NORWALK, CONN. — Waltham, Mass.-based EPOCH Senior Living, in partnership with National Development, has broken ground on Bridges by EPOCH, a memory care assisted living community located at 123 Richards Ave. in Norwalk. Slated to open in fall 2017, the community will feature 64 memory-care suites and is designed for individuals living with all stages of memory impairment.
MILFORD, CONN. — USAA Real Estate Co. has acquired Silver Sands Plaza, a grocery-anchored retail property located on Bridgeport Avenue in Milford. David A. Mack Properties and Keystone Development Group sold the property for an undisclosed price. The 85,398-square-foot retail center is occupied by Stop & Shop, AutoZone and AAA. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the sellers and procured the buyer. Jason Gaccione of CBRE’s Debt and Structured Finance Group Finance Group represented the buyer on its financing of the acquisition.
GLASTONBURY, CONN. — Katz Properties has purchased Somerset Square, a retail center in Glastonbury, for $26.6 million. Situated on 15.3 acres, the 112,414-square-foot property is fully leased to a variety of tenants, including Stop & Shop, Barnes & Noble Bookstore, FedEx and the Paper Store. Tim Breda of Goedecke & Co. arranged mortgage financing for the acquisition. Winslow Property Management will provide leasing and property management services for the retail center. The name of the seller was not released.
ORANGE, CONN. — SH Corp. has completed the disposition of a retail property located at 249/259 Bull Hill Lane in Orange. AS Realty LLC acquired the 65,303-square-foot property for $10.8 million. Situated on seven acres, the property is fully leased to ShopRite through a 20-year net lease and an auto repair shop. Jim Koury of HFF represented the seller and procured the buyer in the deal.
EAST HAVEN, CONN. — O,R&L Commercial has arranged the sale of the former Connecticut Food Bank building, located at 150 Bradley St. in East Haven. Mario Luciani acquired the 28,712-square-foot industrial and office property for an undisclosed price. The buyer plans to use the building as headquarters for his ServPro franchises. Frank Hird and Tim McMahon of O,R&L Commercial represented the undisclosed seller, while Natuzza Dimasi of William Raveis Real Estate represented the buyer in the transaction.
STAMFORD, CONN. — Colliers International has brokered the sale of an office building located at 750 E. Main St. in Stamford. Darien, Conn.-based Forstone Capital acquired the 103,367-square-foot office property for an undisclosed sum in an off-market transaction. The 10-story building features six floors of office space and four levels of structured parking. On-site amenities include food services, a fitness center, conference facility and security. Al Gutierrez, Enzennio Mallozzi and Cynthia Foster of Colliers represented the undisclosed seller and procured the buyer in the transaction.
WINDHAM, CONN. — Greystone has provided a $36 million Fannie Mae DUS loan to refinance Colonial Townhouse Apartments in Windham. Donny Rosenberg of Greystone and Shaya Ackerman of Meridian Capital originated the loan for the borrower, Colonial BT LLC. The non-recourse loan carries a 10-year fixed term with the first three years as interest-only payments and a 30-year amortization schedule. The 444-unit property is 95.9 percent occupied.
GLASTONBURY, CONN. — Rouse Properties has acquired The Shops at Somerset Square, a lifestyle retail center located in Glastonbury. The HB Nitkin Group sold the property for $42 million. The 115,000-square-foot center is occupied by Francesca’s, Victoria’s Secret, White House Black Market, Chinos, Talbots, Chipotle, Starbucks Coffee, Lux, Bond & Green Jewelers, Max Fish and Max Amore. Additionally, the center features office and medical space.
STAMFORD, CONN. — A joint venture between The Davis Companies and Highland Development Ventures has acquired a warehouse property, located at 300 Stillwater Ave. in Stamford, for an undisclosed price. The buyers plan to convert the two-story 152,000-square-foot building from a production studio for reality television shows into a self-storage facility. Construction is slated to begin this quarter with completion scheduled for 2018. Designed by Tao Architecture + Design, the facility will feature a leasing office, state-of-the-art security, a center drive aisle for access to units and drive-up units on sections of the property’s parking surface. The acquisition is the joint venture’s sixth self-storage facility development, including both ground-up and conversion projects.
NORWICH, CONN. — Lyman Real Estate Brokerage & Development has arranged the sale of a retail property located at 646 Boswell Ave. in Norwich. Goodlettsville, Tenn.-based Dollar General acquired the 1,558-square-foot property for an undisclosed price. The location formerly housed Seafood Etc. market. Matthew Darling of Lyman Real Estate represented the undisclosed seller, while Michael Alberico of Atlantic Retail Properties represented the buyer in the deal.
