ORANGE, CONN. — Scannell Properties is underway on construction of a 47,178-square-foot distribution center in Orange, a western suburb of New Haven. Located at 161 Marsh Hill Road, the facility will feature 76 loading docks, 5,858 square feet of office space and an additional 9,680-square-foot maintenance facility. Meridian Design Build is the general contractor. Construction is slated for completion in June 2020.
NEW HAVEN, CONN. — HJ Sims has secured a $45.8 million construction loan for The Mary Wade Home, a seniors housing property in New Haven that offers a skilled nursing center, residential care home services, adult day medical health center, physical rehabilitation and transportation services. The borrower, Mary Wade, is expanding by adding an assisted living and memory care building on parcels of nearby land acquired over several years. This new building, when delivered in 2021, will complete the continuum of care by enabling residents with assisted living needs to remain in the community as their needs change over time.
ORANGE, CONN. — CBRE has arranged the $35 million sale of Grand Reserve Orange, a 168-unit apartment community located in Orange, a western suburb of New Haven. Built in 2005, Grand Reserve Orange offers one-, two- and three-bedroom floor plans with amenities including a fitness center, resident clubhouse and pool. Jeffrey Dunne, Gene Pride, Eric Apfel, Simon Butler and Biria St. John of CBRE represented the seller, Fairfield Grand Reserve LLC. The team also procured the buyer, a private New Jersey investment firm.
BRANFORD, CONN. — Lyman Real Estate (LRE) has arranged the $1.1 million sale of a 9,331-square-foot retail building in Branford, an eastern suburb of New Haven. The building at 854 West Main St. was previously occupied by Party City. Ron Lyman of LRE represented the buyer, LA-IN-USA LLC, in the transaction. Jeffrey Kravet of Kravet Realty represented the seller, Branford Realty Trust LLC.
STAMFORD, CONN. — Recycling and sustainability organization Keep America Beautiful has signed an 8,500-square-foot office lease renewal in Stamford, located approximately 35 miles northeast of New York City. As part of the renewal agreement, the landlord agreed to pay for interior renovations, including a kitchen and restroom remodel and enhancements to the lighting and HVAC systems at the property, which serves as the organization’s headquarters. John Hannigan and Adam Cognetta of Choyce Peterson Inc. represented Keep America Beautiful in the lease negotiations. Larry Kwiat of SL Green Realty Corp. represented the landlord on an internal basis.
STRATFORD, CONN. — Video game and prop rental company Arcade Specialties LLC has signed a 9,120-square-foot industrial sublease in Stratford, located approximately 15 miles southwest of New Haven. The company is moving its headquarters from 955 Connecticut Ave. in Bridgeport to 40 Mead St. in Stratford. Jon Angel of Angel Commercial LLC represented Arcade Specialties in the sublease negotiations. Hodson Realty represented the tenant. Arcade Specialties supplies retro arcade games, pinball machines, foosball tables and Chexx hockey tables for corporate and residential parties, prop rentals and photo shoots.
DANBURY, CONN. — CBRE brokered the $7.6 million sale of 4 Mountainview Terrace, a 64,255-square-foot office complex in Danbury, located approximately 30 miles west of New Haven. The property was 81 percent occupied at the time of the sale. Louis Zuckerman and Patrick Colwell of CBRE represented the landlord, 101 East Ridge LLC, and procured the undisclosed buyer in the transaction.
BRIDGEPORT, CONN. — Mental Health Connecticut Inc. (MHC) has signed a 3,020-square-foot office lease at 4920 Main Street in Bridgeport, located approximately 20 miles southwest of New Haven. The lease term is for 5 years. Alan Fischer of Fischer Commercial Real Estate represented MHC in the lease negotiations. Ciara McConn of Bayberry Property Management & Leasing represented the landlord, 4920 Main Street Associates LLC.
STAMFORD, CONN. — CBRE has arranged the $12.4 million sale of a 10-acre parcel in Stamford, a northeastern suburb of New York City. The parcel currently houses a vacant 196,000-square-foot office building. The buyer, a partnership between National Development and Epoch Senior Living, plans to redevelop the property into a 150-unit independent and assisted living senior housing community called Waterstone on High Ridge. National Development intends to raze 110,000 square feet of the existing building as part of the redevelopment project. Jeffrey Dunne, Steven Bardsley, Gene Pride, Jeremy Neuer and David Gavin of CBRE represented the Seller, Steven Wise Associates LLC.
GLASTONBURY, CONN. — Northeast Private Client Group (NPCG) has brokered the $11.4 million sale of Addison Mill Lofts, a multifamily property in Glastonbury, a southeastern suburb of Hartford. The property formerly served as a historic mill and was converted into a multifamily building with 55 apartments in studio, one- and two-bedroom floor plans. Brad Balletto, Rich Edwards and Jeff Wright of NPCG represented the seller, Addison Mill LLC, in the transaction. The team also procured the buyer, a private investor based in New York.