Connecticut

Press/Cuozzo Commercial Negotiates $1.1M Sale of Industrial Building in Connecticut

by Amy Works December 16, 2015

MERIDEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of an industrial building located at 170 Pond View Drive within Medway Business Park in Meriden. Aperture Optical Sciences acquired the 23,000-square-foot property for $1.1 million. Constructed in 1985, the property features 18,000 square feet of high-bay industrial space and 5,000 square feet of office and sales support space. Stephen Press and Ted Schaffer of Press/Cuozzo represented the undisclosed seller, while Kyle Roberts of CBRE/New England represented the buyer in the transaction.

December 16, 2015

Connecticut Multifamily Northeast

Colliers Brokers $3.8M Sale of 41-Unit Apartment Complex in Rocky Hill, Conn.

by Amy Works December 15, 2015

ROCKY HILL, CONN. — Colliers International has arranged the sale of Worthington Arms, a 41-unit garden-style apartment complex located at 100 and 200 Laura Lane in Rocky Hill. Sunset Hill Restoration acquired the asset for $3.8 million. The complex features a mix of one- and two-bedroom apartments will full basement storage in each building. Philip Gagnon of Colliers represented the undisclosed seller, while Bob Pagani, also of Colliers, represented the buyer in the transaction.

December 15, 2015

Connecticut Northeast Retail

Drubner Commercial Negotiates $2M Retail Property Sale in Connecticut

by Amy Works December 15, 2015

WATERBURY, CONN. — Drubner Commercial Real Estate Services has arranged the sale of a retail property located at 1262 W. Main St. in Waterbury. The Lauren Investment Group of Monroe, N.Y., purchased the property for $2 million. David Theroux of Drubner Commercial, along with Property West LLC, developed the site in 2007. The property is currently leased to TD Bank for the foreseeable future. Theroux handled both the sale and lease transactions.

December 15, 2015

Connecticut Northeast Office

The Geenty Group Brokers 2,299 SF Flex Space Lease in Connecticut

by Amy Works December 14, 2015

OLD SAYBROOK, CONN. — The Geenty Group has brokered the lease of 2,299 square feet of space at a multi-tenant flex building located at 20 Research Parkway in Old Saybrook. Iterum Therapeutics US Limited, a biotech start-up firm, will occupy the space within the 20,000-square-foot property. Kevin Geenty of The Geenty Group arranged the transaction. The landlord is Mill Meadow Development LLC.

December 14, 2015

Connecticut Northeast Office

Cushman & Wakefield Arranges Three Leases at Crown Corporate Campus in Connecticut

by Amy Works December 3, 2015

MILFORD, CONN. — Cushman & Wakefield has brokered three new leases, totaling 48,525 square feet, at Crown Corporate Campus, located at 470, 472, 476, 478 and 488 Wheelers Farm Road in Milford. SurgiQuest Inc., a surgical device company, leased 40,542 square feet at 488 Wheeler Farm Road; The Berry Company, a provider of local online, search, video and directory solutions, leased 7,781 square feet at 488 Wheelers Farm Road; and Boys & Girls Village, a nonprofit agency specializing in children with special educational needs, children in crisis or children with learning difficulties, leased 2,002 square feet at 472 Wheelers Farm Road. Situated on 47 acres, Crown Corporate Campus is a five-building, 425,000-square-foot office campus. Kevin Foley, Mike Dillon and Will Mercorella of Cushman & Wakefield represented the landlord, Crown Milford LLC, a division of Crown Properties, in the three deals. Dave Hansen and Matt O’Hare of CBRE represented SurgiQuest; Sean O’Neill of JLL represented The Berry Company; and Marie Pelaccia of First Equity Real Estate represented Boys & Girls Village in the transactions.

December 3, 2015

Connecticut Northeast Retail

Bass Pro Shops Opens First Connecticut Location in Steelpointe Harbor

by Amy Works December 2, 2015

BRIDGEPORT, CONN. — Bass Pro Shops has opened its first Connecticut location at Steelpointe Harbor, a 2 million-square-foot mixed-use property in Bridgeport. The 150,000-square-foot store features Uncle Buck’s Fish Bowl and Grill restaurant; Black Widow Billiards parlor with two tournament pool tables; a 12-lane bowling alley; an archery range; and an aquarium. Steelpointe Harbor, a 50-acre, $750 million project, is being developed by Bridgeport Landing Development, a subsidiary of The RCI Group.

December 2, 2015

Connecticut Loans Northeast Retail

Cronheim Mortgage Secures $19M Loan for 215,000 SF Shopping Mall

by Amy Works November 30, 2015

TRUMBULL, CONN. — Cronheim Mortgage has secured a $19 million loan for Hawley Lane Mall, a 215,000-square-foot shopping mall in Trumbull. The 15-year loan, which features a 30-year amortization schedule, was funded by the United States Life Insurance Co. and National Union Fire Insurance Co. In 2005, Purchase, N.Y.-based National Realty and Development Corp. redeveloped the property, which was built in 1971, into a two-level community shopping center. The center is anchored by Kohl’s, HomeGoods and Best Buy. Andrew Stewart and Dev Morris of Cronheim Mortgage arranged the financing for the borrower.

November 30, 2015

Connecticut Northeast Retail

Angel Commercial Negotiates $1M Sale of Retail Property in Connecticut

by Amy Works November 30, 2015

MILFORD, CONN. — Angel Commercial LLC has arranged the sale of a retail investment property located at 773 Bridgeport Ave. in Milford. Private investors acquired the 4,800-square-foot building from H&S Olson LLC for $1 million. The current tenant, PPG Paints, will remain in the property. Jon Angel of Angel Commercial represented the seller in the transaction.

November 30, 2015

Connecticut Industrial Northeast

Fischer Real Estate Arranges $2.6M Sale of 14.4-Acre Land Parcel in Milford, Conn.

by Amy Works November 25, 2015

MILFORD, CONN. — A New York-based manufacturing company has acquired a 14.4-acre land parcel at 539 Oronoque Road in Milford. Arrow Realty LLC sold the property for $2.6 million. The buyer plans to renovate and add on to an existing 23,250-square-foot building and construct at least two industrial buildings to accommodate its growing business. Alan Fischer of Fischer Real Estate Inc. represented the seller and buyer in the transaction.

November 25, 2015

Connecticut Industrial Northeast

Colliers Arranges $2.3M Sale of Industrial Facility in Rocky Hill, Connecticut

by Amy Works November 24, 2015

ROCKY HILL, CONN. — Colliers International has brokered the sale of an industrial facility located at 51 Belamose Ave. in Rocky Hill. MF Discala & Co. acquired the property from Fifty One Belamose LLC for $2.3 million. The 35,000-square-foot property is fully occupied and will provide a long-term cash flow for the new owner. Nicholas Morizio and Ian Hunt of Colliers represented the seller and buyer in the transaction.

November 24, 2015

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