Hartford, CT

Michael Hickeyof Colliers Dow & CondonRepresents SK Venture Investments, LLC

Ponemah Riverbank, LLC, has purchased Ponemah Mill, 607 Norwich Avenue, Norwich, CT, a 370,000 square foot historic riverfront industrial mill from SK Venture Investments for $3,265,000.

Built in 1870, this site was once Norwich’s largest employer and was the largest cotton mill of its type in the world, expanding its facilities in 1884 and 1902. However, the business was hit hard by the Great Depression and finally it ceased operations in 1970. The building has most recently been home to Helicon Furniture International Contract Furnishings Group.

The New Jersey development firm plans to start a $40 million renovation project to restore this monumental brick mill building into 302 luxury rental apartment units. Construction will be divided into three phases, with initial occupancy anticipated in fall, 2008. In November, 2005, the City of Norwich voted unanimously to approve the plan.

About Colliers International

Colliers International is a global partnership of independently owned commercial real estate firms. The organization's 10,171 employees span the world in 266 offices in 56 countries. On a worldwide basis, Colliers manages 828,815,406 square feet, and has revenue of $US 1,639,468,109. For more information about Colliers International, visit our website at www.colliers.com.

Contact Information

Please Contact:

Michael Hickey
(860) 249-6521, Ext. 232

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