BROOKLYN, CONN. — Marcus & Millichap has brokered the $4.3 million sale of Brooklyn Commons, a retail center located about 45 miles east of Hartford. The 106,900-square-foot property was 60 percent leased at the time of sale to tenants including Ocean State Job Lot, Dollar Tree and Subway. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a private investor, in the transaction. The team also represented the buyer, an undisclosed limited liability company.
CHESHIRE, CONN. — O,R&L Commercial, a Connecticut-based brokerage firm, has negotiated a 22,000-square-foot lease in Cheshire, a city located about 25 miles southwest of Hartford. Baseball training company D-BAT will open its second Connecticut facility at the formerly vacant industrial property. Luke Massirio of O,R&L represented the landlord, Sky Management LLC, in the lease negotiations. Brett Sherman of Angel Commercial represented D-BAT.
GRISWOLD, CONN. — Dakota Partners, a Massachusetts-based developer, will build a 144-unit multifamily property in Griswold, about 50 miles east of Hartford. Dakota Partners purchased the land from Omega Healthcare for $1.3 million. More than 75 percent of the units will be leased as affordable housing. Construction is slated to begin in 2020. Ron Lyman of Lyman Real Estate represented both Dakota Partners and Omega Healthcare in the land sale.
Confluent, Harbor Retirement to Build 113-Unit Senior Living Community in South Windsor, Connecticut
SOUTH WINDSOR, CONN. — A partnership between Confluent Development, a Denver-based developer, and Harbor Retirement Associates will break ground this month on HarborChase of Evergreen Walk, a 113-unit senior living community in South Windsor, located near Hartford. The 111,915-square-foot community will offer one- and two-bedroom units and access to The Promenade Shops at Evergreen Walk, an outdoor mall with retail and restaurants. Milwaukee-based Plunkett Raysich Architects designed the project, and Whiting-Turner is the general contractor. Construction is slated for completion in December 2020.
MERIDEN, CONN. — Rockport Mortgage, a Massachusetts-based multifamily finance firm, has arranged a $26 million loan for Yale Acres, a 162-unit affordable housing community in Meriden, about 20 miles south of Hartford. Proceeds of the loan will be used to renovate 155 existing units and fund construction of an additional seven. The financing was originated through HUD’s 221(d)(4) program and carries a fixed interest rate and a 40-year amortization schedule. An affiliate of Meriden-based Carabetta Cos. will act as the general contractor on the project, which is slated for completion in 2021.
MERIDEN, CONN. — Capital Funding Group (CFG), a Baltimore-based lender, has provided a $2.8 million bridge-to-HUD loan for the refinancing of Meriden Mill, a 43-unit multifamily property in Meriden, about 20 miles south of Hartford. The owner and borrower, Manhattan Five Realty, will use a portion of the proceeds to fund future renovations. Gary Sever of CFG handled the transaction through HUD’s 223(f) refinance program, which is used to refinance market-rate multifamily properties.
GREENWICH, CONN. — CBRE has arranged the $67 million sale of a retail and office property in Greenwich, located about 30 miles north of New York City. The 62,850-square-foot property is located at 200 Greenwich Ave. on a retail corridor that also includes Tiffany, Gucci and Vineyard Vines. Jeffrey Dunne, David Gavin, Jeremy Neuer and Travis Langer of CBRE represented the landlord, 200 Greenwich Avenue LLC, in the transaction, and procured the buyer, Kensico Properties.
Northeast Private Client Group Brokers $14.2M Sale of Multifamily Property in Stratford, Connecticut
STRATFORD, CONN. — Northeast Private Client Group (NPCG) has brokered the $14.2 million sale of Sherwood and Shakespeare Apartments, a 128-unit multifamily property in Stratford. The property consists of three adjacent buildings at 112 Stratford Ave. Brad Balletto of NPCG represented the seller, Stratford-based Stratcon Properties LLC, in the transaction, and procured the buyer, a Bridgeport-based private investor.
STAMFORD, CONN. — Colliers International has arranged two office leases in Stamford, for a total 15,320 square feet. Law firm McCarter & English LLP has renewed a long-term lease for 11,058 square feet in the Canterbury Green building. Spruce Investment Advisors has renewed a five-year lease for 4,262 square feet in the 1 Stamford Plaza building. Jeffrey Williams and Hollis Pugh of Colliers arranged both leases. RFR Realty owns both properties.
STAMFORD, CONN. — JLL has negotiated the sale of AVA Stamford, a 304-unit multifamily property in Stamford, a city on the southwest coast of Connecticut. The property has since been renamed Sofi at 50 Forest. The 18-story tower offers one-, two- and three-bedroom units averaging more than 1,000 square feet, each equipped with laundry appliances and patios or balconies. Amenities include a heated pool, fitness center, clubhouse and a 1.1-acre private park with tennis courts. The property, construction of which was completed in 2001, was 95 percent occupied at the time of sale. Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Andrew Scandalios, Michael Oliver, Mark Mahasky and Grace Braverman of JLL represented the seller, AvalonBay Communities Inc., in the transaction. The buyer was West Coast-based multifamily investor Pacific Urban Residential. The exact sales price was undisclosed.