Investor Buys Essex Property
ESSEX –– Investor Amy Smith Sroka has purchased a 4,087-square-foot multi-tenanted building at 35 Main Street for $725,000. Kevin and Kristin Geenty of the Geenty Group, Realtors represented the seller, Bible Hill Associates, LLC. Kathy Schellen of William Pitt Sotheby’s in Essex represented the buyer.
West Gate Fetches $12.5M
NEW HAVEN –– Eagle Rock Advisors, LLC has bought West Gate Town Homes, a 135-unit town home community at 35 Cooper Place, for $12.5 million. Jeffrey Dunne and Christopher Leonard of CBRE's New York Institutional Group, Gene Pride, vice president of CBRE's Private Capital Group and Mike Stone of CBRE's Hartford office represented the seller, Westgate HH LLC, an entity controlled by Capmark Financial Group Inc. The buyer, a Manhattan-based investment firm, was unrepresented.
Pride said more than 100 investors were interested in the property, and the more than a dozen who submitted bids came from four states and two countries outside the U.S.
Dixwell Ave. Bldg. Sold
NEW HAVEN –– Robert Rodriguez has purchased a 1,404-square-foot building at 304 Dixwell Avenue for $95,000. Harold Kent of Levy Miller Maretz was sole broker in the transaction. The seller was Yogi Patel.
Med Office Buildings Sold
NEW HAVEN — Two Whitney Avenue medical office buildings have been purchased for a total of approximately $35 million. An 82,000-square-foot building at 2200 Whitney Avenue was sold by Whitney Medical Limited Partnership and acquired by 2200 Real Estate. A 52,000-square-foot building at 2080 Whitney Avenue was sold by Twenty Eighty Limited Partnership and bought by 2080 Real Estate, LLC. Both buildings have been fully occupied for 15 years. Matthew Keefe of HK Group was sole broker in the deal.
Group Buys Section 8 Apts.
NEW HAVEN — Berger Apartments, a Section 8 elderly multifamily property at 135 Derby Avenue, has been purchased for $11.2 million. Institutional Property Advisors (IPA) arranged the cash sale. Steve Witten, Victor Nolletti, Paul Davis and Andy Daitch represented the seller, Aimco, and the buyer, Steele Property Holding, LLC. Originally built in 1900 as the Berger Brothers Corset Factory, the property was converted to 123 one-bedroom and 21 two-bedroom apartments in 1981.
Third Time’s the Charm
ROCKY HILL –– Indetail, LLC of Norwalk has purchased a 15,000-square-foot shopping plaza at 396 Cromwell Avenue for $4.5 million. Dan Garofalo of Reno Properties Group brokered the sale, representing both Indetail and the seller, Cromwell Avenue Shops, LLC of Newington.
The $300-per-square-foot sales price “represents the high benchmark for retail investment property sales in Rocky Hill and surrounding towns," according to Reno Properties. The multi-tenant shopping center is fully leased to Connecticut Bank & Trust, Rocky Hill Eye Associates, Velocity Urgent Care and Asian Bistro restaurant.
“I’ve sold the property three times,” Garofalo said. “The first time was in 2006, when Arch Restaurant and Banquet Center bought it from Developers Realty Corp. for $1.27 million. The second time was in 2010, when Cromwell Avenue Shops purchased it for $2.5 million.”
Branford Commercial Lease
BRANFORD — Husqvarna Construction Products has leased 6,500 square feet at 6 Sycamore Way for its new southern Connecticut services facility. Mark Duclos of Sentry Commercial represented the tenant. Robert Dow of Dow Realty represented the landlord, Gentile Development, LLC.
Hamden Plaza 100% Full
HAMDEN –– Hamden Plaza is fully occupied. Mark J. Brockwell, president of MJB Real Estate Services of Westport, the plaza’s exclusive agent and property manager, reported that Planet Fitness’ recent lease of 22,000 square feet completely filled the 260,000-square-foot plaza at 2100 Dixwell Avenue. MJB Vice President Dan Johnson was sole broker for the Planet Fitness lease as well as for other recent Hamden Plaza leases to Froyo World and Moe’s Southwest Restaurant.
Meriden Firm Expands
MERIDEN –– In a second expansion, Cable Management, LLC has leased 3,400 more square feet at Meriden Enterprise Center, 290 Pratt Street, for a total of 25,400 square feet at the location. Peter S. Shiue of Colliers International was sole broker in transaction. The landlord is 290 Pratt Street, LLC.
Energy Firm to State Street
NORTH HAVEN — Next Step Living has leased 4,500 square feet at 285 State Street. Mark Duclos of Sentry Commercial represented the tenant, a residential energy efficiencies and renewables company. Fred Petrella of Connecticut Realty Group represented the landlord, Elm City Industrial Properties.
Rocky Hill Lease
ROCKY HILL –– TRC Environmental Corp. has leased 3,348 square feet at 101 Corporate Place. Larry Levere of Sentry Commercial represented the landlord, CATIC Financial Inc. Shawn McMahon of Jones Lang LaSalle Americas represented the tenant.
Here Comes the Sun
NORTH HAVEN –– Apricus, a designer and manufacturer of solar hot water and hydronic heating products, has relocated its North American corporate headquarters from Branford to 370 State Street, a 36,000-square-foot multi-tenanted facility owned by the Hurley Group. Joel Nesson Press/Cuozzo Commercial Services was the sole broker.
Occupying Wall Street
MADISON –– Madison Dental LLC has leased 2,000 square feet, the entire first floor of 90 Wall Street, part of the new Clarity Commons Project. Rich Guralnick of H. Pearce Commercial was the sole broker in the transaction. The landlord is S&R Holdings, LLC.