Connecticut

Metro-Center-Stamford

STAMFORD, CONN. — Newmark has arranged a $51.8 million acquisition loan for Metro Center, a 282,589-square-foot office building in the southern coastal Connecticut city of Stamford. Metro Center was originally built in 1987 and has undergone more than $12 million in recent capital improvements. Tenants include law firm Robinson + Cole and Roth Capital. Christopher Kramer, Chris Lozinak and Jordan Roeschlaub of Newmark arranged the loan through Knighthead Funding on behalf of the new owner, local investment firm HB Nitkin Group. Newmark also represented the undisclosed seller in the disposition of the building and has been retained as the leasing agent.

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NORWALK, CONN. — CBRE has brokered the sale of a four-building, 945,000-square-foot office park in the southern coastal Connecticut city of Norwalk. The buildings are part of a larger, six-building development known as Merritt 7, which houses the headquarters of companies such as Xerox, Terex, Emcor, Hearst Connecticut Media Group, Common Fund, Datto/Kaseya, MBI and LBB Specialties. Jeff Dunne, Steven Bardsley and Travis Langer of CBRE represented the seller, an entity doing business as Merritt 7 Venture LLC, in the transaction. The duo also procured the buyer, New York-based Argent Ventures.

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180-200-Glastonbury-Road

GLASTONBURY, CONN. — CBRE has brokered the $27.7 million sale of an office complex within the Somerset Square mixed-use development in Glastonbury, located just southeast of Hartford. The two-building, 185,000-square-foot complex was 95 percent leased at the time of sale to 38 tenants, including Wells Fargo, Merrill Lynch and RBC Capital Advisors. John McCormick, Anna Kocsondy, Jeffrey Dunne and Steve Bardsley of CBRE represented the undisclosed seller in the transaction. The buyer was a New York-based entity doing business as Unified Holdings of Glastonbury LLC.

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BRISTOL, CONN. — JLL has brokered the sale of Bristol Plaza, a 263,829-square-foot shopping center located approximately 20 miles southwest of Hartford, for $44.4 million. Anchored by regional grocer Stop & Shop, Bristol Plaza was 93.1 percent leased at the time of sale. Other tenants include T.J. Maxx, Burlington, Dollar Tree and Starbucks. Chris Angelone, Zach Nitsche, Alex Quinn, Sam Wiesman and Henry Schaffer of JLL represented the seller, Federal Realty Investment Trust, in the deal. The buyer was Sterling Organization.

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Benedict-Court-Greenwich-Connecticut

GREENWICH, CONN. — Cushman & Wakefield has arranged an $88 million construction loan for Benedict Court, a 120-unit multifamily project that will be located in the southern coastal Connecticut city of Greenwich. Benedict Court will consist of 72 market-rate apartments and 48 affordable housing units. Amenities will include a rooftop deck, a resident lounge with a chef’s kitchen, coworking spaces, children’s playroom and a fitness center. Gideon Gil, Taylor Geiger, Cecelia Galligan and Nick Pappas of Cushman & Wakefield arranged the loan through Santander Bank. The borrower is a partnership between Lonicera Partners, Nimbus Properties and Benedict Capital. Construction is now underway, and completion is slated for summer 2028.

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TRUMBULL, CONN. — Locally based brokerage firm Vidal/Wettenstein has negotiated the $3.7 million sale of a 112,544-square-foot office building in the southern coastal Connecticut city of Trumbull. The buyer, Kubtec, a provider of digital imaging equipment, will convert the first two floors of the building at 75 Merritt Blvd. to support its production, assembly and quality control initiatives. Bruce Wettenstein of Vidal/Wettenstein represented the buyer in the transaction. Alan Fischer of Fischer Real Estate represented the seller, Sachem Capital Corp.

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NEW LONDON, CONN. — Connecticut College, a liberal arts institution in New London, has completed the renovation of a campus center that was originally constructed in 1957. Known as the College Center at Crozier-Williams, the 65,0000-square-foot facility houses flexible study and gathering spaces, dining space, a relocated pub with event space and a landscaped terrace with a student garden. KSS Architects led the design of the renovation, which the college executed along with project manager Colliers.

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110-High-Ridge-Road-Stamford

STAMFORD, CONN. — CBRE has negotiated the sale of a 153,416-square-foot shopping center in Stamford, located in southern coastal Connecticut. Whole Foods Market and Saks OFF Fifth anchor the center at 110 High Ridge Road, which is a redevelopment of a former Lord & Taylor department store into a multi-tenant center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, HBS Global Properties, in the transaction. The trio also procured the buyer, an entity doing business as 110 High Ridge Road LLC.

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OLD LYME, CONN. — A partnership between Zelco Properties & Development, Grossman Development Group and The McDevitt Co. has acquired a 102,500-square-foot shopping center in Old Lyme, located in southern coastal Connecticut. Anchored by Big Y World Class Market, Old Lyme Marketplace is also home to tenants such as Walgreens, Grand Wine & Spirits and The Bowerbird Gift Shop. The seller and sales price were not disclosed.

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Shops-at-Evergreen-Walk-South-Windsor-Connecticut

SOUTH WINDSOR, CONN. — CBRE has negotiated the $98.2 million sale of The Shops at Evergreen Walk, a 357,742-square-foot retail power center located outside of Hartford in South Windsor. A newly opened Whole Foods Market anchors the center, which is located within a larger master-planned development. Other tenants include L.L. Bean, Apple, Anthropologie, Pottery Barn, Williams-Sonoma, lululemon, Golf Lounge 18, J.Crew Factory, Gap Factory, Nike and Bluemercury. Nat Heald led the CBRE team that represented the seller, PGIM Real Estate, in the transaction. Scott Aiese led a JLL team that arranged a $76.9 million acquisition loan through an unnamed international bank on behalf of the buyer, a joint venture between Brand Street Properties and Barings. Chris Angelone and Zach Nitsche, also with JLL, structured the joint venture equity investment.

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