Connecticut

Midwood Investment & Development Sells Retail Center in Connecticut for $29M

by Amy Works July 13, 2016

AVON, CONN. — Midwood Investment & Development has completed the disposition of Shops at Nod Brook, a grocery-anchored shopping center located at 315 W. Main in Avon. A joint venture between Wilder Cos. and Principal Real Estate Investors acquired the 99,788-square-foot property for $29 million. At the time of sale, the property was 91.5 percent occupied by The Fresh Market, Marshalls, Michaels, Top Nail, Music & Arts, Lane Bryant and Great Clips. Jim Koury of HFF represented the seller in the deal. Additionally, Porter Terry and Lauren O’Neil of HFF arranged a five-year, fixed-rate acquisition loan for $16.2 million through a global life insurance company for the buyer.

July 13, 2016

Connecticut Northeast Office

Choyce Peterson Negotiates 24,000 SF Office Lease in Connecticut

by Amy Works July 12, 2016

STAMFORD, CONN. — Choyce Peterson Inc. has brokered a 24,000-square-foot office lease on behalf of Cara Therapeutics Inc. The company plans to relocate its headquarters to the new space at 107 Elm St. within Stamford Plaza in Stamford. On-site amenities of the property include a cafeteria, conference facility, fitness center, sundries shop, dry cleaner, plus a car wash and detailing service. Cara Therapeutics relocated from One Parrot Drive in Shelton, Conn. John Hannigan and Adam Cognetta of Choyce Peterson represented the tenant in the transaction. The landlord, RFR Realty LLC, was represented in-house by Margaret Carlson, Steve Lash and Ed Wissell.

July 12, 2016

Connecticut Northeast Retail

O,R&L Commercial Handles $2.1M Sale of Retail Property in Connecticut

by Amy Works July 6, 2016

WALLINGFORD, CONN. — O,R&L Commercial has arranged the sale of Tower Square Plaza, located at 600 N. Colony Road in Wallingford. JMM Associates acquired the 22,160-square-foot retail center from 600 North Colony Road Associates for $2.1 million. The property is occupied by Enterprise Rent-a-car, Panda Garden, Domino’s, Brew and Steak Kings, and other retail tenants. Phil Marshall and Frank Hird of O,R&L Commercial represented the seller and buyer in the transaction.

July 6, 2016

Connecticut Industrial Northeast

CBRE Negotiates $12.5M Sale of Industrial Facility in Connecticut

by Amy Works July 6, 2016

ENFIELD, CONN. — CBRE has arranged the sale of an industrial facility located at 25 Bacon Road in Enfield. WE 25 Bacon Road LLC acquired the 1 million-square-foot facility for $12.5 million. Situated on 348 acres, the property was formerly a Hallmark distribution center. Christopher Metcalfe and John Reed of CBRE represented the undisclosed seller in the transaction. An earlier version of this story incorrectly reported that Sentry Commercial brokered the transaction.

July 6, 2016

Connecticut Multifamily Northeast Texas Top Stories

Cornerstone Real Estate Advisers to Acquire ACRE Capital Holdings for $93M

by John Nelson June 30, 2016

HARTFORD, CONN. AND PLANO, TEXAS — Cornerstone Real Estate Advisers has agreed to acquire ACRE Capital Holdings LLC, the agency lending subsidiary of Ares Commercial Real Estate Corp. (NYSE: ACRE). The $93 million transaction could close as early as the third quarter of this year. The acquisition of ACRE Capital expands Cornerstone’s commercial loan origination platform, nearly doubling the size of the company’s multifamily loan portfolio from approximately $5 billion to $10 billion. Cornerstone traditionally originates larger balance loans, while ACRE Capital typically focuses on smaller balance loans on behalf of Fannie Mae, Freddie Mac and HUD. In addition to being complementary firms, the acquisition will allow Cornerstone to address the need for affordable housing financing in the marketplace, according to Scott Brown, global president and CEO of Cornerstone. “The affordable housing segment of the marketplace is underserved, and acquiring ACRE Capital will allow us to meaningfully address the current and looming scarcity in affordable residential housing and increase lending to communities nationwide,” says Brown. “We look forward to joining forces with the professionals at ACRE Capital to expand opportunities for their borrowers.” ACRE Capital originates and services multifamily mortgages and seniors housing and healthcare facility loans. The company is …

June 30, 2016

Connecticut Northeast Restaurant Retail

HK Group Brokers $1.3M Sale of Restaurant Property in Connecticut

by Amy Works June 29, 2016

FAIRFIELD, CONN. — HK Group has brokered the sale of a restaurant property located at 348 Black Rock Turnpike in Fairfield. FCCW LLC and Baylor LLC sold the 2,663-square-foot property to Ahabs Table LLC and Black Rock SoHo LLC for $1.3 million. At the time of sale, Black Rock Oyster Bar & Grill was in operation at the site. The buyers plan to continue to operate the restaurant/bar under a new name. David Cervero and Ralph Michel of HK Group represented the buyer, while Audrey Long of Guttman Realty Advisors represented the seller in the deal.

June 29, 2016

Connecticut Industrial Northeast

Exeter Property Group Acquires 428,000 SF Industrial Park in Connecticut for $41M

by Amy Works June 28, 2016

STRATFORD, CONN. — Exeter Property Group has acquired Stratford Industrial Park, a four-building industrial park located at 500-650 Long Beach Blvd. in Stratford. Stratford Development sold the 428,000-square-foot asset for $41 million. Situated on 34 acres, the park is 100 percent occupied by a variety of tenants, including Starbucks Coffee, FedEx Ground, Carrier Corp. and Endo Industrial. Kyle Schmidt, Gary Gabriel, Andrew Merin, David Bernhaut, Al Mirin and Kate Schwartz of Cushman & Wakefield brokered the deal.

June 28, 2016

Connecticut Multifamily Northeast

The Silverman Group Acquires 92-Unit Apartment Community in Connecticut for $19.5M

by Amy Works June 22, 2016

NORWALK, CONN. — The Silverman Group has acquired Riverview, an apartment community located on Richards Avenue in Norwalk, for $19.5 million as part of a 1031 exchange. Built in 1991, the 92-unit community features underground garage parking and value-add opportunities to renovate units. Jeffrey Dunne, Gene Pride and Travis Langer of CBRE represented the seller, an institutional owner, in the transaction.

June 22, 2016

Connecticut Northeast Office

Angel Commercial Brokers $2.9M Sale of Office Building in Connecticut

by Amy Works June 22, 2016

FAIRFIELD, CONN. — Angel Commercial has arranged the sale of a commercial office building located at 418 Meadow St. in Fairfield. Milford, Conn.-based Julian Enterprises acquired the 24,866-square-foot building from BAO Partners for $2.9 million. Situated on 1.05 acres, the building features 24,866 square feet of office space. Brett Sherman of Angel Commercial represented the seller, while Lester Fradkoff of Angel Commercial represented the buyer.

June 22, 2016

Connecticut Northeast Retail

Katz Properties Acquires 147,241 SF Shopping Center in Connecticut for $21.6M

by Amy Works June 17, 2016

WATERBURY, CONN. — Katz Properties has acquired Mattatuck Commons, a shopping center in Waterbury, for $21.6 million. Situated on 17.72 acres along Route 69, the center features 147,241 square feet of retail space. At the time of sale, the property was 78 percent occupied by a variety of national tenants, including ShopRite, Sleepy’s, Goodwill, GameStop and Taco Bell. The name of the seller was not released.

June 17, 2016

Newer Posts

Older Posts