STRATFORD, CONN. — Locally based investment firm The Marsilio Group has sold a two-building, 60,353-square-foot distribution center in Stratford, located in the southern part of the state. The property was built on 3.8 acres in 1952 and is leased to four tenants, including anchor tenant FedEx. Colin Couch of Stan Johnson Co. represented the seller in the transaction. Dave Richard of Colliers International represented the buyer, a New York-based 1031 exchange investor. The deal traded for $6.1 million at a cap rate of 6.8 percent.
STAMFORD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of eaves Stamford, a 238-unit apartment community in southern Connecticut. The property consists of three residential buildings and 3,600 square feet of commercial space within the city’s Glenbrook neighborhood. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, AvalonBay Communities, and the buyer, Cue Residential, in the transaction.
NEW HAVEN, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of West Gate Townhomes, a 135-unit multifamily property in New Haven. Built on 10 acres in 1947, the community is located about four miles from Yale University and features one- and two-bedroom units. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, Eagle Rock Advisors LLC, and procured the buyer, West Gate Ventures LLC. The sales price was not disclosed.
NORWALK, CONN. — CBRE has negotiated the sale of a 198-unit multifamily portfolio in the coastal Connecticut city of Norwalk. The portfolio consists of the 129-unit Berkeley at Waypointe Apartments and the 69-unit Quincy Lofts. Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Eric Apfel of CBRE represented the owner, Alex. Brown Realty, while also procuring the buyer, Invictus Real Estate Partners.
BRISTOL, CONN. — Connecticut-based Chozick Realty has brokered the $43.4 million sale of a 12-building, 496-unit multifamily portfolio in Bristol. The properties were built in the 1960s and 1970s and range in size from 12 to 60 units. Steve Pappas of Chozick Realty represented the seller, Harvest Properties, in the transaction. Pappas also procured a New York-based owner-operator, which will implement a value-add program, as the buyer.
NEW HAVEN, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the sale of Westville Village Apartments, a 294-unit multifamily community in New Haven. Built on eight acres in 2008, the property offers amenities such as a clubhouse, fitness center, game room and outdoor courtyards. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
EAST HARTFORD, CONN. — Connecticut-based Goman + York has brokered the sale of a 57,000-square-foot property formerly known as William Seely School that is located near the junction of I-95 and State Routes 12 and 184 in East Hartford. The new owner, Connecticut-based DonMar Development, plans to redevelop the 14-acre property into a 280-unit apartment community. Goman + York represented the seller, the Town of Groton, in the transaction. A construction timeline for the redevelopment was not disclosed.
WILTON, CONN. — CBRE has negotiated the sale of a 136,531-square-foot office complex located at 187 Danbury Road in the southern Connecticut city of Wilton. The two-building complex was 47 percent leased at the time of sale and fetched a price of $10.7 million. A CBRE team of Jeffrey Dunne, Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride and Stuart MacKenzie represented the seller, an entity managed by Davis Marcus Partners, in the transaction. The team also procured the buyer, a group led by New York City-based Time Equities.
HARTFORD, PA. — Locally based brokerage firm Chozick Realty has negotiated the $9.6 million sale of Lafayette Arms Apartments, a 139-unit multifamily building in Hartford. Built in 1968, the four-story building predominantly features one-bedroom units. Tom Boyle of Chozick Realty marketed the property on behalf of the seller, Lafayette Arms LLC, and procured the buyer, a regional investment firm.
FAIRFIELD, CONN. — An entity managed by Davis Marcus Partners, which is a joint venture between Marcus Partners and The Davis Companies, has sold a boutique office building located at 2150 Post Road in the southern Connecticut city of Fairfield for $10 million. According to LoopNet Inc., the property was built in 1986 and spans roughly 51,000 square feet. A CBRE team of Jeffrey Dunne, Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride and Stuart MacKenzie represented the seller in the transaction and procured the buyer, a group led by Valley East Management. The property was 96 percent leased at the time of sale.