NEW HAVEN, CONN. — Marcus & Millichap has arranged the $3.8 million sale of Georgetown Apartments, a 32-unit apartment community in New Haven. Located at 241 Quinnipiac Ave., the property features townhouse-style apartments with two-bedroom floor plans. The property offers convenient access to Yale University, Albertus Magnus College and University of New Haven. Wes Klockner and Eric Pentore of Marcus & Millichap brokered the sale and arranged acquisition financing through Freddie Mac on behalf of the buyer. Both parties were limited liability companies that requested anonymity.
BLOOMFIELD, CONN. — Chozick Realty has brokered the $12 million sale of Wedgewood apartments, a 112-unit apartment community in Bloomfield, a northern suburb of Hartford. The community was constructed in the 1960s and features one-, two- and three-bedroom apartments. The seller was a local family office. The buyer was a regional investor that targets garden-style apartments. Both parties involved in the transaction requested anonymity.
NEW HAVEN, CONN. — Greystone has arranged a $50 million construction loan for a multifamily project that will be located at 44 Olive St in New Haven. BMO Harris Bank, a subsidiary of BMO Financial Group, provided the loan on a three-year initial term. The borrower, Adam America Real Estate, will use the loan to finance construction of a six-story multifamily building with 299 units and 6,100 square feet of ground-floor retail space. Drew Fletcher and Matthew Hirsh of Greystone arranged the loan. Construction is slated to be complete by August 2022.
SOUTHPORT, CONN. — Four tenants have signed office leases totaling 37,500 square feet at Southport Crossing, an office building located approximately 25 miles west of West Haven. Savills represented Counseling service Discovery Practice Management Inc., which leased 6,453 square feet. Angel Commercial LLC represented retail mortgage lender Guaranteed Rate Inc. and Professional Physical Therapy, which leased 2,600 square feet and 5,168 square feet, respectively. Newmark Knight Frank represented Lincoln Healthcare Information Co., which leased 8,400 square feet. All tenants will move into their new spaces immediately. Jon Angel of Angel Commercial LLC represented the landlord, a private investor, in the lease negotiations.
WEST HAVEN, CONN. — Houlihan-Parnes Realtors LLC has brokered the $2.1 million sale of Woodlawn Shopping Center, a 31,150-square-foot retail center in West Haven, a southwestern suburb of New Haven. At the time of sale, space at the shopping center was leased to 10 retail tenants including several restaurants, a bowling alley and a beauty salon. The property also includes a 20,000-square-foot vacant parking lot across the street. Jeremiah Houlihan of Houlihan-Parnes represented the buyer, a family-owned real estate holding and managing company based in Yonkers, New York. The seller was undisclosed.
WALLINGFORD, CONN. — O,R&L Commercial LLC has brokered the sale of a 17,600-square-foot retail property in Wallingford, a northern suburb of New Haven, for $1.6 million. The property is located at 200 Church St., on State Route 68. At the time of sale, the property was 100 percent leased to a mix of restaurants, retailers, a printing and marketing company and a recycling center. Rich Guralnick and Toby Brimberg of O,R&L Commercial represented the seller, a private trust, in the transaction. Phil Marshall of O,R&L represented the buyer, Northern Star CT Inc.
NORWALK, CONN. — Bob’s Discount Furniture has opened a 30,000-square-foot store in Norwalk, a western suburb of Bridgeport. The Manchester, Connecticut-based retailer operates 122 stores across 18 states. The store, which is Bob’s ninth in Connecticut, is located at 59 Connecticut Ave. The building was formerly leased to Toys ‘R’ Us. Benderson Development acquired the property during the toy retailer’s asset liquidation.
NORWALK, CONN. — Talonvest Capital Inc., a California-based self-storage advisory firm, has arranged a $16.5 million bridge loan for the refinancing of Secure Self Storage, a 766-unit facility in Norwalk, an eastern suburb of Stamford. A Midwest-based bank provided the 42-month loan, which carried 36 months of interest-only payments. Located at 587 Connecticut Ave., the property totals 72,490 square feet. Eric Snyder, Kim Bishop and Jim Davis led the Talonvest team that arranged the loan. A joint venture between TVG Partners and Clark Investment Group was the borrower.
WILTON, CONN. — A nonprofit movie theater will open in Wilton, Connecticut, located approximately 15 miles from Stamford. Located at 21 River Road, The Prospector Theater will be a four-screen venue that will employ adults with mental and physical disabilities. The theater will take over the space previously occupied by Bow Tie Cinema in the Wilton River Park shopping center. Ira Mitchell and Luis Matos of IJM Enterprises Ltd. represented the theater in the lease negotiations. Amy Daniels represented the landlord, Kimco Realty, on an internal basis.
WESTBROOK, CONN. — Lyman Real Estate has negotiated a 4,000-square-foot industrial lease in Westbrook, located approximately 30 miles east of New Haven. Septic system servicer Skips Wastewater Services plans to occupy the space at 132 Cross Road beginning in March. Ron Lyman of Lyman Real Estate represented Skips Wastewater in the lease negotiations. Lyman also represented the landlord, 132 Cross Road LLC.