Connecticut

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

Connecticut Industrial Northeast Retail

Angel Commercial Brokers $1.9M Sale of Retail/Warehouse Building in Norwalk, Connecticut

by Amy Works January 25, 2018

NORWALK, CONN. — Angel Commercial has arranged the sale of a retail and warehouse building located at 173 Main St. in Norwalk. Servpro acquired the property from Brandman Realty LP for $1.9 million. The property features 17,500 square feet of retail and warehouse space. Headsquartered in Gallatin, Tenn., Servpro is a franchisor of fire and water cleanup and restoration franchises in the United States and Canada. Lester Fradkoff of Angel Commercial represented the seller, while Brett Sherman, also of Angel Commercial, represented the buyer in the deal.

January 25, 2018

Connecticut Northeast Office

Trumbull Developers Acquires 78,692 SF Office Building in Trumbull, Connecticut, for $4.5M

by Amy Works January 18, 2018

TRUMBULL, CONN. — Trumbull Developers has purchased an office building located on 10.7 acres at 100 Oakview Drive in Trumbull. Canon USA sold the 78,692-square-foot property for $4.5 million. The buyer plans to demolish the existing building and develop a six-building residential community featuring 202 apartments. Tim McMahon and Rich Lee of O,R&L Commercial represented the seller and procured the buyer in the deal.

January 18, 2018

Connecticut Industrial Northeast

O,R&L Commercial Brokers Sale of 24,300 SF Industrial Property in West Haven, Connecticut

by Amy Works January 16, 2018

WEST HAVEN, CONN. — O,R&L Commercial has arranged the sale of a light industrial/flex building located at 45 Railroad Ave. in West Haven. Pinpoint Promotions & Printing acquired the asset form L&A Realty. The new owner plans to relocate its full-service marketing and production agency to the property, which was formerly occupied by Manufacturers Associates Inc. Situated on 1.25 acres, the property features 24,300 square feet of space. Richard Guralnick of O,R&L Commercial represented the seller in the transaction.

January 16, 2018

Affordable Housing Connecticut Loans Multifamily Northeast

Greystone Provides $55.2M Loan for Affordable Housing Acquisition in Stamford, Connecticut

by Amy Works January 12, 2018

STAMFORD, CONN. — Greystone has provided $55.2 million in Freddie Mac financing for the acquisition of an affordable housing community in Stamford. Dan Sacks of Greystone originated the loan in conjunction with Greystone’s Affordable Lending team. The seven-year adjustable rate Freddie Mac Targeted Affordable Housing loan was provided to a New Jersey-based investment group for the acquisition of The Wescott Apartments, a 261-unit income-restricted property. Built in 1986, the asset was renovated over the last five years and restricts 20 percent of its units to households earning 80 percent or less of the average median income.

January 12, 2018

Connecticut Multifamily Northeast

Avalon Bay Communities Sells 246-Unit Apartment Community in Milford, Connecticut, for $50.5M

by Amy Works January 12, 2018

MILFORD, CONN. — Avalon Bay Communities has completed the sale of Avalon Milford, an apartment community located in Milford. An affiliate of DSF Group acquired the property for $50.5 million. Jeffrey Dunne, Gene Pride, Simon Butler and Biria St. John of CBRE New England represented the seller in the deal. Built in 2004, the community has 246 apartments with open floorplans, gas heat and cooking, walk-in closets, full-size in-home washer/dryers and 10-foot or more vaulted ceilings on the third floor.

January 12, 2018

Connecticut Mixed-Use Multifamily Northeast Office Restaurant Retail

BLT Transforms Waterfront Property into Mixed-Use Development in Stamford, Connecticut

by Amy Works January 10, 2018

STAMFORD, CONN. — Building and Land Technology (BLT) is developing Harbor Landing, the redevelopment and rebranding of Stamford Landing and Davenport Landing in Stamford. The project will connect the Stamford Landing office complex and the Davenport Landing boatyard and residential properties. The newly connected waterfront property will be a combination of the former Stamford Landing, a 200,000-square-foot waterfront office complex, and the former Davenport Landing, featuring 218 residential rental units, two restaurants, a full-service boatyard operated by The Hinckley Co., a boardwalk and a marina with more than 120 available slips. The residential portion of the property is slated to begin leasing early this year. On-site amenities at the property include security, a shuttle to the train, a fitness center with yoga studio, marina slips, and two restaurants, Crab Shell and Prime. BLT has retained RHYS as leasing agent for the property.

January 10, 2018

Connecticut Multifamily Northeast

Chozick Realty Facilitates $8M Sale of 120-Unit Apartment Complex in East Hartford, Connecticut

by Amy Works January 10, 2018

EAST HARTFORD, CONN. — Chozick Realty has arranged the sale of Turtle Creek Apartments, a multifamily property located in East Hartford. Up Realty LLC acquired the property from Turtle Creek Realty for $8 million, or $66,666 per unit. Constructed in 1968, the 120-unit property features a mix of studio, one- and two-bedroom layouts, an indoor swimming pool, a steam room, a sauna, a commercial kitchen and dining room for resident functions, an indoor running track, a miniature golf course, fitness rooms, a billiards room, a media room and a library. Steve Pappas of Chozick Realty represented the seller and buyer in the deal.

January 10, 2018

Connecticut Multifamily Northeast

IPA Facilitates $33M Sale of 99-Unit Apartment Property Located in Shelton, Connecticut

by Amy Works January 9, 2018

SHELTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Avalon Huntington, a 99-unit apartment complex located at 100 Avalon Drive in Shelton. AvalonBay Communities sold the property to Inland Real Estate Acquisitions for $33 million, or $333,333 per unit. Built in 2008, Avalon Huntington features 86 townhome-style units and 67 units with direct-entry garages. Victor Nolletti and Eric Pentore of IPA represented the seller and procured the buyer in the transaction.

January 9, 2018

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