Connecticut

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

Acquisitions Connecticut Northeast Office

Fischer Arranges Sale of 12,980 SF Office Building in Downtown Seymour, Connecticut

by David Cohen March 19, 2018

SEYMOUR, CONN. — Fischer Commercial Real Estate has arranged the sale of a 12,980-square-foot office building in downtown Seymour. Alan Fischer of Fischer represented both the buyer and seller in the all-cash transaction. The building, located at 115 Main St. on .8 acres, is the former home of a Bank of America branch. The buyer is a local investor who plans to reconfigure the space into multiple office suites and street retail.

March 19, 2018

Connecticut Loans Multifamily Northeast Seniors Housing

Grandbridge Provides $35M Freddie Mac Refinancing for Community in Connecticut

by David Cohen March 16, 2018

NEW CANAAN, CONN. — Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group has provided a $35 million Freddie Mac refinancing for Brightview on New Canaan. The 90-unit seniors housing community is located in New Canaan, a suburb of Norwalk approximately 35 miles northeast of New York City. The permanent, fixed-rate financing features a 10-year term and 30-year amortization. Richard Thomas and Meredith Davis originated the loan.

March 16, 2018

Connecticut Multifamily Northeast

Chozick Realty Brokers Sale of 455-Unit Multifamily Portfolio for $48.2M

by Kristin Harlow March 12, 2018

GROTON, WALLINGFORD AND NEW LONDON, CONN. — Chozick Realty Inc. has brokered the sale of a five-property multifamily portfolio consisting of 455 units in Groton, Wallingford and New London for $48.2 million. Chozick Realty represented the seller, The Tree Group, in the transaction and procured the undisclosed buyer. Four complexes in the portfolio totaling 275 units are located in New London and Groton, in southeastern Connecticut midway between Boston and New York. The fifth property, totaling 180 units, is located in Wallingford, 14 miles north of New Haven. All five properties in the portfolio have full amenity packages including swimming pools, tennis courts, fitness centers, community rooms, walking trails and picnic areas.

March 12, 2018

Connecticut Multifamily Northeast

Chozick Realty Brokers $46.6M Acquisition of Multifamily Portfolio in Manchester, Connecticut

by Amy Works March 8, 2018

MANCHESTER, CONN. – Chozick Realty has arranged the acquisition of the Damato Enterprises Apartment portfolio, a 13-property multifamily portfolio located in Manchester. New York-based Chester Homes LLC purchased the portfolio for $46.6 million, or $120,000 per unit. Totaling 338 units, the apartment buildings were built by Raymond F. “Sonny” Damato. Steve Pappas of Chozick Realty represented the buyer in the transaction.

March 8, 2018

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