Mortgage Lenders Network - 109 Acres in Wallingford for Corporate Headquarters.

July 2006 - Carl G. Russell, CCIM, SIOR, is pleased to announce the sale of the 109 acres of land at the southwestern quadrant of Exit 15, or I-91 in Wallingford, CT. The site is bounded by Barnes Rd., (Rt. 68), Leigus Road, and Grieb Roads. The Buyer, Mortgage Lenders Network USA, Inc. have received approvals for the construction of a 300,000 square-foot headquarters complex on the site. They broke ground on construction of the complex May, and begin moving workers into the building during the summer of 2007. The complex will allow Mortgage Lenders Network to consolidate 615 workers who are split among 3 sites in the state. The company employs 300 people in Wallingford already and has promised to add an additional 1,000 jobs within 8 years. This real estate transaction is a key component to Mortgage Lender's growth in Connecticut and is one of the largest employment drivers in the state this year.

Russell, represented the owner, Bellemead Development Corp. The Buyer was represented by Dave Barnes of the CB Richard Ellis Company in Hartford, CT.