BRANFORD, CONN. — Thimble Island Brewing Co. (TIBC) has signed a lease for a 30,000-square-foot building, located at 16 Business Park Dr. in Branford. TIBC is expected to open the doors of the newly renovated and expanded facility this summer. Founded in 2012, TIBC now offers several standard varieties on tap at bars and restaurants throughout the Connecticut shoreline, as well as specialty brews in the brewery’s tasting room. Tim McMahon of O,R&L Commercial represented TIBC in the transaction.
NEW HAVEN, CONN. — Marcus & Millichap has brokered the sale of an apartment building located at 441 Chapel St. in New Haven. The 17-unit property sold for $3.9 million, or $143 per square foot. Eric Pentore, Wesley Klockner, L.A. Drinkwater and Seth Richard of Marcus & Millichap represented the seller and the buyer, both limited liability companies, in the transaction.
NORTH HAVEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a professional/medical building located at 100 Broadway in North Haven. 100 Broadway North Haven LLC purchased the 11,000-square-foot property for $1 million from Bass Inc. Stephen Press of Press/Cuozzo represented the buyer, while Susan Criscuolo, also of Press/Cuozzo, represented the seller in the transaction.
DANBURY, CONN. — An affiliate of Harbor Group International has sold Towne Brooke Apartments, a 102-unit apartment community in Danbury. An undisclosed buyer acquired the property for $17.6 million. Built in 2009, the property features a clubhouse, 24-hour fitness center and an outdoor pool. Apartments feature nine-foot ceilings, GE appliances, full-size washer and dryers, walk-in closets, wood kitchen cabinetry, ceiling fans in bedrooms and balconies or patios. At the time of the sale the property was 93 percent occupied.
MILFORD, CONN. — Gramercy Property Trust has acquired a 24,700-square-foot facility located at 250 Research Dr. in Milford. Darobara Milford LLC and 95 CT LLC sold the property for an undisclosed price. FedEx currently occupies the property. Lew Finkelstein and CJ Huter of The Goldstein Group represented the seller in the transaction.
MERIDEN, CONN. — Binswanger has brokered the sale of a manufacturing/warehouse facility located at 119 Empire Ave. in Meriden. 119 Empire Avenue LLC purchased the 166,330-square-foot property for an undisclosed price from Atlas Container LLC. Situated on 12.42 acres, the property features an open layout, 26.8-foot clear ceiling heights, heavy power and an active railroad spur. The buyer plans to take occupancy this spring. Jim Panczykowski of Binswanger’s New Haven, Conn., office arranged the transaction.
HARTFORD, CONN. — Meridian Capital Group has arranged a $28.1 million CMBS loan for the acquisition of an office property located at 100 Pearl St. in Hartford. The borrowers are SGS Pearl LLC and Shelbourne Pearl LLC. The 10-year loan, which was provided by a CMBS lender, features a 70 percent loan-to-cost ratio and a fixed rate with two years of interest-only payments. Built in 1989, the 17-story property features 281,000 square feet of office space. On-site building amenities include a parking garage, a fitness center, conference rooms, a food service lounge with seating, an art gallery, building concierge and 24-hour security. Shaya Ackerman, Steven Adler and Jacob Schmuckler of Meridian Capital Group negotiated the transaction.
MANCHESTER, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of TGM Waterford Commons, an apartment community located at 30 Catherine’s Way in Manchester. Beachwood Residential LLC purchased the 303-unit property from TGM Waterford LLC, an affiliated entity of New York City-based TGM Associates, for $49.9 million, or $165,000 per unit. The 13-building property features 47 one-bedroom/one-bath apartments, 193 two-bedroom/two-bath units and 63 three-bedroom/two-bath units ranging from 690 to 1,350 square feet. Units feature walk-in closets, in-home full-size washer/dryer units and a private patio or balcony area. Community amenities include a clubhouse, heated indoor swimming pool and spa, movie theater, fitness center, sauna and steam room, volleyball court, tennis court, playground, barbecue and picnic area, storage units and carports. Steve Witten and Victor Nolletti of IPA represented the seller in the transaction.
MIDDLETOWN, CONN. — HREC Investment Advisors has arranged the sale of the Inn at Middletown, located at 70 Main St. in Middletown. Massachusetts-based Linchris Hotel Corp. acquired the 100-room hotel for an undisclosed price. Ketan Patel and Geoff Davis of HREC represented the seller, Middletown Hotel Associates LP, in the transaction.
EAST HARTFORD, CONN. — Chozick Realty Inc. has completed the sale of Colonial Court Apartments in East Hartford. The 76-unit apartment complex sold for $5.2 million, or $68,421 per unit. Constructed in 1964, the property features a mix of studios, one-bedroom and two-bedroom units, and two-bedroom townhomes, as well as onsite parking and laundry facilities. Rich Chozick of Chozick Realty represented the seller, Mystic Property Management, and the buyer, MGG Capital, in the transaction.
