Connecticut

ClearRock Properties, Contrarian Capital Management Sell 247,310 SF Office Complex in Connecticut

by Amy Works October 14, 2015

STAMFORD, CONN. — ClearRock Properties, in partnership with Contrarian Capital Management, has completed the disposition of a three-building, 247,310-square-foot waterfront office complex in the South End of Stamford. ClearRock formed a partnership with Mountain Development Corp. and Gottesman Real Estate Partners to reacquire the assets for an undisclosed price. The complex includes the 89,637-square-foot former industrial property at 700 Canal St.; the 67,673-square-foot office building at 850 Canal St.; and the 90,000-square-foot office building, which includes 1,000 linear feet of dock space, at 860 Canal St. Andrew Merin, David Bernhart, Gary Gabriel and Thomas O’Leary of Cushman & Wakefield represented the seller in the transaction.

October 14, 2015

Connecticut Industrial Northeast

Sentry Commercial Arranges 33,000 SF Industrial Lease in Connecticut

by Amy Works October 13, 2015

BRISTOL, CONN. — Sentry Commercial has arranged the lease of 33,000 square feet of industrial space at 360 Minor St. in Bristol. Benjamin International, a wholesale import, manufacturing and design company, is relocating from its 16,000-square-foot facility at 125 N. Benson Road in Middlebury, Conn. The relocation and expansion of the tenant to the 208,000-square-foot industrial complex is expected to bring more than 30 new jobs to the area.

October 13, 2015

Connecticut Industrial Northeast

HK Group Arranges $4.8M Sale of Industrial Property in Connecticut

by Amy Works October 12, 2015

HARTFORD, CONN. — HK Group has brokered the sale of an industrial property located at 101 Locust St. in Hartford. Situated on 6 acres, the 73,458-square-foot property sold for $4.8 million. The property is currently leased to Pitney Bowes Presort Services Inc., a wholly owned subsidiary of Pitney Bowes. The buyer was a Manhattan-based real estate investment company. Matthew Keefe and Franco Fellah of HK Group brokered the transaction.

October 12, 2015

Connecticut Healthcare Northeast

The Davis Companies Opens Westport Center for Health in Connecticut

by Amy Works October 8, 2015

WESTPORT, CONN. — The Davis Companies has completed the renovation of an underutilized office park at 321-329 Riverside Ave. in Westport to create Westport Center for Health. The center offers 38,000 square feet of medical office space. The center is now open and The Davis Companies has executed leases with Village Pediatrics and Women’s Health Connecticut. The center is located directly off Interstate 95, less than one mile from the Westport Train Station and the town center. Sean McDonnell, Lori Baker and Eva Kornreich of Avison Young are handling leasing efforts for the property.

October 8, 2015

Connecticut Loans Multifamily Northeast

CBRE/NE Secures $5.5M Loan for Multifamily Property Acquisition

by Amy Works October 6, 2015

HARTFORD, CONN. — CBRE/New England’s Multifamily Debt & Structured Finance Group has secured $5.5 million in financing for the $6.9 million acquisition of 184 Washington Street, a multifamily property in Hartford. Premier Properties West, an affiliate of BrickPoint Capital, acquired the property, which is also known as Lafayette Arms. Developed in 1968, the property has undergone numerous amenity and unit renovations. Each of the 136 apartment units features a galley-style or open kitchen, a living room and bedrooms with carpeted floors. John Kelly and Sam Dylag of CBRE/NE arranged the 10-year, non-recourse acquisition loan for the undisclosed borrower through a Connecticut-based bank.

October 6, 2015

Connecticut Northeast Office

Trevor Davis Commercial Real Estate Arranges Four Leases at Middletown Business Park

by Amy Works October 6, 2015

MIDDLETOWN, CONN. — Trevor Davis Commercial Real Estate LLC has arranged four leases at Middletown Business Park in Middletown. New Tech Installation leased 3,171 square feet; the State of Connecticut Department of Administrative Services, Department of Rehabilitation Services inked a deal for 1,340 square feet; UBTS leased 583 square feet; and A&B Home Health Care will occupy 411 square feet. The landlord is BostonMiddletown LLC. Trevor Davis of Trevor Davis Commercial was the sole broker in the transactions. The 75,000-square-foot office and light industrial park is now 85 percent occupied.

October 6, 2015

Connecticut Loans Northeast Office

EagleBridge Capital Arranges $20.7M Sale, $15M Loan for Office Property in Connecticut

by Amy Works October 2, 2015

HARTFORD, CONN. — EagleBridge Capital has arranged the sale of Saint Francis Information Technology and Finance Center in Hartford. Located at 103 Woodland St., the five-story, 57,753-square-foot office property sold for $20.7 million. The building is triple-net leased to Saint Francis Hospital & Medical Center on a long-term basis and houses administrative, information technology and finance offices. In addition, EagleBridge Capital arranged $15 million in permanent mortgage financing for the property. Ted Sidel and Brian Sheehan of EagleBridge Capital arranged the sale and financing.

October 2, 2015

Connecticut Northeast Office

Allied Property Group Arranges $8.4M Office Building Sale in Connecticut

by Amy Works September 24, 2015

GREENWICH, CONN. — Allied Property Group has brokered the sale of an office building located at 88 Field Point Road in Greenwich. Field Post Associates LLC acquired the 11,300-square-foot property for $8.4 million from Fairstone Properties LLC. Thomas Torelli of Allied Property Group represented both parties in the transaction.

September 24, 2015

Connecticut Mixed-Use Northeast Office Retail

Allied Property Group Brokers $13.5M Sale of Mixed-Use Building in Connecticut

by Amy Works September 23, 2015

GREENWICH, CONN. — Allied Property Group has arranged the sale of a mixed-use building located at 125 Greenwich Ave. in Greenwich. JENN Realty sold the property to an undisclosed buyer for $13.5 million. The three-story building features 16,000 rentable square feet. Thomas Torelli of Allied Property Group represented the seller, while Goldschmidt Associates represented the buyer in the transaction.

September 23, 2015

Connecticut Northeast Office

Partnership Acquires Three-Building Commercial Portfolio in Connecticut

by Amy Works September 18, 2015

STAMFORD, CONN. — ClearRock Properties, Gottesman Real Estate Partners and Mountain Development Corp. have acquired a three-building commercial portfolio, located at 700, 850 and 860 Canal St. in Stamford, for an undisclosed price. Guggenheim Partners provided an 11-year, fixed-rate loan for the acquisition. Current tenants of the 250,000-square-foot portfolio include United States Beverage, Sustainable America, Red Thread, Unger Publishing, Monjasa, Arccos Golf, KFL Capital Partners, Hildene Capital Management, Harbor Square Capital Management and Peninsula Petroleum. The name of the seller was not released.

September 18, 2015

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