Mergers & Acquisitions

2019

March

Bell Wealth Management announced its pending merger with Berger Financial Group of Plymouth, Minnesota. Together they will manage over 1,200 client relationships across 38 states. Bell Wealth has also added to its team. Tyson Pettitt was named managing director and financial advisor in the Burlington office. He has nine years’ financial services experience.

Concept Move LLC leased space at 2069 Williston Road, Suites 2 and 3, from South Burlington Realty Co. LLC to serve as its new home. Broker Esther Lotz was the tenant’s broker-consultant. Present at closing were Lotz; Lucas Zelazny, Concept Move; and Tim McKenzie, South Burlington Realty.

Todd and Myra Alix have bought the Troy Country Store. John A. Beal of V/T Commercial assisted the sellers, John and Jean-Marie Dennison, with the sale of the business and real estate.

Amethyst Captive Insurance Solutions Inc. leased 1,422 square feet of office space at 126 College St., Burlington, from Investors Corporation of Vermont. Bill Kiendl and Jed Dousevicz of V/T Commercial assisted both parties.

Continuum LLC leased 6,000 square feet for its CBD oil production at 552 Avenue D, Williston, from R.E.M. Development Co. LLC. Tony Blake of V/T Commercial assisted the tenant.

Vermont Tent Co. has executed a lease for its new 59,225-square-foot facility at 8 Susie Wilson Road, Essex Junction, where it will relocate its headquarters in the spring. Tony Blake of V/T Commercial made the announcement as exclusive tenant representative for Vermont Tent Co., and Nicole Senecal of Omega Real Estate Associates represented the landlord.

Court Street Associates Inc. purchased a Hill Section office building at 337 College St., Burlington, from Tidal River LLC. Tony Blake and Linda Letourneau of V/T Commercial assisted both parties.

Howard Center Inc. leased 6,550 square feet of office space at 208 Hurricane Lane, Williston, from Hillside Properties Inc. Linda Letourneau of V/T Commercial represented the landlord, and Michael Simoneau of Geri Reilly Real Estate represented the tenant.

Knight Consulting Engineers leased space at 183 Commerce St., Williston, from Unsworth Properties LLC. Tony Blake and Linda Letourneau of V/T Commercial assisted both parties. •

February

Suicide Six Ski Area at the Woodstock Inn & Resort invested $400,000 to upgrade its snowmaking infrastructure for the 2018/2019 season with the installation of 10 TechnoAlpin snow producers. The installation fully automates snow production on The Face, the mountain’s signature trail, and the ski and snowboard learning center.

Ark La Tex Financial Services LLC, dba Benchmark Mortgage, leased an office location at 78 Severance Green, Suite 105, Colchester, from Severance Corners Village Center LLC. Broker Esther Lotz made the announcement. Present at closing were: Robin Jeffers, Severance Corners Village Center; Karriann Poulin, Ark La Tex; and Lotz.

Andrew Peterson, the owner of Peter Quality Malt, bought the 583-acre Nordic Farms, a landmark on U.S. 7 in Charlotte, in partnership with Jay and Matt Canning, owners of Hotel Vermont. The property has an easement with the Vermont Land Trust, and about 350 acres will be planted with barley and other grains.

Gov. Phil Scott announced that the Vermont Yankee Nuclear Power Station has been sold to NorthStar Group Services. NorthStar will begin decommissioning and environmental cleanup on an expedited timeline so the site can become available for reuse decades earlier than previously planned.

Reliable Respiratory Inc. leased 4,335 square feet of office and distribution space at 181 Commerce St., Williston, from Unsworth Properties LLC. Tony Blake of V/T Commercial represented the landlord, and Kendra Kenney of Donahue & Associates represented the tenant.

TD Bank NA sold its property at 14 South Water St., Waterbury, to Furst Management Ventures LLC. Bill Kiendl of V/T Commercial, TD Bank’s exclusive area representative, announced the sale.

Union Bank signed a long-term lease at Finney Crossing Commercial in Williston, where a full-service banking and lending facility is under construction. Opening is anticipated by the end of the year. Tony Blake of V/T Commercial represented the landlord, Snyder FC Commercial Properties, and Rieley Properties.

Looking to retire in a few years, Tim Carney, CFP, announced that his company, Vermont Wealth & Retirement, has been acquired by Hammond Iles Wealth Advisors, headed by Greg Hammond, CFP, CPA, and Scott Iles, based in Connecticut. Vermont Wealth & Retirement will retain its name, office location, and staff and will have increased capacity to host a series of investing education classes and offer advanced business and charitable planning.

Diana Sheltra, EA, of Sheltra Tax and Accounting LLC has purchased the income tax practice of Jeffrey R. Bradley, CPA PC. Bradley has been battling health issues, but will remain available to Sheltra in the coming year to facilitate a seamless transition.

