FARMINGTON, CONN. — Second Foundation has purchased a 9,860-square-foot office property located at 21 Talcott Notch Road in Farmington for $1.1 million. SCEN International was the seller of the three-story property, which is located on .99 acres. Sentry Commercial represented the seller and CBRE represented the buyer in the transaction.
WESTPORT, CONN. — Brett Sherman of Angel Commercial has arranged the $2.2 million sale of 1555 Post Road E. in Westport. Located on Route 1, the property consists of an 11,461-square-foot office building on .61 acres. Sherman represented the buyer, BAO Partners, which plans to update the building with a new roof, HVAC, windows, masonry and parking lot.
NEW HAVEN, CONN. — Northeast Private Client Group has arranged the $6.4 million sale of a 40,000-square-foot office property known as Exchange Place in New Haven. The property is located at 123-127 Church St. Edward Jordan and Bradley Balletto of the firm’s Connecticut office represented the seller and procured the buyer in the transaction. William Jekiel Forbes built the Exchange Place property in 1832 and it was renovated in 2003. The seller, Connecticut-based 123-127 Church Street Associates LLC, purchased the property in 2013 shortly after its primary tenant The Annie E. Casey Foundation ceased activities. The company signed a lease for the upper floors with a rapidly growing technology company, and signed a net lease for the ground-floor retail space with a national pharmacy. The property was 100 percent leased at the time of sale. The buyer, Boston-based New England Investment Partners, purchased the property for roughly $160 per square foot.
WATERTOWN, CONN. — Island Associates and EXP Realty have arranged the $4.3 million sale of a CVS/pharmacy in Watertown. Roger Delisle of Island Associates represented the buyer, while Daniel de Sa’ of EXP Realty Advisors represented the seller. The 13,000-square-foot net-leased property is located on 1.7 acres at 26 Davis St. More than 20 years remain on the lease. The unnamed buyer purchased the property utilizing a 1031 tax-deferred exchange.
STRATFORD, CONN. — Cushman & Wakefield has brokered a 10-year lease extension totaling 100,968 square feet for Yale New Haven Health (YNHH) and North East Medical Group (NEMG) at 99 Hawley Lane in Stratford. Jay Hruska of Cushman & Wakefield led the leasing efforts on behalf of the tenants, while Joseph Codi internally represented building owner Mountain Development. YNHH and NEMG will house multiple office and support functions at the location. 99 Hawley Lane, also known as Merritt 8 Corporate Park, is a Class A office building with recently renovated common areas. Amenities include a cafeteria, corporate conference center, fitness center, lobby concierge and structured parking.
MANCHESTER, CONN. — KeyBank Real Estate Capital has secured a $30.9 million Fannie Mae first mortgage loan for Broadleaf Apartments, a 224-unit multifamily property in Manchester. The property was built in 2016 and is located eight miles from downtown Hartford. Thomas Peloquin of Key’s commercial mortgage group arranged the 10-year loan, which includes three years of interest-only payments and a 30-year amortization schedule. The loan was used to refinance existing debt.
WETHERSFIELD, CONN. — Phil Gagnon of Colliers International has brokered the $2.1 million sale of a 44,000-square-foot office building in Wethersfield. The Class B building is located at 936 Silas Deane Highway. Gagnon represented the buyer, CT Peer Review Organization (CPRO), in the transaction. CPRO will occupy a portion of the building and plans to complete upgrades to the facility. Patrick Mulready of CBRE represented the seller, PBE Cos.
STAMFORD, CONN. — RHYS has negotiated the $10.3 million sale of two office/retail buildings located at 111 and 123 High Ridge Road in Stamford. Combined, the three-story buildings offer 40,000 square feet of office and retail space. The 100 percent leased portfolio sits on just over an acre, with more than 150 parking spaces on site. Christian Bangert of RHYS represented the buyer, A & E High Ridge, in the transaction. Karen Dome and Robert Haile of Coldwell Banker Commercial represented the seller, High Ridge Plaza LLC.
ESSEX, CONN. — Lyman Real Estate has brokered the $1.4 million sale of three contiguous parcels of land totaling 3.8 acres at 21-29 Plains Road in Essex. Essex Holdings was the buyer and will develop the property as Essex Station, a 52-unit luxury apartment community. Penny Parker of Lyman Real Estate represented both the buyer and the sellers. Truehold Essex sold one parcel and Costa Family LLC sold the other two. All of the one- and two-bedroom units will feature porches, nine-foot ceilings, gas fireplaces, marble bath vanities and granite countertops. Sixteen of the Essex Station units will have a maximum qualifying household income and a monthly rent limit.
MILFORD, CONN. — Calare Properties has sold a 200,000-square-foot industrial property located at 40 Pepe’s Farm Road in Milford. An unnamed institutional buyer purchased the property for $13.3 million. Calare purchased the property in 2014 and made several upgrades including LED lighting and landscaping improvements. The entire property is leased to a transportation solutions company.