Connecticut

Calare Properties Acquires 915,000 SF Office Complex in Wallingford, Connecticut

by Amy Works February 23, 2018

WALLINGFORD, CONN. — Calare Properties has acquired an office and research-and-development complex located at 5 Research Parkway in Wallingford, for an undisclosed price. The undisclosed corporate seller and user will vacate the 915,000-square-foot property this year. Situated on 180 acres, the campus features an 830,000-square-foot main office and lab complex that is supported by outer buildings, including a materials handling facility, a central utility plant and a child development center. Jim Panczykowski of Binswanger Management Corp. represented the seller in the deal.

February 23, 2018

Connecticut Hospitality Loans Northeast

Money360 Funds $7.5M Loan for 215-Room Hotel in Cromwell, Connecticut

by Amy Works February 15, 2018

CROMWELL, CONN. — Money360 has funded a $7.5 million bridge loan for a hotel in Cromwell. The financing allows the undisclosed borrower to utilize the cash-out loan proceeds for additional hospitality acquisitions. The 24-month loan features a fixed rate and interest-only payment options. The full-service hotel features 215 guest rooms.

February 15, 2018

Connecticut Loans Multifamily Northeast

KeyBank Provides $12.6M in Financing for Redevelopment of Multifamily Property in Connecticut

by Amy Works February 14, 2018

HARTFORD, CONN. — KeyBank Real Estate Capital has provided $12.6 million in construction-to-permanent financing to support the redevelopment of an office building located at 101 Pearl St. in downtown Hartford. The long-vacant building will be converted into a 12-story multifamily property featuring 157 market-rate apartment units and 6,113 square feet of ground-floor retail space. Peter Hausherr, Melissa Maher and Kirsten Carlson of Key’s Commercial Mortgage Group arranged the first mortgage financing, which is structured as a three-year construction loan with a five-year balance sheet perm loan, for the undisclosed borrower.

February 14, 2018

Connecticut Northeast Office

GHP Office Realty Sells Office Property in Wilton, Connecticut, for $9.2M

by Amy Works February 14, 2018

WILTON, CONN. — GHP Office Realty has completed the sale of an office and flex building located at 131 Danbury Road in Wilton. A Westchester County, Conn.-based real estate holding company purchased the property for $9.2 million. Omnicom Group and Enterprise Rent-A-Car occupy the 52,500-square-foot building. Elizabeth Smith of Goldberg Weprin Finkel Goldstein represented the seller, while Bill Anson of RM Friedland represented the buyer in the deal. GHP Office Realty, a division of Houlihan-Parnes Realtors, is a leading owner, operator and purchaser of suburban New York commercial space.

February 14, 2018

Connecticut Multifamily Northeast Seniors Housing

Formation Selects Congress Building to Construct 86-Unit Community in Connecticut

by Amy Works February 13, 2018

RIDGEFIELD, CONN. — Formation Development Group has selected Congress Building Corp. as construction manager for Atria Ridgefield, an 86-unit assisted living and memory care community in Ridgefield, located between New York City and Hartford. The 82,000-square-foot community is the sixth partnership between Formation and operator Atria Senior Living. The architect is PRDG of Dallas. Faulkner Design Group, also of Dallas, is the interior designer. The civil engineer is CCA of Brookfield, Conn. Site work commenced in November 2017. A completion timeline was not disclosed. Congress has completed over 8,000 beds and 4.5 million square feet of healthcare and long-term care construction throughout the eastern United States.

February 13, 2018

Connecticut Northeast Retail

Marcus & Millichap Brokers $5.2M Sale of Shopping Center in Connecticut

by Amy Works February 7, 2018

EAST HAVEN, CONN. — Marcus & Millichap has arranged the sale of East Haven Shopping Center, located at 75 Frontage Road in East Haven. A Philadelphia-based development company sold the retail center for $5.2 million. Anchored by AutoZone, the 52,752-square-foot property was 93 percent occupied at the time of sale. Mark Krantz, Mark Taylor, Derrick Dougherty and J.D. Parker of Marcus & Millichap represented the seller in the deal. The name of the buyer was not disclosed.

February 7, 2018

Connecticut Northeast Retail

Pearce Real Estate Negotiates $5.5M Acquisition of Retail Property in Rocky Hill, Connecticut

by Amy Works February 5, 2018

ROCKY HILL, CONN. — Pearce Real Estate has arranged the acquisition of a retail property located at 323 Cromwell Ave. in Rocky Hill. Jordan Realty purchased the property from Broad Street III for $5.5 million. CVS/pharmacy occupies the 15,000-square-foot building. DeForest Smith of Pearce Real Estate represented the buyer in the 1031 exchange transaction.

February 5, 2018

Connecticut Industrial Northeast

Angel Commercial Brokers $1.2M Sale of Industrial Building in Bridgeport, Connecticut

by Amy Works February 2, 2018

BRIDGEPORT, CONN. — Southport, Conn.-based Angel Commercial has negotiated the sale of an industrial building located at 146 Davis Ave. in Bridgeport. Black Rock LLC sold the property to J.E.T. Corp. for $1.2 million. The buyer is a Bridgeport-based manufacturer of non-ferrous sand castings. Situated on 1.7 acres, the property features 17,088 square feet of space. The building was previously occupied by Black Rock Fireproof Column Co. Jon Angel of Angel Commercial facilitated the transaction.

February 2, 2018

Connecticut Industrial Northeast

Henkel Completes Construction of 155,000 SF Headquarters Facility in Stamford, Connecticut

by Amy Works February 2, 2018

STAMFORD, CONN. — Henkel, with Ware Malcomb as architect, has completed its North American consumer goods headquarters, located at 200 Elm St. in downtown Stamford. The 155,000-square-foot space accommodates 425 employees from Henkel’s Beauty Care and Laundry and Home Care businesses, with room for growth. The three-story facility integrates Henkel’s previous locations into one, with the largest numbers of employees being from the company’s former consumer goods headquarters in Scottsdale, Ariz., and from Wilton, Conn.-based The Sun Products Corp., which Henkel acquired in 2016. The property features research and development space on the first floor and office space on the remaining floors. Founded in 1876, Henkel is a global manufacturer and marketer of brands, including Persil, Purex, all detergents, Snuggle fabric softeners, Dial soaps, Right Guard antiperspirants, Schwarzkopf hair care, and göt2b hair styling projects. Ware Malcomb provided interior architecture and design, lab planning and branding services for the project. Turner Construction served as general contractor, and CBRE provided brokerage and project management services.

February 2, 2018

Connecticut Loans Northeast Retail

Cronheim Mortgage Secures $22.5M Loan for Retail Center in Shelton, Connecticut

by Amy Works February 1, 2018

SHELTON, CONN. — Cronheim Mortgage has arranged $22.5 million in permanent financing for The Center at Split Rock, a neighborhood retail property located in Shelton. The 10-year loan amortizes over a 30-year period and was structured with a fixed rate of 4.12 percent. Situated on 11.7 acres, the 91,197-square-foot property was constructed in 2007 and is 99 percent leased to more than 20 tenants. Current tenants include Walgreens, Outback Steakhouse, Orange Theory Fitness and Mattress Firm. Dev Morris, Allison Villamagna and Andrew Stewart of Cronheim Mortgage originated and placed the loan for the undisclosed borrower.

February 1, 2018

Newer Posts

Older Posts