KILLINGLY, CONN. — CBRE/New England has secured $7.8 million in permanent financing for affiliates of The Grossman Companies for an industrial building located at 349 Lake Road in Killingly. The long-term, fixed-rate loan was provided by HarborOne Bank. Situated on 20.7 acres, the 207,878-square-foot industrial facility is fully leased to C&M Corp. and Superwinch with a long-term parking lease to Rite Aid. Kyle Juszczyszyn and Chris Coutts of CBRE/NE arranged the financing for the borrower.
NORWALK, CONN. — Marcus & Millichap has brokered the sale of Affordable Self Storage, a self-storage facility located at 162 Bouton St. in Norwalk. The 77,760 net-rentable-square-foot facility sold for $19 million, or $242 per square foot. Situated on 3.9 acres and built in 1989, the property features 879 units, 477 of which are climate controlled. The units range in size from 25 square feet to 500 square feet, and on-site amenities include drive-up access to ground-level units, individual door alarms, complete fire protection and easy-to-use lifts. Brett Hatcher, Joseph Holloway and J.D. Parker of Marcus & Millichap represented the seller, Paul Hertz and John Hertz, and procured the undisclosed buyer in the transaction.
STAMFORD, CONN. — Starwood Hotels & Resorts Worldwide Inc. is considering terminating its planned acquisition by Marriott in light of a new offer from a Chinese-led joint venture. Beijing-based Anbang Insurance Group is leading the new offer of $13.2 billion, which includes investment from J.C. Flowers & Co. and Primavera Capital Limited. The joint venture is collectively known as Anbang Consortium. Starwood, which is based in Stamford, said that the Anbang bid is a superior proposal to the price tag that Marriott agreed to pay in November. Marriott’s cash-and-stock proposal was valued at $68.06 per share, or $13.06 billion as of Thursday’s closing price, according to The Wall Street Journal. Anbang Consortium would pay $78 per share, an increase from the $76 per share proposal it made on March 10. Click here to read the details on the initial Marriott offer. Marriott has until March 28 to make a counter offer to Starwood, and has stated that it “continues to believe that a combination of Marriott and Starwood is the best course for both companies and offers the best value to Starwood shareholders.” Under the terms of the original merger agreement, Starwood, which owns the Westin, St. Regis, Sheraton and W hotel …
TRUMBULL, CONN. — Paredim Partners, in partnership with LEM Capital, has acquired Eaves Trumbull Apartments, an apartment community located in Trumbull, for $70.2 million. Situated on 38 acres, the multifamily community features 340 apartment units in a mix of one-, two- and three-bedroom layouts, and an 11,000-square-foot clubhouse with a pool, indoor basketball and racquet courts. The seller was Avalon Bay Communities. Paredim Partners is an owner-operator of multifamily residential properties in the Northeast, specializing in the Connecticut marketplace.
TRUMBULL, CONN. — The Silverman Group has completed the sale of Trefoil Park, a five-building office/laboratory/flex park in Trumbull. 265 West 34th Street LLC acquired the asset for $26.7 million. The park includes a three-story, 54,899-square-foot building located at 35 Corporate Drive; a three-story 47,264-square-foot building located at 55 Corporate Drive; a 44,221-square-foot asset at 126 Monroe Turnpike; a 45,615-square-foot property at 30 Trefoil Drive; and a 40,675-square-foot building at 204 Spring Hill Road. In addition to a mix of office, industrial and flex space, the park features a fitness center and a child care center. At the time of sale, Trefoil Park was 95 percent leased to a diverse roster of 37 corporate and industrial tenants. Tom O’Leary, Gary Gabriel, Andrew Merin, David Bernhaut and Andrew Schwartz of Cushman & Wakefield represented the seller in the transaction.
WOODBURY, CONN. — Drubner Commercial Real Estate has arranged the sale of the former Carmen Anthony Fish House in Woodbury. Tony Ramadani and Kung Wei acquired the property for $1.2 million. The buyers, who are experienced restaurant operators, plan to open Max Prime Steak House – Seafood and Sushi. David Theroux of Drubner Commercial Real Estate represented the buyer and undisclosed seller in the transaction.
WESTBROOK, CONN. — Jacobson Properties and RE/MAX Right Choice have arranged the sale of Lakebrook Medical Center in Westbrook. An institutional healthcare real estate investment firm acquired the Class A medical office building for $6.1 million. At the time of sale, the 24,500-square-foot property was leased by Yale Heart & Vascular and Middlesex Hospital. Lisa Menin of Jacobson Properties and John LaBella of RE/MAX Right Choice handled the transaction. The name of the seller was not released.
AVON, CONN. — E.N.E. Realty Associates has acquired an office building located at 172 W. Main St. in Avon. Avonwood Enterprises LLC sold the 10,318-square-foot property for an undisclosed sum. The multi-tenant investment property was 100 percent occupied at the time of sale. The main tenant is Berkshire Hathaway HomeServices New England Properties. Gayle Erickson and Bruce Cagenello of Berkshire Hathaway HomeServices were the sole brokers in the transaction.
WATERBURY, CONN. — Great American Aquaculture has signed a long-term lease for 54,426 square feet of industrial space at 64 Avenue of Industry in Waterbury. The 66,400-square-foot building is situated on 10.3 acres. Sentry Commercial, in association with Hartford Group International, represented the landlord, 64 AOI LLC, while Colonial Realty represented the tenant in the transaction.
WILTON, CONN. — JRT Realty Group, working in conjunction with Cushman & Wakefield, has arranged four leases totaling 23,595 square feet at Wilton Woods Corporate Campus, located at 10 and 20 Westport Road in Wilton. The two-building, Class A office park is owned by TIAA-CREF. Property Group Partners has signed a five-year, 6,874-square-foot lease on the third floor of the 341,207-square-foot building at 20 Westport Road, and Stonebridge Advisors has inked a 10-year deal for 6,642 square feet of first-floor space at the 197,512-square-foot building at 10 Westport Road. Property Group Partners, which serves as property manager of the complex, represented itself in transaction, while Stonebridge Advisors was represented by Thomas Pajolek of CBRE. Additionally, at the 10 Westport Road building, Sierentz Fund renewed its 5,879-square-foot lease and Louis Dreyfus Family Office renewed its 4,200-square-foot lease. TIAA-CREF was represented by Greg Smith of JRT Realty Group and Kevin Foley and William Montague of Cushman & Wakefield in the transactions.
