Connecticut

HFF Arranges $9.9M Sale of Retail Center in Connecticut

by Amy Works June 3, 2015

WILTON, CONN. — HFF has arranged the sale of Town Green at Wilton Center, a shopping center located in the town center of Wilton. An affiliate of Westport, Conn.-based Paragon Realty Group LLC acquired the 34,956-square-foot property for $9.9 million. Built in 1985, the two-building shopping center is occupied by a U.S. Post Office, Webster Bank, Hunan Café and Marly’s Bar & Bistro. James Koury, Fred Wittman, David Fowler and Patrick McAneny of HFF represented the sellers, Wilton Center Development LLC and Boylston Properties, in the deal.

June 3, 2015

The new owner plans to demolish a portion of the 150,000-square-foot industrial building and renovate the asset in Derby, Conn.

Connecticut Industrial Northeast

Fischer Real Estate Brokers Sale of 150,000 SF Industrial Building in Connecticut

by Amy Works June 1, 2015

DERBY, CONN. — Fischer Real Estate has arranged the sale of an industrial property located at 150 Roosevelt Drive in Derby. An Ohio-based investment group purchased the two-story, 150,000-square-foot property for an undisclosed price. The buyer plans to demolish a portion of the building, renovate the remaining asset and re-introduce the property on a for-lease or for-sale basis. Alan Fischer of Fischer Real Estate represented the buyer and the seller, Derby Cellular Products LLC, in the transaction.

June 1, 2015

Connecticut Industrial Northeast

Sentry Commercial Arranges Acquisition of 83,736 SF Warehouse Facility in Connecticut

by Amy Works May 26, 2015

WINDSOR, CONN. — Sentry Commercial has arranged the acquisition of an industrial warehouse facility located at 1050 Kennedy Blvd. in Windsor. TELLING Industries purchased the 83,736-square-foot property for $1.4 million. The buyer is a metal framing and accessory manufacturing company headquartered in Ohio with locations in Arizona and Arkansas.

May 26, 2015

Connecticut Northeast Retail

Ceruzzi Properties Sells Trolley Square in Connecticut for $22M

by Amy Works May 20, 2015

EAST HAVEN, CONN. — TS East Haven LLC, an entity controlled by Ceruzzi Properties, has sold Trolley Square, a retail center in East Haven, to a Manhattan-based private investor for $22 million, as part of a 1031 exchange. Located at the intersection of Hemingway Avenue and Main Street, the 107,921-square-foot shopping center is anchored by a Stop & Shop and fully leased to a variety of national and local tenants. Jeffrey Dunne, David Gavin, Chris Angelone and Nat Heald of CBRE represented the seller and procured the buyer in the transaction. Robert Von Ancken of Newmark Grubb Knight Frank advised the buyer and secured a second mortgage to complete the purchase on behalf of the buyer.

May 20, 2015

Connecticut Industrial Northeast

Sentry Commercial Brokers Sale of 52,214 SF Industrial Facility in Connecticut

by Amy Works May 20, 2015

EAST HARTFORD, CONN. — Sentry Commercial has brokered the sale and acquisition of an industrial property located at 60 Meadow St. in East Hartford. Arthur J. Hurley Co. purchased the 52,214-square-foot facility for $1.5 million from New Boston Fund. The electrical wire and cable distribution company plans to expand operations into the property this fall. Sentry Commercial was the sole broker in the transaction.

May 20, 2015

Connecticut Industrial Northeast Office

O,R&L Commercial Arranges Sale of 12,750 SF Flex Building in Connecticut

by Amy Works May 18, 2015

CROMWELL, CONN. — O,R&L Commercial has brokered the sale of a flex building located at 800 Corporate Row in Cromwell. Buhl Land East IV LLC sold the 12,750-square-foot property for $1.05 million to Matthew Esler. The property features four drive-in doors and two loading docks. Renewal by Andersen will occupy the facility for its marketing and sales office, as well as a distribution hub for doors and windows. Frank Hird of O,R&L Commercial represented the seller, while Bob Gaucher, also of O,R&L, represented the buyer in the transaction.

