NORWALK, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $2.7 million sale of a 5,732-square-foot retail strip center located in the southern coastal Connecticut city of Norwalk. At the time of sale, the property was fully leased to Subway and Mattress Firm. Brett Sherman of Angel Commercial represented the seller, JA Real Property Corp., in the transaction. Bryan Atherton and Matt Renzulli of Coldwell Banker Commercial represented the buyer.
BRIDGEPORT, CONN. — Flaherty & Collins Properties (F&C), in partnership with RCI Group and the City of Bridgeport, has unveiled plans for a $200 million waterfront apartment community at Steelepointe Harbor, a mixed-use development along Long Island Sound. Plans call for 420 units and 10,000 square feet of retail space. Amenities will include a pool, outdoor kitchens, gathering spaces, secure parking and a dedicated dog park and pet spa. A water taxi will provide residents with service to nearby beach areas. A fitness center will offer fitness classes, a spin studio, sauna and jacuzzi. Residents will also have access to a pickleball court. Bridgeport is located 50 miles northwest of New York City. Steelepointe Harbor is accessible along the I-95 corridor and a short walk to the Bridgeport Transportation Center, which features access to the train station and the Bridgeport & Port Jefferson Ferry to Long Island. The Hartford Healthcare Amphitheatre live event venue, which opened in 2021, is less than a mile away. Previous development phases of Steelepointe Harbor included a Bass Pro Shops, Chipotle and Starbucks in late 2015, followed by the addition of Bridgeport Harbor Marina. The 220-slip marina is approaching full occupancy in its third year. …
WESTPORT, CONN. — CBRE has brokered the $16.5 million sale of a 42,432-square-foot office building located at 33 Riverside Ave. in the southern coastal Connecticut city of Westport. The waterfront building rises five stories and was 91 percent leased at the time of sale. Jeffrey Dunne, Steve Bardsley, Jeremy Neuer, David Gavin and Travis Langer of CBRE represented the seller, an entity doing business as Abbey Road Riverside LLC, in the transaction. The team also procured the buyer, The Feil Organization.
HARTFORD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Capitol View Apartment Homes, a 264-unit multifamily complex in downtown Hartford. Built in 1955 and renovated between 2002 and 2013, the 10-story building houses units with an average size of 542 square feet and offers amenities such as a lounge, fitness center and concierge service. Victor Nolletti, Wes Klockner and Eric Pentore of IPA represented the seller, an entity doing business as MATP LLC, in the transaction. The trio also procured the buyer, EOM Equity LLC.
TRUMBULL, CONN. — New York City-based brokerage firm Rosewood Realty Group has negotiated the $101 million sale of The Royce at Trumbull, a 339-unit multifamily property located in southern Connecticut’s Fairfield County. AvalonBay Communities originally developed the property, which houses one-, two- and three-bedroom units, in 1997. Jonathan Brody of Rosewood Realty Group represented the seller, a partnership between Sym Investments and Skywood Properties, which acquired the asset in spring 2021 for $82 million. Brody also procured the buyer, Massachusetts-based Colony Hills Capital. The Royce at Trumbull was 99 percent occupied at the time of sale.
BRANFORD, CONN. — Locally based brokerage firm O,R&L Commercial has negotiated the $18.9 million sale of Shoreline Plaza, a 77,037-square-foot retail center in the southern coastal Connecticut city of Branford. Tenants include Coastal Wine & Spirits, Staples, Shoreline Prime Meats & Deli and InShape Fitness. Frank Hird of O,R&L Commercial represented the seller, A&A Properties, in the transaction, and procured the buyer, an entity doing business as Executive Two Hundred LLC.
NORTH HAVEN, CONN. — New Jersey-based financial intermediary Cronheim Mortgage has arranged a $23.5 million permanent loan for North Haven Pavilion, a 148,277-square-foot shopping center located north of New Haven. Tenants at North Haven Pavilion include Michaels, Wendy’s and Hartford Healthcare. Dev Morris, David Poncia, Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the financing on behalf of the borrower, a subsidiary of National Realty & Development Corp., which originally developed the center in 2004. The loan carried a 10-year term and a 30-year amortization schedule.
STAMFORD, CONN. — Cushman & Wakefield has arranged a loan of an undisclosed amount for the refinancing of The Residence at Summer Street, a 104-unit seniors housing property in Stamford. The five-story, newly built facility offers assisted living and memory care services. Richard Swartz, Jay Wagner, Jim Dooley and Joseph Carbone of Cushman & Wakefield arranged the financing through VIUM Capital and its affiliate Merchants Bank of Indiana. The borrower was a partnership between Virtus and LCB Senior Living.
HARTFORD, CONN. — The Fremont Group has sold Riverview Plaza, a 325,000-square-foot waterfront office complex located on the east side of Hartford. The two-building complex was sold in conjunction with a 50,000-square-foot office building and two adjacent parking lots, all of which are situated within Founders Plaza Business Park, for $50 million. The buyer was an entity doing business as Milton East Hartford Investments LLC. At the time of sale, the properties had a collective occupancy rate of 90 percent, with tenants including Bank of America and the State of Connecticut Judicial Branch. Patrick Mulready and John McCormick of CBRE, along with Cory Gubner and Alex Haendler of Newmark, represented The Fremont Group in the transaction.
STORRS, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $12.5 million sale of Orchard Acres, a 96-unit multifamily property in Storrs, home of the University of Connecticut. Built in 1963, the property is situated adjacent to the north end of campus and exclusively offers one-bedroom units. Tom Boyle of Chozick Realty represented the seller, a Massachusetts-based entity doing business as Orchard Acres Apartments LLC, in the deal. Steve Pappas with Chozick Realty represented the buyer.