Connecticut

Digital Currency Group Signs 90,000 SF Office Lease in Stamford, Connecticut

by Taylor Williams December 1, 2021

STAMFORD, CONN. — Digital Currency Group, which invests in bitcoin and other blockchain technology companies, has signed a 90,000-square-foot office lease in Stamford. The company will occupy two floors at Shippan Landing, a 17-acre, six-building waterfront office campus that is owned by a joint venture between an affiliate of Rubenstein Partners LP and George Comfort & Sons. The lease term is 12 years, and Digital Currency Group plans to relocate from 250 Park Avenue in Manhattan in late 2022. Michael Mathias of Savills represented the tenant in the lease negotiations. Trip Hoffman, Mike Norris and Adam Klimek of Cushman & Wakefield, along with internal agents Peter Duncan and Dana Pike, represented ownership.

December 1, 2021

Connecticut Development Industrial Leasing Activity Northeast Office

JLL Negotiates 80,000 SF Industrial, Office Lease in Shelton, Connecticut

by Taylor Williams November 30, 2021

SHELTON, CONN. — JLL has negotiated an 80,000-square-foot build-to-suit commercial lease in Shelton, located in the southern coastal part of Connecticut. The tenant, Ranpak Corp., a provider of paper-based packaging products, has committed to 33,000 square feet of office space and 47,000 square feet of research and development and warehouse space. Evan Behr, Ian Ceppos and Patrick Lennon of JLL represented the tenant in the lease negotiations. JLL also represented Ranpak in its site selection and is overseeing development of the space, which was designed by Locus Design Collaborative. Construction of the space, which will also house a showroom and innovation center, is expected to be complete by the fourth quarter of next year.

November 30, 2021

Acquisitions Connecticut Industrial Northeast

Colliers Brokers Sale of 200,950 SF Industrial Flex Portfolio in Hartford Area

by Taylor Williams November 29, 2021

EAST HARTFORD AND WINDSOR, CONN. — Colliers has brokered the sale of The David Associates Connecticut Portfolio, a collection of three industrial flex buildings in the Hartford area totaling 200,950 square feet. Ian Hunt, Nick Morizio and John Cafasso of Colliers represented the undisclosed seller in the transaction. A New Jersey-based private investor purchased the portfolio, which was 90 percent leased at the time of sale, for $13.2 million.

November 29, 2021

Connecticut Industrial Loans Northeast

Cronheim Arranges $10M Permanent Loan for Connecticut Industrial Facility Leased to Amazon

by Taylor Williams November 22, 2021

ORANGE, CONN. — New Jersey-based Cronheim Mortgage has arranged a $10 million permanent loan for a 137,670-square-foot industrial facility in Orange, located in the southern coastal part of the state. Formerly occupied by Sam’s Club, the property was recently converted to a van and truck parking facility for Amazon. Dev Morris, Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the 10-year, interest-only loan on behalf of the undisclosed borrower.

November 22, 2021

Acquisitions Connecticut Multifamily Northeast

CBRE Negotiates Sale of 250-Unit Tannery Apartments in Glastonbury, Connecticut

by Taylor Williams November 17, 2021

GLASTONBURY, CONN. — CBRE has negotiated the sale of The Tannery, a 250-unit apartment community in Glastonbury, a southern suburb of Hartford. Built in 2017, The Tannery offers a pool, sundeck with grilling areas, fitness center with a yoga studio, dog park, gaming area and a resident lounge. Units feature stainless steel appliances, granite countertops and wood-style vinyl plank flooring. Jeffrey Dunne, Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, a partnership between Lexington Partners LLC and a fund advised by UBS Realty Investors LLC, in the transaction. The team also procured the buyer, Jones Street Investment Partners.

November 17, 2021

Connecticut Loans Multifamily Northeast

JLL Arranges $53.5M Acquisition Loan for Apartment Complex in Stamford, Connecticut

by Taylor Williams November 8, 2021

STAMFORD, CONN. — JLL has arranged a $53.5 million acquisition loan for Glenview House, a 146-unit apartment complex in Stamford. The property offers one-, two- and three-bedroom units that average 1,280 square feet and are furnished with stainless steel appliances and full-size washers and dryers. Amenities include a pool, courtyard, outdoor grilling area, fitness center, clubroom with a bar and a business center. Elliott Throne, Mona Carlton, Alex Staikos, Amit Kakar and Kenny Cutler of JLL arranged the three-year, floating-rate loan through MetLife Investment Management on behalf of the borrower, Beachwold Residential.

November 8, 2021

Connecticut Leasing Activity Northeast Office

Philip Morris Signs 71,484 SF Office Headquarters Lease in Stamford, Connecticut

by Taylor Williams November 5, 2021

STAMFORD, CONN. — Philip Morris International (NYSE: PM) has signed a 71,484-square-foot office lease for its new headquarters at 677 Washington Blvd. in Stamford, located in the southern coastal part of Connecticut. The lease term is 12 years. The tobacco giant will relocate from 120 Park Avenue in Manhattan beginning in late 2022. Richard Bernstein and Steven Baker of Cushman & Wakefield represented the tenant in the lease negotiations. Peter Duncan and Dana Pike represented the landlord, George Comfort & Sons, on an internal basis.

November 5, 2021

Connecticut Loans Multifamily Northeast

JLL Provides $20.4M Agency Loan for Refinancing of Multifamily Asset in East Haven, Connecticut

by Taylor Williams November 3, 2021

EAST HAVEN, CONN. — JLL has provided a $20.4 million Freddie Mac loan for the refinancing of 510 Main, a 214-unit multifamily asset in East Haven, located in the southern coastal part of the state. The property features studio and one-bedroom units that range in size from 425 to 482 square feet and include private balconies/patios. The amenity package consists of a fitness center, coffee bar, a Wi-Fi resident lounge and a package locker system. Elliott Throne, Mona Carlton, Alex Staikos and Amit Kakar of JLL originated the 10-year, fixed-rate loan on behalf of the borrower, Beachwold Residential.

November 3, 2021

Acquisitions Connecticut Industrial Northeast

Wharton Industrial, Long Wharf Acquire 279,256 SF Warehouse in East Windsor, Connecticut

by Taylor Williams October 25, 2021

EAST WINDSOR, CONN. — A joint venture between Wharton Industrial, an investment arm of New York City-based Wharton Equity Partners, and Boston-based Long Wharf Capital has acquired a 279,256-square-foot warehouse in Connecticut. The property, which is located in East Windsor, a northern suburb of Hartford, was built on 40 acres in 1979. Building features include a clear height of 18 to 20 feet, over 300 parking spaces and 5,000 square feet of designated office space. Chris Metcalfe and Jack Reed of CBRE brokered the deal and will also handle leasing of the property on behalf of the new ownership, which will implement a capital improvement program.

October 25, 2021

Acquisitions Connecticut Northeast Retail

JLL Negotiates $20.2M Sale of Retail Center Wallingford, Connecticut

by Taylor Williams October 20, 2021

WALLINGFORD, CONN. — JLL has negotiated the $20.2 million sale of a 160,000-square-foot retail center in the New Haven suburb of Wallingford that is anchored by North Carolina-based Lowe’s Home Improvement. Nat Heald and Chris Angelone of JLL represented the seller, Davenport Cos., in the transaction. The buyer was not disclosed. The property was fully leased at the time of sale.

October 20, 2021

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