Connecticut

800-connecticut-avenue

NORWALK, CONN. —CBRE has brokered the sale of 800 Connecticut Avenue, a 412,231-square-foot, Class A office park in Norwalk, located approximately 10 miles west of Stamford. Tenants include Booking Holdings, Priceline and Hitachi Capital America Corp. Amenities include a 6,400-square-foot conference center, an outdoor plaza, fitness center and a cafeteria. Jeffrey Dunne, David Gavin, Steven Bardsley, Jeremy Neuer, Gene Pride and Travis Langer of CBRE represented the undisclosed seller in the transaction. The CBRE team also procured the buyer, KH 800 Connecticut Avenue LLC, a subsidiary of Kamran Hakim.

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new-haven-hotel-ct

NEW HAVEN, CT. — Noble Investment Group has acquired the 135-room New Haven Hotel at Yale University. Noble plans to reposition the hotel to capitalize on the area, which includes Yale University and the Yale-New Haven Hospital, the primary teaching hospital for the Yale School of Medicine and the Yale School of Nursing. The hotel features a business center and fitness center as well as 1,000 square feet of flexible meeting space. The sales price was undisclosed.

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Greenwhich-plaza-ct

GREENWICH, CONN. — PGIM Real Estate Finance has provided a $150 million refinancing loan for Greenwich Plaza, a two-building office complex located in Greenwich, a western suburb of Stamford. The Ashforth Co., which owns the property, plans to use proceeds from the refinancing for the redevelopment of the Greenwich Train Station transportation center. Originally developed by Ashforth in 1970, Greenwich Plaza comprises two four-story office buildings totaling 325,100 square feet. Tom Goodsite of PGIM Real Estate Finance led the transaction on behalf of the firm. Ken Ziebelman and Ethan Pond of Eastdil Secured arranged the financing.

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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.

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mary-wade-ct

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.

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grand-reserve-orange-ct

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.

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Branford-854 West Main St-Main Pic-1B

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.

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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.

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arcade-specialties-stratford-ct

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.

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4-mountainview-terrace-danbury-conn

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.

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