BRISTOL, CONN. — JLL has brokered the sale of Bristol Plaza, a 263,829-square-foot shopping center located approximately 20 miles southwest of Hartford, for $44.4 million. Anchored by regional grocer Stop & Shop, Bristol Plaza was 93.1 percent leased at the time of sale. Other tenants include T.J. Maxx, Burlington, Dollar Tree and Starbucks. Chris Angelone, Zach Nitsche, Alex Quinn, Sam Wiesman and Henry Schaffer of JLL represented the seller, Federal Realty Investment Trust, in the deal. The buyer was Sterling Organization.
GREENWICH, CONN. — Cushman & Wakefield has arranged an $88 million construction loan for Benedict Court, a 120-unit multifamily project that will be located in the southern coastal Connecticut city of Greenwich. Benedict Court will consist of 72 market-rate apartments and 48 affordable housing units. Amenities will include a rooftop deck, a resident lounge with a chef’s kitchen, coworking spaces, children’s playroom and a fitness center. Gideon Gil, Taylor Geiger, Cecelia Galligan and Nick Pappas of Cushman & Wakefield arranged the loan through Santander Bank. The borrower is a partnership between Lonicera Partners, Nimbus Properties and Benedict Capital. Construction is now underway, and completion is slated for summer 2028.
TRUMBULL, CONN. — Locally based brokerage firm Vidal/Wettenstein has negotiated the $3.7 million sale of a 112,544-square-foot office building in the southern coastal Connecticut city of Trumbull. The buyer, Kubtec, a provider of digital imaging equipment, will convert the first two floors of the building at 75 Merritt Blvd. to support its production, assembly and quality control initiatives. Bruce Wettenstein of Vidal/Wettenstein represented the buyer in the transaction. Alan Fischer of Fischer Real Estate represented the seller, Sachem Capital Corp.
NEW LONDON, CONN. — Connecticut College, a liberal arts institution in New London, has completed the renovation of a campus center that was originally constructed in 1957. Known as the College Center at Crozier-Williams, the 65,0000-square-foot facility houses flexible study and gathering spaces, dining space, a relocated pub with event space and a landscaped terrace with a student garden. KSS Architects led the design of the renovation, which the college executed along with project manager Colliers.
STAMFORD, CONN. — CBRE has negotiated the sale of a 153,416-square-foot shopping center in Stamford, located in southern coastal Connecticut. Whole Foods Market and Saks OFF Fifth anchor the center at 110 High Ridge Road, which is a redevelopment of a former Lord & Taylor department store into a multi-tenant center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, HBS Global Properties, in the transaction. The trio also procured the buyer, an entity doing business as 110 High Ridge Road LLC.
OLD LYME, CONN. — A partnership between Zelco Properties & Development, Grossman Development Group and The McDevitt Co. has acquired a 102,500-square-foot shopping center in Old Lyme, located in southern coastal Connecticut. Anchored by Big Y World Class Market, Old Lyme Marketplace is also home to tenants such as Walgreens, Grand Wine & Spirits and The Bowerbird Gift Shop. The seller and sales price were not disclosed.
SOUTH WINDSOR, CONN. — CBRE has negotiated the $98.2 million sale of The Shops at Evergreen Walk, a 357,742-square-foot retail power center located outside of Hartford in South Windsor. A newly opened Whole Foods Market anchors the center, which is located within a larger master-planned development. Other tenants include L.L. Bean, Apple, Anthropologie, Pottery Barn, Williams-Sonoma, lululemon, Golf Lounge 18, J.Crew Factory, Gap Factory, Nike and Bluemercury. Nat Heald led the CBRE team that represented the seller, PGIM Real Estate, in the transaction. Scott Aiese led a JLL team that arranged a $76.9 million acquisition loan through an unnamed international bank on behalf of the buyer, a joint venture between Brand Street Properties and Barings. Chris Angelone and Zach Nitsche, also with JLL, structured the joint venture equity investment.
STAMFORD, CONN. — Knighthead Funding has provided a $48 million loan for the acquisition and partial conversion of the 508-room Marriott Stamford hotel in southern coastal Connecticut. The sponsor, Clearview Hotel Capital, will use a portion of the proceeds to convert one of the hotel’s two towers, which were built in 1975 and 1985, into a residential complex with studio, one- and two-bedroom units. The other tower will be renovated and relaunched as a modernized hotel. Tyler Dumon, Christopher Kramer, Daniel Fromm, Ricky Braha, Jordan Roeschlaub and Nick Scribani of Newmark arranged the debt.
WILTON, CONN. — CBRE has negotiated the sale of White Oaks at Wilton, a 100-unit apartment complex located in southern coastal Connecticut. Built in 2011, the complex offers one-, two- three-and four-bedroom units. According to Apartments.com, amenities include a pool, fitness center, playground and outdoor grilling and dining stations. Jeffrey Dunne, Eric Apfel, Stuart MacKenzie and Travis Langer of CBRE represented the seller, LaSalle Investment Management, in the transaction and procured the buyer, CT Realty Trust.
MILFORD, CONN. — New York City-based HKS Real Estate Advisors has arranged a $7.9 million acquisition loan for a 105,481-square-foot shopping center in the southern coastal Connecticut city of Milford. The center sits on a 22-acre site and was 44 percent leased at the time of sale. Andrew Pilchick and Alex Dobosh of HKS arranged the debt through 360 Capital Funding on behalf of the borrower, Constitution Credit, which plans to implement a value-add program.
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