long-term relationship allows us to move forward knowing that we will be able to satisfy the needs and demands of our growing student population. We are looking forward to continuing what has already been an excellent partnership.”

The deal is a win-win for Sacred Heart and property owner ACORN I of Hamden, Connecticut, in that the University maintains control of the building from an operational standpoint, filling a student housing void, and the owner has a guaranteed income regardless of any vacancies that may from time to time occur.

Representing both sides of a deal like this one is a shift for commercial real estate. But, for Calcagni, it results in something the company continually strives to achieve: value that didn’t exist previously. Working for both the lessor and lessee renders Calcagni a completely neutral party, able to understand and marry the best interests of both parties. That’s something not often seen in the industry.

CALCAGNI COMMERCIAL HELPS EVERYBODY’S MARKET INK DEAL WITH BIG Y

(photo courtesy of Everybody's Market)

(Photo courtesy of Everybody’s Market)

FOR IMMEDIATE RELEASE

April 25, 2014 | Cheshire, CTCalcagni Commercial and Everybody’s Market, both family- owned businesses in Cheshire, today announced the closing of a deal with Big Y Foods, Inc. that will transform Everybody’s Market into Big Y’s Everybody’s Market in the grocery store’s current location at 1021 South Main Street beginning in July 2014.

In talking with Big Y’s real estate manager more than one year ago, the Calcagni Commercial team learned the grocery store chain desired to have a presence in the Cheshire community.

Almost immediately, we thought of Everybody’s Market,” says Ralph Lewis, vice president of Calcagni Commercial. “They’re a family business that has had tremendous success delivering high quality products to high-end consumers. And they’ve done that all these years while remaining true to their core values: accountability; strong relationships, honesty, treating customers like family, and hard work.”

Confident in the potential for productive dialogue between Big Y and Everybody’s, Calcagni introduced the two families. For Sam Morris of Everybody’s, bringing in Big Y made perfect sense.

 “Ever since my late father, Irv Morris who passed away in 2012, brought Everybody’s back to Cheshire in the 1990’s, we’ve been dedicated to building strong, long-term relationships with our neighbors by selling high-quality local and natural produce, meats, seafood, and groceries,” says Sam Morris. “It was my dad who laid the foundation for all our success to date and made it possible for us to explore this unique opportunity with Big Y. We are two companies that have the same family values at our core, and I think Big Y is going to be a great addition to our Cheshire community.”

Morris informed Everybody’s management of the deal this morning. Management then spent the day sharing the news with employees.

Big Y will handle hiring for the new store. On its website, Big Y announced the April 29, 2014 opening of a hiring site for Big Y’s Everybody’s Market at 1029 South Main Street in Cheshire.

About Calcagni Commercial

Led by vice president Ralph Lewis, Calcagni Commercial’s specialized real estate team has the expertise to create value as opposed to take advantage of the moment, providing clients with perspective on past events and current trends as well as insight into market changes and coming opportunities. This combination of experience and vision uniquely lends itself to making highly valuable real estate decisions. Calcagni Commercial offers brokerage, development, and entitlement services. For more information, please visit http://www.calcagni.com/commercial or call 203-272-1821.