REBusinessOnline

Joint Venture Acquires 91,040 SF Office Building in Stamford, Connecticut for $33.5M

STAMFORD, CONN. — A joint venture between The Melohn Group and Drake Street Partners has acquired 181 Harbor Drive, a 91,040-square-foot office building in Stamford, for $33.5 million. The newly renovated building houses the headquarters of apparel retailer Vineyard Vines and is part of the 17-acre Shippan Landing waterfront office campus. Amenities at the campus include a beer garden, fitness center and a cafeteria, as well as volleyball, basketball and bocce courts. The seller was a …

Industrial, Office Investment Demand Rises in Westchester, Fairfield Counties

The investment markets for office, industrial and flex properties in Westchester and Fairfield counties have seen significant activity over the last 12 months. Both debt and equity capital have been flowing into the urban and suburban areas of the counties, demonstrating that these submarkets are viable alternatives to New York City. This year has witnessed one of the largest transactions to ever take place in Westchester and Fairfield counties since we have been recording statistics.  This …

Retail Landscape Evolves in Fairfield, Westchester Counties

Main Street isn’t dead. It’s being refreshed, rebranded and reimagined. Creating a compelling experience in today’s retail environment is a critical element to being successful. Property owners are working hard to make their retail sites attractive and relevant. This includes placing emphasis on curb appeal and redeveloping spaces that may previously have been occupied by big box tenants. Many landlords are turning larger vacancies into multiple spaces to accommodate junior anchors and …

Northeast Private Client Group Negotiates $3.6M Sale of Two Multifamily Assets in Connecticut

BRIDGEPORT, CONN. — Northeast Private Client Group (NPCG) has negotiated the $3.6 million sale of a pair of multifamily assets in Bridgeport, located on Connecticut’s southern coast. The properties total 44 units. Brad Balletto, Rich Edwards and Jeff Wright of NPCG represented the seller, a local owner-operator, and procured the buyer, a Connecticut-based investor. The deal closed at a capitalization rate of roughly 7

Marcus Partners Sells Two Office Buildings in Westport, Connecticut for $30M

WESTPORT, CONN. — Investment firm Marcus Partners has sold two office buildings in Westport for $30 million to New York-based Waterway Capital. The newly renovated buildings, located at 8 & 19 Wright St., total 83,964 square feet and are situated within walking distance of the Saugatuck River, as well as high-end retail and dining options. The buildings were 94 percent leased at the time of sale to tenants such as UBS, Regus Corp., Berkowitz, Energy Income Partners and Ameriprise …

Washington Trust Provides $11.8M Construction Loan for Connecticut Apartment Project

WATERFORD, CONN. — Washington Trust, a community bank serving the Northeast, has provided an $11.8 million construction loan for a 72-unit apartment project located in the coastal Connecticut city of Waterford. The property will feature equal numbers of one- and two-bedroom units ranging in size from 845 to 1,140 square feet. Communal amenities will include a fitness center, recreation area and a resident clubhouse. The borrower was Connecticut-based Waterford Parc LLC. The loan carries an …

Colliers Arranges $19.9M Sale of Office Complex in Farmington, Connecticut

FARMINGTON, CONN. — Colliers International has arranged the sale of Pond View Corporate Center, a 236,302-square-foot office complex in Farmington, a western suburb of Hartford. The sales price was approximately $19.9 million. The two-building campus is situated on 34 acres off I-84 and offers amenities such as a fitness center, café, walking trails and a new conference and technology center. Tenants include Comcast, New England Asset Management and KBE Building Corp. John Cafasso, Ian Hunt …

Emerald Hospitality Buys 139-Room Hilton Garden Inn Near New Haven, Connecticut

WALLINGFORD, CONN. — Emerald Hospitality Associates, an Ohio-based hotel development and management firm, has purchased Hilton Garden Inn Wallingford/Meriden, a 139-room hotel in Wallingford, about 14 miles northeast of New Haven. The property offers a lobby bar and restaurant, as well as a 24-hour fitness center, pool, business center and 4,400 square feet of meeting space. Emerald plans to implement a capital improvement program to enhance the outdoor spaces, lobby and other features. This …

Pearce Commercial Negotiates 56,000 SF Warehouse Lease in Milford, Connecticut

MILFORD, CONN. — Local brokerage firm Pearce Commercial has negotiated a 56,000-square-foot warehouse lease in Milford, located between Bridgeport and New Haven. John Bergin of Pearce Commercial represented the tenant, Meridith Baer Home, a California-based home staging firm. Bergin also represented the landlord, MDC Milford Associates LLC, a division of Mountain Development

Urstadt Biddle Sells 10,100 SF Retail Property in Monroe, Connecticut

MONROE, CONN. — Urstadt Biddle, a publicly traded REIT based in Connecticut, has sold a 10,100-square-foot retail property in Monroe for $3.6 million. The deal closed at a capitalization rate of 6.9 percent. Tenants at the property, which Urstadt Biddle acquired in 2007, include Starbucks Coffee and M&T Bank. The buyer was an undisclosed, locally based

Conferences