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.
BRISTOL, CONN. — Rick Chozick and Steve Pappas of Chozick Realty Inc. have brokered the sale of Brookside Apartments in Bristol. The sales price was $7 million or roughly $89,743 per unit for the 78-unit garden-style complex. Brookside Apartments was constructed in 1961 and renovated in 2003. The unit mix includes 12 one-bedroom, 41 two-bedroom and 25 three-bedroom apartments, of which 14 are townhouse style. The property is located at 111-159 Union Street. Chozick Realty represented the seller, Bristol Brookside LLC, and procured the purchaser, Up Realty, a New York-based investment group.
SOUTHINGTON, CONN. — Tony Valenti and Ralph Calabrese of R. Calabrese Agency have brokered the sale of three acres of vacant commercial property in Southington to AVA Development LLC. The property is located on the West Street (Route 229) corridor near I-84. The new owner will commence construction on a Courtyard by Marriott Hotel, with groundbreaking scheduled for this spring. S&G LLC was the seller and R. Calabrese Agency was the sole broker involved in the transaction.
WESTPORT, CONN. — David Fugitt of Westport-based Vidal/Wettenstein LLC has arranged the $2.6 million sale of 18-26 Imperial Ave. located in downtown Westport. The property is a fully leased five-building medical complex with a total of 7,428 rentable square feet. Amalgamated Realty Company LLC was the seller and Greens Farms Centre Associates was the buyer. Fugitt was the sole broker involved in the transaction.
