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.
NEW HAVEN, CONN. — Developer and general contractor Hudson Meridian Construction Group will build a 398-unit apartment community at 201 Munson St. in New Haven. The unit mix will comprise 90 studios, 208 one-bedroom apartments, 78 two-bedroom residences and 22 three-bedroom townhome-style units. Amenities will include a pool, fitness center, clubhouse and outdoor grilling and dining areas. New York-based Paredim Partners will lease and manage the property upon completion, which is slated for November 2023. Tessera Partners and Capital & Venture Resources arranged an undisclosed amount of construction financing for the project through ACORE Capital and Sculptor Real Estate.
NORWALK, CONN. — Cushman & Wakefield has arranged the $293.5 million sale of The Norwalk Collection, a 662-unit multifamily portfolio located in the southern coastal Connecticut city of Norwalk. The Norwalk Collection comprises three buildings totaling 334 two-bedroom units and 328 one-bedroom units. Amenities include a pool, sundeck, fitness center, roof deck and tenant lounges. The properties also house approximately 68,000 square feet of retail space and 789 parking spots. Adam Spies, Adam Doneger, Brian Whitmer and Ryan Dowd of Cushman & Wakefield represented the sellers, Invictus Real Estate Partners and 166 2nd Financial Services, in the transaction. The team also procured the buyer, Beachwold Residential. Mona Carlton, Elliott Throne, Scott Aiese and Kenny Cutler off JLL provided a total of $33.1 million in Freddie Mac acquisition financing on behalf of Beachwold Residential.
MONROE AND NEWINGTON, CONN. — Marcus & Millichap has brokered the sale of two Connecticut retail properties that are net leased to Walgreens for a combined price of $11.7 million. Both properties, which are located in Monroe and Newington, total approximately 15,000 square feet. Nick Geaneotes, Steve Garthwaite and Derrick Dougherty of Marcus & Millichap represented the sellers, both of which were limited liability companies, in the transactions. The trio also procured the undisclosed buyers. Susan Bands of Marcus & Millichap assisted in closing both deals as the broker of record.