FAIRFIELD, CONN. — New Jersey-based developer Accurate has acquired a mixed-use development site located adjacent to the Metro North train station in the southern coastal community of Fairfield. The 24-acre site, which has been branded The Crossings at Metro Station, is fully approved for 357 multifamily units, a 118-room hotel, 70,000 square feet of office space and 40,000 square feet of retail space. Louis Zuckerman, Patrick Colwell and Jeffrey Dunne of CBRE represented the seller of the site, Blackrock Realty LLC, in the land transaction while also procuring Accurate as the buyer. Construction could begin as early as the end of July or the beginning of August.
STRATFORD, CONN. — Locally based brokerage firm Vidal/Wettenstein has arranged the $8.2 million sale of Spinelli Plaza, a 58,200-square-foot shopping center in Stratford, located in southern Connecticut’s Fairfield County. Tenants at Spinelli Plaza include Chase Bank, Family Dollar and Starbucks. The Spinelli Family sold the center to an undisclosed 1031 exchange buyer. Bruce Wettenstein of Vidal/Wettenstein brokered the deal.
NEW HAVEN AND HAMDEN, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of a portfolio of three multifamily properties totaling 234 units in the New Haven area. The 123-unit Liberty Building was converted into an apartment complex in 1999 and is located in the city’s downtown area. Hamden Centre and Dogwood Hill Apartments, located in nearby Hamden, were both built in the 1970s and respectively total 65 and 46 units. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, Beachwold Residential, in the transaction and procured the buyer, Cue Residential.
DANBURY, CONN. — Target (NYSE: TGT) will open a 126,000-square-foot store at Danbury Fair, a regional mall located in southern Connecticut’s Fairfield County. The Minneapolis-based retailer will backfill a two-level space that was previously occupied by Sears for its first location in the city. J.C. Penney, Macy’s, Dick’s Sporting Goods and Primark are the other anchors at Danbury Fair, which is owned by Southern California-based REIT Macerich. An opening date was not disclosed. Target also recently backfilled a former J.C. Penney store at Macerich’s Kings Plaza in Brooklyn.
STAMFORD, CONN. — Connecticut-based developer and private equity firm Building & Land Technology has completed Anthem, a 180-unit apartment community in Stamford’s Harbor Point neighborhood. The waterfront community offers one-, two- and three-bedroom units and amenities such as a pool, fitness center with a yoga studio, meditation center, golf simulator, outdoor kitchens, guest suites and communal workspaces. Rents start at approximately $2,900 per month for a one-bedroom unit.
WINDSOR, CONN. — Condyne Capital Partners is underway on construction of Baker Hollow Logistics Center, a 165,000-square-foot industrial project in Windsor, a northern suburb of Hartford. The project will feature a clear height of 32 feet, one drive-in ramp and 58 trailer parking spots. Project partners include Polar Design Build, Maugel DeStefano Architects, C.E.Doyle, Pierce Builders Inc. and Turner Brothers LLC. The tilt-up walls have been fabricated and erected, and full completion is scheduled for November.
STAMFORD, CONN. — Oklahoma-based brokerage firm Stan Johnson Co. has negotiated the $46.7 million sale of a 69,773-square-foot retail property in the southern coastal Connecticut city of Stamford that is fully leased to regional grocer Stop & Shop. The property was built on 7.1 acres in 2006. Jason Maier of Stan Johnson Co. represented the seller, a New York-based private investor, in the transaction. An undisclosed institutional investment group based in Pennsylvania acquired the asset via a 1031 exchange.
WESTPORT, CONN. — CBRE has arranged a $15.2 million loan for the refinancing of Playhouse Square Shopping Center, a 40,000-square-foot retail property located in the southern coastal Connecticut city of Westport. Built in 1972, Playhouse Square was 97 percent leased at the time of the loan closing. Mark Fisher and Alex Furnary of CBRE arranged the loan through Union Savings Bank on behalf of the borrower, The HB Nitkin Group, which acquired the asset in 1998.
SHELTON, CONN. — New Jersey-based investment firm Devli Real Estate has acquired a 209,773-square-foot industrial property in Shelton, located in the southern coastal part of the state. The property sits on 14.7 acres at 510 River Road and is leased to Talalay Global, a manufacturer of mattresses and other bedding products. The seller and sales price were not disclosed.
HARTFORD, CONN. — Northeast Private Client Group has arranged the $16.5 million sale of two multifamily portfolios totaling seven buildings and 182 units in Hartford. The South End Portfolio comprises four buildings and 131 units, and the West End Portfolio consists of three buildings totaling 51 units. Taylor Perun and Alex Burr of Northeast Private Client Group represented the seller and procured the buyer, both of which requested anonymity, in the transaction.