New Home for Olde Ways
HAMDEN –– Olde Ways, LLC has purchased an 18,5000-square-foot industrial building at 1050 Sherman Avenue for $575.000. Stephen Press and Joel Nesson of Press/Cuozzo represented the seller, LILEE Association, LLC, while Press procured the buyer.
$72 Million Milford Deal
MILFORD –– Two portfolios totaling 335 multifamily units and 47,6000 square feet have been purchased for $72.4 million.
Victor Nolletti and Steve Witten of Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, arranged the sales to Perpetual Real Estate Partners, LP and Wolff Enterprises II, LLC.
Perpetual Real Estate Partners LP bought Spinnaker Wharf, Spinnaker Walk and Spinnaker Square — a portfolio overlooking Milford Harbor with 107 rental units and 38,963 square feet of retail/commercial space in downtown Milford –– for $31,800,138. “This is irreplaceable real estate,” Witten said in a statement.
Wolf Enterprises paid $40,603,227 for Spinnaker Brook, Spinnaker Chase, Spinnaker Crest, Spinnaker Green, Spinnaker Hunt and Spinnaker Station –– a portfolio with 228 multifamily units and 8,731 square feet of commercial space near the Milford train station. “These assets are poised to provide excellent returns for their respective investors,” Nolletti said.
Middletown Apts. Fetch $27M
MIDDLETOWN –– Windshire Terrace, an 11-building property with 226 apartments on 15 acres at 72 Forest Glen Circle, has been sold for $27 million. The buyer, Fairfield Residential Co, was self-represented. CB Richard Ellis represented the seller, New Boston Fund.
One In, One Out in Milford
MILFORD –– KBC Electronics Inc. has purchased an 8,044-square-foot industrial building at 273 Pepes Farm Road for $630,000. KBC, which makes products for the automotive, medical, military and residential markets, acquired the property from Baron Consulting. Baron will move to 181 Research Drive, where it recently signed a lease for 3,200 square feet. The landlord is D’Amato Investments. Baron’s services include chemical analysis, and environmental, biochemical, biotechnical and industrial hygiene testing.
Angel Commercial was the sole broker in the purchase and lease negotiations. “The needs and requirements of KBC Electronics and Baron Consulting were ideally matched in terms of property specifications and timings,” said company president Jon Angel.
Pricy N.H. Parking Garage
NEW HAVEN –– A five-acre parking and repair facility with an 8,000-square-foot garage at 164-170 Middletown Avenue has been sold for $1,850,000. The buyer is 170 Middletown Ave., LLC. The sellers were Salvatore and Louis DeLucia. Marty Ruff of Levey Miller Maretz was the sole broker in the transaction.
APT Buys in No. Haven
NORTH HAVEN –– The APT Foundation has purchased a 10,145-square-foot building sited on 2.45 acres at 352 State Street for $1 million. Steve Miller of Levey Miller Maretz represented the buyer. Ken Ginsberg of NAI Elite represented the seller, L&M Realty, LLC.
Some Assembly Required
STRATFORD –– Cactus, LLC has purchased an 11,181-square-foot building at 300 Benton Street for $760,000. The seller was 300 Benton Street Associates, LLC. Cactus will use some 4,500 square feet for light assembly and storage; the remainder of the building is leased to long-term tenants. Angel Commercial represented both parties in the deal.
Guralnick Legend Grows
BRANFORD –– Research & Design Innovations LLC has signed a five-year lease for 7,350 feet at 33 Business Place Drive. Rich Gualnick of H. Pearce Commercial was sole broker in the transaction. The landlord is Business 2 Park Realty.
Things Cooking for Caterer
BRANFORD –– Catering By Christine has inked a two-year lease for 1,850 square feet at 906 West Main Street. Brita McGee of Colonial Properties was the sole broker. The landlords are Bruno and Angela Ceniccola.
MILFORD –– Delphis Woodworks, LLC has leased 800 square feet at 233 Research Drive. Geenty Group Senior Vice President Bill Clark was sole agent in the deal. The landlord is D’Amato Investments.
Plantscaper’s Biz Blooming
MILFORD –– Connecticut Plantscaping has leased 800 square feet at 225 Research Drive for storing and distributing indoor plants.
The Geenty Group’s Bill Clark represented the landlord, D'Amato Investments, LLC. Noreen Daniells of Coldwell Banker represented the tenant.
From Bagels to Braciola
MILFORD –– Piada Italian Kitchen has penned a five-year lease for 2,600 square feet at 1590 Boston Post Road, formerly occupied by Village Bagels. Brita McGee of Colonial Properties was the sole broker. The landlord is Milford Post Associates, LLC.
Milford Industrial Lease
MILFORD –– American Custom, LLC has leased approximately 3,000 square feet of industrial space at 43 Eastern Steel Road. Angel Commercial represented the tenant and the landlord, Connors Properties, LLC.
Marlin Biz Ctr. Lures Non-Profit
NEW HAVEN –– Coordinating Council for Children in Crisis Inc. has signed an 11-year lease for 10,500 square feet at the Marlin Business Center, 235 Nicoll Street. Steve Miller of Levey Miller Maretz represented the tenant. Richard Lee of OR&L Commercial, represented the landlord, 85 Willow Street NH, LLC.
New Papa John’s in Orange
ORANGE – Papa John's Pizza has signed a five-year lease for 2,000 square feet at 112 Boston Post Road. Brita McGee of Colonial Properties represented the tenant. Tyler Lyman of RHYS represented the landlord, Post Hill Limited Partnership.
Firelite Lures New Tenant
ORANGE –– Mercury Medical has leased 900 square feet of office space for three years at the Firelite Shopping Center, 35 Old Tavern Road. Brita McGee of Colonial Properties represented the tenant. Royal Properties represented the landlord, Orange Firelite Properties LLC.
M&A Firm to Woodbridge
WOORDBRIDGE –– The Woodbridge Group, LLC has signed a lease at 1764 Litchfield Turnpike that includes the build-out of 3,000 square feet. Steve Miller of Levey Miller Maretz represented the tenant, an international mergers and acquisitions firm. Steven Ingeles of the New Haven Group represented the owner, 1764 Litchfield Turnpike, LLC.
By Jove, It’s Bicuspids!
NEW HAVEN –– Dentist Shyam Desai has signed a six-year lease for 2,500 square feet at 883 Whalley Avenue. Steve Miller of Levey Miller Maretz represented the landlord, 883 Whalley Avenue, LLC. John LaBella of ReMax Right Choice represented the tenant.