ECHO, Leahy Center for Lake Champlain has built a 156kWp solar carport at its property that employs innovative two-sided panels that capture reflected light as well as the direct rays of sunlight to increase its output. It was built at the same time as a new parking lot and state-of-the-art stormwater pollution control system built by ECHO and the City of Burlington. •

January

New Duds Inc., a commercial screen printing company, leased 8,089 square feet at 382 Hercules Drive, Colchester, from Todd Realty. Linda I. Letourneau of V/T Commercial and Dave Kelly of HighPoint Realty assisted both parties.

Matt and Caroline Corrente of Corrente LLC bought the Lobby Restaurant in Middlebury. Bill Kiendl of V/T Commercial and Johnny Beal of Vermont Business Brokers represented the seller, and Jed Dousevicz of V/T Commercial assisted the buyer.

Eric Warnstedt and Will McNeil, owners of Hen of the Wood and Doc Ponds, bought Prohibition Pig from Chad Rich. This brings to four the number of restaurants the partners own.

Suicide Six Ski Area at the Woodstock Inn & Resort invested $400,000 to upgrade its snowmaking infrastructure for the 2018/2019 season with the installation of 10 TechnoAlpin snow producers. The installation fully automates snow production on The Face, the mountain’s signature trail, and the ski and snowboard learning center. West Meadow Farm Bakery LLC has leased space at the Essex Town Center, 4 Carmichael St., Essex, from Town Center LLC. Broker Esther Lotz was the tenant’s broker-consultant. Pictured are Lotz (left) and Lois Blaisdell, West Meadow Farm Bakery.

Champlain Valley Dispensary Inc. leased a 2,775-square-foot commercial space at 2 Green Tree Drive, South Burlington from Pidgeon Farm Properties. Rick Harrison of J.L. Davis Realty represented the landlord, and David Curley of J.L. Davis assisted the tenant.

Eric Bibens II Revocable Trust purchased a 1,700-square-foot office condominium at 85 Prim Road, Unit 402, Colchester, from Strategic Benefits Group. Rick Harrison of J.L. Davis Realty represented the buyer, and David Curley of J.L. Davis represented the seller.

Adams Real Properties LLC bought a 41-acre parcel of land at 700 Mountain View Road, Williston, from GlobalFoundries U.S. 2 LLC. Rick Harrison of J.L. Davis Realty represented the seller.

The State of Vermont renewed its office lease for 36,540 square feet at the GlobalFoundries Essex Junction campus at 1000 River St. Rick Harrison of J.L. Davis Realty assisted the landlord.

Vermont Sandwich Co. Inc. leased a 1,995-square-foot commercial space at Maple Tree Place in Williston from BSREP II Cypress MT LLC. Rick Harrison of J.L. Davis Realty assisted the tenant, and Steve Donahue of Donahue & Associates assisted the landlord.

East Coast Flooring and Window Treatment Inc. leased a 2,500-square-foot warehouse space at 41 Commerce St., South Burlington, from Joe Eddy Holdings LLC. Rick Harrison of J.L. Davis Realty assisted both parties.

Howard Center leased 4,000 square feet at 60 Knight Lane, Williston, from Lewis Family Partnership LLP. Rick Harrison of J.L. Davis Realty and Yves Bradley of Pomerleau Real Estate assisted the landlord, and Michael Simoneau of Geri Reilly Real Estate assisted the tenant.

Accu-Rite Payroll Services of Colchester announced its merger with ConnectPay. Founded by Paul Altavena and Michael Young in 2008, ConnectPay is a regional company covering mostly Massachusetts, Vermont, and New Hampshire. Annual reporting, quarterlies, W2s, etc., will be done as in the past on Accu-Rite’s software. ConnectPay will maintain Accu-Rite’s fee structure through 2019. Mansfield Apartments LLC bought commercial land at 142 and 144 Knight Lane in Williston from Lewis Family Partnerships LLP for the construction of a 31-unit residential apartment building. Yves Bradley of Pomerleau Real Estate represented the seller, and Rick Harrison of J.L. Davis Realty represented the buyer.

Vermont Emergency Medical Services LLC leased a 6,850-square-foot stand-alone commercial building at Building 900, Robinson Parkway, Essex Junction, from GlobalFoundries U.S. 2, LLC. Rick Harrison of J.L. Davis Realty assisted the landlord.

EJ Property Holdings LLC bought Unit 31, Essex Towne Marketplace, Essex Junction, from Richard L. and Christine M. Wheatley. Broker Esther Lotz represented the seller, and Linda I. Letourneau of V/T Commercial represented the buyer. Pictured from left: Letourneau; Phillip O’Connor, EJ Property Holdings; attorney Edward D. Fitzpatrick; and Lotz. •