NORTH HAVEN, CONN. — Locally based brokerage firm Pearce Commercial has negotiated a 4,500-square-foot industrial lease at 355 Sackett Point Road in North Haven. According to LoopNet Inc., the property was built in 1988 and totals 64,000 square feet. Dave Melillo of Pearce Commercial represented the tenant, Greenskies Renewable Energy LLC, and the landlord, 355 Sackett Point Road LLC.
MYSTIC, CONN. — Locally based Lattizorri Development has completed Harbor Heights, a 121-unit luxury apartment community in the coastal Connecticut city of Mystic. The property is part of the Perkins Farm master-planned community and offers one- and two-bedroom units with stainless steel appliances, nickel hardware and granite countertops. Amenities include a pool, outdoor grilling area, fitness center and a dog park. Rents start at $1,600 per month for a one-bedroom unit and $2,100 per month for a two-bedroom unit.
GREENWICH AND DARIEN, CONN. — Axiom Capital Corp. has arranged $8.2 million in permanent financing for two commercial buildings in Greenwich and Darien. One of the properties was built in 1927 and features 13 apartments plus ground-floor retail space. The other building was constructed in 2007 and features office and retail space. Both assets were fully occupied at the time of the loan closing. The borrower was not disclosed.
CLINTON, CONN. — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Shoreline of Clinton, a 48-unit memory care community in Clinton, located on Long Island Sound east of New Haven. The community was renovated in 2015, but due to high levels of competition was still marketed as a value-add opportunity. A New York-based owner-operator acquired the property. The seller and price were not disclosed.
HARTFORD, CONN. — CBRE has brokered the sale of a $16.3 million multifamily portfolio in the Connecticut capital city of Hartford. The portfolio spans two properties, a 165-unit community at 873 West Blvd. and a 52-unit property at 748 New Britain Ave. Jeffrey Dunne, Gene Pride, Eric Apfel, Jeremy Neuer, Steven Bardsley, David Gavin, Simon Butler and Biria St. John of CBRE represented the seller, a partnership between Forum Capital Partners and Cantor Real Estate, in the transaction. The team also procured the buyer, New York-based private investment firm 25th Century, which will implement a value-add program.
NEW HAVEN, CONN. — Marcus & Millichap Capital Corp. has arranged a $4 million loan for the refinancing of a portfolio of 13 multifamily properties totaling 45 units in New Haven. The portfolio was fully occupied at the time of the loan closing. Robert Noeldechen of Marcus & Millichap arranged the loan through CoreVest Finance on behalf of the undisclosed borrower.
ORANGE, CONN. — Marcus & Millichap has brokered the $7.2 million sale of an 84,200-square-foot retail property in Orange, a southern suburb of New Haven. The property is situated on eight acres and is net leased to Urban Air Adventure Park, an entertainment concept that features trampolines, zip lines, laser tag and virtual reality games. Derrick Dougherty and Mark Krantz of Marcus & Millichap represented the seller, Bull Hill Associates, in the transaction. Brian Kaplan, also with Marcus & Millichap, represented the buyer, a limited liability company.
ORANGE, CONN. — Locally based brokerage firm Pearce Real Estate has negotiated the sale of 70 percent of the medical condominium units at Springbrook Common, a 35,000-square-foot medical office complex in the New Haven suburb of Orange. The property was built in 2008 and is leased to tenants such as U.S. Renal Dialysis, Physical Therapy & Sports Medicine and the Connecticut Kidney Center. Carl Russell of Pearce Real Estate represented the seller, a partnership between Springbrook Common LLC and Lakehouse Properties LLC, in the transaction. Nick Mastrangelo and Tom Cavaliere of Coldwell Banker represented the buyer, Water Street Management LLC.
STRATFORD, CONN. — Italian food supplier Nuovo Pasta Productions has signed a 35,492-square-foot industrial lease in Stratford. The space is located within a former food storage and distribution facility at 849 Honeyspot Road in Stratford Industrial Park, Nuovo Pasta signed a 10-year lease at the facility. Bruce Wettenstein of Vidal/Wettenstein represented Nuovo Pasta in the lease negotiations. George Shawah Jr. of Baldwin Pearson & Co. Inc. represented the undisclosed landlord.
STAMFORD, CONN. — CIT Group Inc. has provided a $35.9 million construction loan for a 183-unit apartment building in Stamford. The borrower was a joint venture between New Jersey-based developer Fields Development Group and Alpine Residential. The project will be located on Canal Street near the Metro North railway station and will include ground-floor retail space. Chris Niederpruem of CIT Group originated the loan.