Connecticut

Press/Cuozzo Commercial Brokers Sale of 3,830 SF Day Care Facility

by Amy Works July 28, 2015

NORTH HAVEN, CONN. — Press/Cuozzo Commercial has brokered the sale of a two-building former day care facility located at 20 Peck St. in North Haven. Situated on slightly more than one-half acre, the buildings total 3,830 square feet. The buyer, Lauren Grogan, acquired the property from K&J Holding LLC for an undisclosed sum. The buyer plans to renovate the properties. Stephen Press of Press/Cuozzo represented the seller, while Lou Proto of The Proto Group represented the buyer in the transaction.

July 28, 2015

Connecticut Loans Multifamily Northeast

Colliers Secures $43M Construction Loan for State Street Lofts in Connecticut

by Amy Works July 23, 2015

NEW HAVEN, CONN. — Colliers International has arranged and closed joint venture equity and construction financing for the development of State Street Lofts in New Haven. Working on behalf of the developer, Post Road Residential Inc., Colliers secured $43 million in construction financing from PNC Bank, as well as joint venture equity capital from an affiliate of The Carlyle Group. Slated for completion in 2016, State Street Lofts will include 235 apartments, 275 parking spaces in an attached garage, 10,000 square feet of amenity space and 4,000 square feet of ground-floor retail space. On-site amenities include a fitness center with yoga studio, resident lounge spaces with high-speed Wi-Fi, a library, a resort-style pool with enclosed courtyard, a 7,000-square-foot roof deck, a dog wash station and a bike maintenance room with storage for 240 bikes. Jeff Black and Kevin Phelan led the Colliers team that represented Post Road Residential Inc.

July 23, 2015

Connecticut Healthcare Loans Northeast Office

Fantini & Gorga Arranges $12.9M Loan for Two Medical Office Buildings in Connecticut

by Amy Works July 22, 2015

HAMDEN, CONN. — Fantini & Gorga has arranged $12.9 million in first mortgage permanent financing for two medical office buildings in Hamden, a city in southeast Connecticut. Totaling 65,216 square feet, the properties are fully leased and occupied by regional and local medical practices. Casimir Groblewski of Fantini & Gorga arranged the refinancing with a major securitization lender for the borrower, a New England-based real estate developer and investor.

July 22, 2015

Connecticut Northeast Retail

Cumberland Farms Buys 1.3-Acre Land Parcel in Connecticut

by Amy Works July 21, 2015

ROCKY HILL, CONN. — Cumberland Farms has acquired a 1.3-acre land parcel at the corner of Cromwell Avenue and France Street in Rocky Hill. The property was acquired from Rue de France LLC and 741 Cromwell Ave. LLC, both subsidiaries of Wethersfield, Conn.-based New England Realty Properties, for an undisclosed price. Massachusetts-based Cumberland Farms is a convenience store chain that operates 600 stores in 11 states. The stores offer any-size coffee for 99 cents, competitively priced gasoline, freshly prepared hot sandwiches, a shake machine and no-fee ATMs.

July 21, 2015

Connecticut Industrial Northeast

O,R&L Commercial Arranges 12,760 SF Industrial Lease in Connecticut

by Amy Works July 17, 2015

CHESHIRE, CONN. — O,R&L Commercial has arranged the lease of 12,760 square feet at 150 Sandbank Road in Cheshire. The Rankin Group Inc. will use the industrial/flex space to expand its services in New England and the New York/Mid-Atlantic region. Rich Guarlnick of O,R&L Commercial represented the landlord, Marshall Enterprises LLC, while Tim D’Addabo of Cushman & Wakefield represented the tenant in the transaction. Additional terms of the lease were not released.

July 17, 2015

Connecticut Loans Northeast Office

Integra Real Estate Capital Advises $65M Acquisition Loan for Office Complex

by Amy Works July 13, 2015

HARTFORD, CONN. — Integra Real Estate Capital has advised a $65 million loan for the acquisition of Constitution Plaza in Hartford. The five-building complex offers 665,000 square feet of office space and 1,743 parking spaces. Meyer Perlman of Integra advised the borrower, a New York-based investment group, on the three-year non-recourse loan, which was provided by a national balance sheet lender.

July 13, 2015

Connecticut Northeast Office

Building and Land Technology Inks 68,500 SF of Office Leases at Merritt on the River

by Amy Works July 13, 2015

NORWALK, CONN. — Building and Land Technology has signed 68,500 square feet of office leases at Merritt on the River, a 225,000-square-foot office building located at 20 Glover Ave. in Norwalk. Rocaton Investment Advisors signed a new leased for 21,228 square feet. The company will relocate to the new space this fall from Merritt 7 Corporate Park. Ed Tonnessen and Ethan Rice of JLL represented the tenant in the deal. Wilton Re is also relocating to Merritt on the River from 187 Danby Road in Wilton, Conn. Kevin Foley and William Montague of Cushman & Wakefield represented the tenant in the 21,480-square-foot transaction. Additionally, Aetna renewed its 5,934-square-foot lease and McKesson Health Solutions renewed its 10,859-square-foot lease. Paul Tortora and William Fitzgerald of JLL represented Aetna, and Kevin McCarthy of CBRE represented McKesson in the transactions.

July 13, 2015

Connecticut Northeast Office

Building and Land Technology Acquires 550,000 SF Office Complex in Connecticut

by Amy Works July 8, 2015

STAMFORD, CONN. — Building and Land Technology (BLT) has acquired a 550,000-square-foot office complex, located at 1 Elmcroft Road in Stamford. Designed by I.M. Pei & Partners, the property is the former headquarters of Pitney Bowes. BLT acquired the vacant complex fromby Pitney Bowes for an undisclosed sum. The property is located adjacent to Harbor Point, the transformative mixed-use waterfront development in Stamford. BLT plans to reintroduce the complex to the market as prime office space.

July 8, 2015

Connecticut Northeast Restaurant Retail

R. Calabrese Agency Brokers 3,000 SF Restaurant Lease in Connecticut

by Amy Works July 7, 2015

SOUTHINGTON, CONN. — R. Calabrese Agency has brokered the lease of 3,000 square feet of retail space to Noodles & Company. Located at 832 Queen St. in Southington, the restaurant is the company’s third location in Connecticut. Tony Valenti and Ralph Calabrese of R. Calabrese Agency represented the landlord, West Queen Developers LLC, while Brian Zelman of Zelman Real Estate Brokerage LLC represented the tenant, Hartford Noodles LLC, the Noodles & Company franchisee, in the transaction.

July 7, 2015

Connecticut Northeast Retail

O,R&L Commercial Brokers 26,035 SF Retail Lease in Connecticut

by Amy Works June 26, 2015

ENFIELD, CONN. — O,R&L Commercial has brokered the lease of 26,035 square feet of retail space in Enfield to Crown Furniture. The furniture store will join Dollar General, Whirly Ball and a local comic book store at the fully occupied 57,322-square-foot retail center at 481 Enfield St. Crown Furniture is relocating from its current space in West Springfield, Mass. Robert Gaucher of O,R&L Commercial brokered the transaction.

June 26, 2015

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