May 18, 2015

Connecticut Northeast Retail

Cinépolis USA to Join Bridgeport’s $750M Steelpointe Harbor

by Amy Works May 14, 2015

BRIDGEPORT, CONN. — Cinépolis USA has signed on to open a luxury 12-screen, 1,200-seat hybrid theater at Steelpointe Harbor, a mixed-use development in Bridgeport. The 50,000-square-foot theater will offer five Cinépolis Luxury Cinemas auditoriums with fully reclining leather seats and in-theater waiter service and dining with a full bar, and seven Cinépolis auditoriums with comfortable seating and access to a gourmet menu and full bar in the lobby. The theater, which is slated to open in 2017, will be the company’s first location in Connecticut. Bridgeport Landing Development LLC, a subsidiary of The RCI Group, is developing Steelpointe Harbor, a two million-square-foot waterfront project. The first phase of the development is slated to open this year and construction on the second phase scheduled to begin in 2016.

May 14, 2015

Connecticut Northeast Retail

HK Group Brokers $22.5M Sale of Retail Property in Connecticut

by Amy Works May 13, 2015

WESTPORT, CONN. — HK Group has brokered the sale of a retail property located at 44 Main St. in Westport. An affiliate of Westport-based Paragon Realty Group, in partnership with Clarion Partners, purchased the property for $22.5 million from 44 Main Street Inc. Built in 1909, the 22,873-square-foot three-story property is currently occupied by Banana Republic and The Nail Spa Bless Corp. The property is zoned BCD – Business Center District. Matthew Keefe, David Lindland and Franco Fellah of HK Group were the sole brokers in the transaction. Steven Siegelaub of Berkowitz, Trager & Trager and David Godfrey of Gunn Godfrey Allison provided legal counsel for the seller.

May 13, 2015

Connecticut Northeast Office

Cushman & Wakefield Brokers Sale of 300,000 SF Office Campus in Connecticut

by Amy Works May 8, 2015

STAMFORD, CONN. — Cushman & Wakefield has brokered the sale of Airport Campus, a two-building office campus located at 113 King Street in Stamford. MBIA sold the property for an undisclosed price to a joint venture between affiliates of Steven Wise Associates LLC and the Manocherian family. Situated on 38 acres, the campus comprises a 110,000-square-foot building and a 190,000-square-foot property, as well as approvals to expand the facility by more than 240,000 square feet. The campus features a 250-person cafeteria; fitness center; auditorium and video conference center; 17 conference rooms; three meeting rooms; walking trails; tennis, basketball and volleyball courts; and facilities for a sundry shop, ATM, dry cleaner and professional mailroom. Thomas O’Leary, Maureen O’Boyle and Gerry Lees of Cushman & Wakefield represented the seller in the transaction. The buyer has retained Trip Hoffman, Matthew Lisk and Mike McCarthy of Cushman & Wakefield as leasing agents for the property.

May 8, 2015

Connecticut Loans Mixed-Use Multifamily New York Northeast Retail

Avant Capital Partners Originates $6.3M in Bridge Loans for Two Properties

by Amy Works May 7, 2015

NEW YORK CITY AND GREENWICH, CONN. — Avant Capital Partners has originated $6.3 million in bridge loans for two properties in Manhattan and Greenwich. The project located in Manhattan’s Midtown West neighborhood comprises three contiguous mixed-use properties offering 20 apartments and three ground-floor retail units in a total of 16,916 square feet. In Greenwich, the asset consists of four under-construction condominium units. Each unit will feature three bedrooms, 3.5 bathrooms and high-end interior finishes, including hardwood floors and high ceilings. The average unit size for the condos is 3,650 square feet.

May 7, 2015

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