TRUMBULL, CONN. — Avison Young has completed the interior build-out of Make-A-Wish Foundation’s 15,000-square-foot office space in Trumbull, located in Fairfield County. The space at 56 Commerce Drive spans three stories. The project included renovating the lobby, communal areas and amenity spaces, as well as installing new utilities and elevators and adding a new experience floor, observation decks and patios for outdoor events. Avison Young also represented Make-A-Wish in its site selection and lease negotiations for the space.
WESTPORT, CONN. — CBRE has brokered the $43 million sale of two waterfront office buildings totaling 94,647 square feet in Westport, located in Fairfield County. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, David Gavin and Stuart MacKenzie of CBRE represented the seller, a partnership between Baywater Properties and an investment fund advised by True North Management Group, in the transaction. The team also procured the buyer, The Feil Organization. Tenants at the buildings include Raymond James, Sterling Investment Partners and IXM Trading.
NEW HAVEN, CONN. — California-based brokerage firm Matthews Real Estate Investment Services has negotiated the sale of a 133,650-square-foot industrial property located near the Port of New Haven. Ryan Rapoport and Kyler Bean of Matthews represented the undisclosed seller in the transaction. New York-based Criterion Group LLC purchased the asset for $21.4 million.
SHELTON, CONN. — Locally based REIT Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) has acquired Shelton Square, a 186,000-square-foot shopping center in Connecticut’s Fairfield County, for $33.6 million. Grocer Shop & Stop anchors the property with a 67,000-square-foot store and an additional 70,000-square-foot space that formerly housed a Bradlees department store. Other tenants at the center, which was 96.5 percent leased at the time of sale, include People’s United Bank, St. Vincent’s/Hartford Health, Burger King and Sport Clips. The seller was not disclosed.
STAMFORD, CONN. — A partnership between New York City-based investment firm Monday Properties and Washington Capital has acquired 75 Tresser, a 344-unit apartment community in Stamford, located in the southern coastal part of the state. The property features studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling stations, catering kitchen and a movie theater. Jeffrey Dunne and David Gavin of CBRE represented the undisclosed seller in the transaction. The property was 95 percent occupied at the time of sale.
BRIDGEPORT, CONN. — New York City-based Ready Capital has closed a $7.7 million loan for the acquisition, renovation and stabilization of a 63-unit multifamily property in Bridgeport, Conn. The nonrecourse, interest-only loan carried a 36-month term and a floating interest rate and includes a facility to fund capital improvements. The borrower was not disclosed.
SAN FRANCISCO — San Francisco-based Sansome Pacific has acquired a value-add portfolio of 10 retail and hospitality properties in California, Oregon, Connecticut, Illinois, Maine and New Hampshire for $20.6 million. The portfolio offers a total of 204,000 square feet. A majority of the properties feature below-market rents and short-term leases. The properties were acquired from a debt fund that buys loans encumbering underperforming mall properties. The two hotel assets, located in California, are 60-key properties. The retail assets include both single-tenant and multi-tenant buildings with lease terms ranging from one to six years along with freestanding pad buildings located near shopping malls. The larger mall assets are in various phase of renovation and will be upgraded in the coming years. Skyline Pacific Properties provided financing for the portfolio.
EAST WINDSOR, CONN. — BlueTriton Brands, a locally based beverage company formerly known as Nestlé Waters North America, has signed a 279,256-square-foot, full-building industrial lease in East Windsor. Built in 1979, the property features clear heights of 18 to 20 feet, more than 300 parking spaces and 5,000 square feet of office space. Chris Metcalfe and Jack Reed of CBRE represented the landlord, a joint venture between an affiliate of New York City-based Wharton Equity Partners and Boston-based Long Wharf Capital, in the lease negotiations. The building is currently undergoing a renovation, and the tenant plans to take occupancy in late February or early March.
PORTLAND, CONN. — Marcus & Millichap has brokered the sale of Stor U Self Storage, a 651-unit facility in Portland, located in Middlesex County in the central part of the state. The facility comprises 68,774 net rentable square feet across 528 climate-controlled units, 122 non-climate-controlled units and one commercial space. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Susan Bands of Marcus & Millichap assisted in closing the deal as the broker of record.
SHELTON, CONN. — Avison Young has brokered the $9 million sale of a 102,545-square-foot industrial property in Shelton, located in the southern coastal part of the state. The property was 61 percent leased to four tenants at the time of sale. Sean Cahill and Will Suarez of Avison Young represented the seller, Cambridge Hanover Inc., in the transaction. The duo also procured the buyer, an entity doing business as DG One Parrot Shelton LLC.