Connecticut

O,R&L Commercial Negotiates $1.5M Sale of Former Medical Building in East Hartford

by David Cohen April 20, 2018

EAST HARTFORD, CONN. — O,R&L Commercial has negotiated the sale of a 30,544-square-foot, former medical building in East Hartford for $1.5 million. The buyer, Ash Street Holdings LLC doing business as KIA of East Hartford Inc., plans to completely renovate and expand the building, which is located at 99 Ash St. After renovations, Kia of East Hartford will move from its current location, 540 Connecticut Blvd. Jay L. Morris and Luke Massirio of O,R&L Commercial represented the seller in the transaction, Ash Realty Associates LLC. Colliers International represented the buyer. The vacant property was built in 1981 and is the former home of UCONN Health.

April 20, 2018

Acquisitions Connecticut Mixed-Use Northeast

RHYS Arranges $4.3M Sale of Mixed-Use Building Near Norwalk

by David Cohen April 19, 2018

WILTON, CONN. — Commercial real estate services firm RHYS has arranged the $4.3 million sale of 59 Danbury Road in Wilton, about seven miles north of Norwalk. The 32,270-square-foot mixed-use building was built in 1959 and fully renovated in 2007. Cory Gubner, Christian Bangert and Alex Haendler of RHYS represented the seller, New York City-based Caroline APTS Co., and the buyer, New England Investment Partners. The property is currently fully leased to two tenants: ASML, a semiconductor company; and Building Blocks Learning Center, an early childhood learning center.

April 19, 2018

Acquisitions Connecticut Northeast

R.D. Scinto Pays $1.5M for Land, Plans to Build Retail Center in Southern Connecticut

by David Cohen April 10, 2018

SHELTON, CONN. — R.D. Scinto Co. has purchased a 2.83-acre parcel of land in Shelton for the construction of a 27,000-square-foot retail center. Shelton is 10 miles west of New Haven. The land was purchased from 900 Shelton Plaza Associates for $1.5 million, or just over $530,000 per acre. When completed, the building will be a single-story center with a terra cotta exterior. Bruce Wettenstein of Vidal/Wettenstein was the listing broker and also represented R.D. Scinto in the transaction. Cohen & Thomas PC provided legal counsel for the seller.

April 10, 2018

Acquisitions Connecticut Northeast Office

RHYS Arranges Sale of Office Building in Southern Connecticut for $5M

by David Cohen April 9, 2018

FAIRFIELD, CONN. — RHYS has arranged the sale of 1 Eliot Place, a 25,000-square-foot office building in Fairfield, approximately 25 miles southwest of New Haven. Rockwest Real Estate Partners purchased the three-story property, which was constructed in 1985, for $5 million. The building is fully leased. The seller was FNL Enterprises. Alex Haendler, Ted Grogan and Greg Romano of RHYS were the sole brokers in the transaction. An office of Northwestern Mutual Insurance Co. is the building’s largest tenant. The Fairfield office market has recorded 15 percent rent growth since 2015, according to RHYS.

April 9, 2018

Acquisitions Connecticut Northeast Retail

New England Retail Properties Facilitates Sale of Tractor Supply in Suburban Hartford for $3.6M

by David Cohen April 5, 2018

FARMINGTON, CONN. — New England Retail Properties has brokered the sale of the Tractor Supply store located at 361 Scott Swamp Road in Farmington for $3.6 million. New England Retail Properties arranged the transaction between the seller, AEI Property Corp., and the buyer, 361 Scott Swamp Road LLC. The property, a former Frank’s Nursery & Crafts, was acquired in 2010 and opened in 2011 as a Tractor Supply store after a retrofit of the building and grounds. The property, which is nine miles west of Hartford, serves the Farmington, Burlington, Plainville and surrounding markets. Founded in 1939, Tractor Supply has more than 1,700 stores in 49 states.

April 5, 2018

Acquisitions Connecticut Industrial Northeast

Pearce Real Estate Brokers $1M Sale of Industrial Facility in Milford

by David Cohen April 3, 2018

MILFORD, CONN. — Pearce Real Estate has brokered the sale of an 18,634-square-foot industrial facility in Milford for $1 million. The property is located at 363 Naugatuck Ave., 14 miles south of New Haven. John Bergin of the Pearce Commercial Milford office represented the buyer, 363 Naugatuck Ave. LLC, and the seller, Travco of Milford LLC, in the transaction. United Rentals has leased the property for the past 17 years.

April 3, 2018

Connecticut Loans Northeast

Washington Trust Provides $2.7M in Refinancing for Flex Property in Wallingford

by David Cohen April 2, 2018

WALLINGFORD, CONN. — Washington Trust has provided $2.7 million for the refinancing of a multi-tenant flex commercial property in Wallingford, located halfway between New Haven and Hartford off I-91. The one-story building is located within Barnes Industrial Park and includes 41,284 square feet of office and industrial space. The borrowers are long-term clients of Washington Trust.

April 2, 2018

Acquisitions Connecticut Multifamily Northeast

IPA Arranges Sale of 518-Unit Multifamily Portfolio in Connecticut for $62.6M

by David Cohen March 30, 2018

MIDDLETOWN, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of a two-property, 518-unit apartment portfolio located in the Westlake District of Middletown for $62.6 million. The portfolio includes Middletown Brooke, a 280-unit apartment community with eight residential buildings, and Middletown Ridge, a 238-unit apartment community with nine residential buildings. The properties were constructed in 1988 and 1989. IPA represented the seller, Fairfield Midtown Ridge LP, and procured the buyer, Hamilton Zanze and Co. Middletown is located 16 miles south of Hartford and 26 miles north of New Haven.

March 30, 2018

Acquisitions Connecticut Northeast Retail

HFF Brokers Sale of 382,864 SF Shopping Center in Connecticut

by David Cohen March 29, 2018

WATERBURY, CONN. — HFF has brokered the sale of Naugatuck Valley Shopping Center, a 382,864-square-foot, grocery-anchored shopping center in Waterbury. HFF represented the undisclosed seller and procured the buyers, Premium Property and BH Premium Quality Waterbury. The 50.5-acre shopping center at 950 Wolcott St. offers 2,155 parking spaces and is anchored by the region’s highest grossing Walmart. Other tenants include Panera Bread, Bob’s Stores and Wendy’s. The sale price was not disclosed.

March 29, 2018

Connecticut Industrial Loans Northeast Office

Washington Trust Provides $6.6M in Financing for Multi-Tenant Flex Property in Connecticut

by David Cohen March 20, 2018

TRUMBULL, CONN. — Washington Trust’s Commercial Real Estate Group has provided $6.6 million to refinance and make tenant improvements to an 83,193-square-foot multi-tenant office and industrial property in Trumbull. The 14-acre property located at 60 Commerce Drive is the former headquarters of the Pilot Pen Corp. and consists of two interconnected buildings. The front building is three levels totaling 15,505 square feet of office space while the rear building contains 67,688 square feet of office and industrial space. 60 Commerce Drive is owned by CH Commerce Drive Associates and City Park Commerce Drive.

March 20, 2018

Newer Posts

Older Posts

Upcoming Events

Jan
22