Connecticut

O,R&L Commercial Arranges Sale of 12,750 SF Flex Building in Connecticut

by Amy Works May 18, 2015

CROMWELL, CONN. — O,R&L Commercial has brokered the sale of a flex building located at 800 Corporate Row in Cromwell. Buhl Land East IV LLC sold the 12,750-square-foot property for $1.05 million to Matthew Esler. The property features four drive-in doors and two loading docks. Renewal by Andersen will occupy the facility for its marketing and sales office, as well as a distribution hub for doors and windows. Frank Hird of O,R&L Commercial represented the seller, while Bob Gaucher, also of O,R&L, represented the buyer in the transaction.

May 18, 2015

Connecticut Northeast Retail

Cinépolis USA to Join Bridgeport’s $750M Steelpointe Harbor

by Amy Works May 14, 2015

BRIDGEPORT, CONN. — Cinépolis USA has signed on to open a luxury 12-screen, 1,200-seat hybrid theater at Steelpointe Harbor, a mixed-use development in Bridgeport. The 50,000-square-foot theater will offer five Cinépolis Luxury Cinemas auditoriums with fully reclining leather seats and in-theater waiter service and dining with a full bar, and seven Cinépolis auditoriums with comfortable seating and access to a gourmet menu and full bar in the lobby. The theater, which is slated to open in 2017, will be the company’s first location in Connecticut. Bridgeport Landing Development LLC, a subsidiary of The RCI Group, is developing Steelpointe Harbor, a two million-square-foot waterfront project. The first phase of the development is slated to open this year and construction on the second phase scheduled to begin in 2016.

May 14, 2015

Connecticut Northeast Retail

HK Group Brokers $22.5M Sale of Retail Property in Connecticut

by Amy Works May 13, 2015

WESTPORT, CONN. — HK Group has brokered the sale of a retail property located at 44 Main St. in Westport. An affiliate of Westport-based Paragon Realty Group, in partnership with Clarion Partners, purchased the property for $22.5 million from 44 Main Street Inc. Built in 1909, the 22,873-square-foot three-story property is currently occupied by Banana Republic and The Nail Spa Bless Corp. The property is zoned BCD – Business Center District. Matthew Keefe, David Lindland and Franco Fellah of HK Group were the sole brokers in the transaction. Steven Siegelaub of Berkowitz, Trager & Trager and David Godfrey of Gunn Godfrey Allison provided legal counsel for the seller.

May 13, 2015

Connecticut Northeast Office

Cushman & Wakefield Brokers Sale of 300,000 SF Office Campus in Connecticut

by Amy Works May 8, 2015

STAMFORD, CONN. — Cushman & Wakefield has brokered the sale of Airport Campus, a two-building office campus located at 113 King Street in Stamford. MBIA sold the property for an undisclosed price to a joint venture between affiliates of Steven Wise Associates LLC and the Manocherian family. Situated on 38 acres, the campus comprises a 110,000-square-foot building and a 190,000-square-foot property, as well as approvals to expand the facility by more than 240,000 square feet. The campus features a 250-person cafeteria; fitness center; auditorium and video conference center; 17 conference rooms; three meeting rooms; walking trails; tennis, basketball and volleyball courts; and facilities for a sundry shop, ATM, dry cleaner and professional mailroom. Thomas O’Leary, Maureen O’Boyle and Gerry Lees of Cushman & Wakefield represented the seller in the transaction. The buyer has retained Trip Hoffman, Matthew Lisk and Mike McCarthy of Cushman & Wakefield as leasing agents for the property.

May 8, 2015

Connecticut Loans Mixed-Use Multifamily New York Northeast Retail

Avant Capital Partners Originates $6.3M in Bridge Loans for Two Properties

by Amy Works May 7, 2015

NEW YORK CITY AND GREENWICH, CONN. — Avant Capital Partners has originated $6.3 million in bridge loans for two properties in Manhattan and Greenwich. The project located in Manhattan’s Midtown West neighborhood comprises three contiguous mixed-use properties offering 20 apartments and three ground-floor retail units in a total of 16,916 square feet. In Greenwich, the asset consists of four under-construction condominium units. Each unit will feature three bedrooms, 3.5 bathrooms and high-end interior finishes, including hardwood floors and high ceilings. The average unit size for the condos is 3,650 square feet.

May 7, 2015

Connecticut Northeast Retail

Thimble Island Brewing Co. Inks Lease for 30,000 SF Building in Connecticut

by Amy Works May 6, 2015

BRANFORD, CONN. — Thimble Island Brewing Co. (TIBC) has signed a lease for a 30,000-square-foot building, located at 16 Business Park Dr. in Branford. TIBC is expected to open the doors of the newly renovated and expanded facility this summer. Founded in 2012, TIBC now offers several standard varieties on tap at bars and restaurants throughout the Connecticut shoreline, as well as specialty brews in the brewery’s tasting room. Tim McMahon of O,R&L Commercial represented TIBC in the transaction.

May 6, 2015

Connecticut Multifamily Northeast

Marcus & Millichap Brokers $3.9M Sale of Apartment Building in Connecticut

by Amy Works April 27, 2015

NEW HAVEN, CONN. — Marcus & Millichap has brokered the sale of an apartment building located at 441 Chapel St. in New Haven. The 17-unit property sold for $3.9 million, or $143 per square foot. Eric Pentore, Wesley Klockner, L.A. Drinkwater and Seth Richard of Marcus & Millichap represented the seller and the buyer, both limited liability companies, in the transaction.

April 27, 2015

Connecticut Northeast Office

Press/Cuozzo Arranges $1M Sale of Office Building in Connecticut

by Amy Works April 22, 2015

NORTH HAVEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a professional/medical building located at 100 Broadway in North Haven. 100 Broadway North Haven LLC purchased the 11,000-square-foot property for $1 million from Bass Inc. Stephen Press of Press/Cuozzo represented the buyer, while Susan Criscuolo, also of Press/Cuozzo, represented the seller in the transaction.

April 22, 2015

Connecticut Multifamily Northeast

Harbor Group International Sells Connecticut Apartment Community for $17.6M

by Amy Works April 20, 2015

DANBURY, CONN. — An affiliate of Harbor Group International has sold Towne Brooke Apartments, a 102-unit apartment community in Danbury. An undisclosed buyer acquired the property for $17.6 million. Built in 2009, the property features a clubhouse, 24-hour fitness center and an outdoor pool. Apartments feature nine-foot ceilings, GE appliances, full-size washer and dryers, walk-in closets, wood kitchen cabinetry, ceiling fans in bedrooms and balconies or patios. At the time of the sale the property was 93 percent occupied.

April 20, 2015

Connecticut Industrial Northeast

Gramercy Property Trust Buys 24,700 SF Facility in Connecticut

by Amy Works April 14, 2015

MILFORD, CONN. — Gramercy Property Trust has acquired a 24,700-square-foot facility located at 250 Research Dr. in Milford. Darobara Milford LLC and 95 CT LLC sold the property for an undisclosed price. FedEx currently occupies the property. Lew Finkelstein and CJ Huter of The Goldstein Group represented the seller in the transaction.

April 14, 2015

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