SALES

 

Farrel Complex Fetches $2M

ANSONIA –– Washington Management, LLC has purchased the 398,107 square foot Farrel Corp. complex at 25 Main Street for $1.9 million. Alan Fischer of Fischer Real Estate represented the seller, Ansonia Real Estate Holdings, LLC. Vance Taylor of the Commercial Real Estate Group represented the buyer, which plans to transform the ten-acre downtown site with ten buildings into a mixed-use development with retail, offices and condominiums.

 

Take It to the Bank

NEW HAVEN –– An 11,306-square-foot brick building at 215 Church Street has been sold for $1.9 million. The Bank of Southern Connecticut currently leases the space for its main branch and corporate offices. Frank Micali of Capitalize 360 Group LLC represented the buyer, Netz-215 Church. Stephen Press of Press/Cuozzo represented the seller, 215 Church Street, LLC.

 

LEASES

From Restaurant to Retail

CHESHIRE –– FoodWorks has leased 5,800 square feet at 959 South Main Street, replacing a Chinese restaurant that closed its doors over two years ago.

“I just kept trying to rent it to a restaurant,” says Lorraine Tartaglia, a principal with Tartaglia Commercial Properties of Monroe, which owns the 60,000-square-foot shopping center where FoodWorks will be opening its fourth Connecticut store. “It was too big, and I eventually decided to turn it into retail."

Tartaglia handled the negotiations between the landlord, Cheshire ILMR LLC, and FoodWorks, which is one of her tenants at Clock Tower Square in Monroe, another of the 20 shopping centers her company owns in Connecticut.   

Tartaglia has seen an uptick in retail renting as of late.

“We signed eight leases in the last four months,” she reports.

Four leases were at 835 Wolcott Street, Waterbury, where new tenants include AAA, leasing 2,000 square feet and Beltone, leasing 900 square feet. Les Frankoff of Prudential represented AAA.

Another deal was at 477 Main Street, Monroe, where Nuvita Frozen Yogurt signed a five-year lease for 2,486 square feet for its fourth Connecticut store. Jeff Kintzer of Royal Properties represented the tenant.

 

Crunch Time in Orange

ORANGE –– Crunch Fitness has signed a 15-year lease with two five-year options for 28,000 square feet at 440 Boston Post Road, a vacant space since Office Max departed in 2006. Frank Bowser of PPG Properties was sole broker in the transaction. The landlord is RPAI America.

“We’re building out the fitness center, with a complete demolition of the interior and up to $1 million in renovations,” says PPG CEO Bryan Bowser. “What’s nice is we take it from the minute that we have the idea that a space has got to be leased, we negotiate and lock up the lease, go through permitting for the town, build it out and at the end of the day hand them the key. We also manage the property.

“We’re looking at an early May [2013] opening,” Bowser adds.

In December 2012, PPG brokered a similar deal for 22,000 square feet for a Crunch Fitness gym at 1100 Barnum Avenue in Stratford.

“We will be doing several other ones, targeting Stamford, Danbury and other areas,” Bowser explains.

Over the past couple of years PPG has filled vacant storefronts, many on the Boston Post Road in Orange, with businesses including Hibachi Grill and Jake’s Wayback Burgers.

“We concentrate on large boxes and small,” Bowser says. “Instead of taking clients from across the street we go out of the state and find companies looking to expand in Connecticut.”

In October, two days after Hurricane Sandy, PPG brokered a 4,100-square-foot lease deal for a State Farm disaster claims center in Orange, at 477 Boston Post Road.

 

Celldex Leases in Branford

BRANFORD –– Celldex Therapeutics Inc. has leased 6,600 square feet at 688 East Main Street. Cameron Duffy of Jones Lang LaSalle represented the tenant. Kristin Geenty of the Geenty Group, Realtors represented the landlord, Parish Farm Partners, LLC. 

 

Broker to Biz Park

BRANFORD –– Investment One Equity Brokers, LLC has leased 1,040 square feet at 9 Business Park Drive. Barry Stratton of the Geenty Group, Realtors represented the landlord, Bellaire Properties, LLC.  Edward Shattuck of Greater New Haven Realty represented the tenant.

 

Not Bailing on E. Haven

EAST HAVEN –– New England Bail Bonds, LLC has leased 650 square feet at 57 High Street. Barry Stratton of the Geenty Group, Realtors was sole broker in the transaction. The landlords are Gury and Felicia Grippo.

 

Security Firm Pens 5-Year Lease

HAMDEN –– Ducibella Venter & Santoro has signed a five-year lease for 3,400 square feet at 1004 Sherman Avenue. Joel Nesson of Press/Cuozzo Commercial Services was sole broker in the deal, representing the security consulting and engineering firm and the landlord, WTE 1020 Sherman LLC.

 

Rocking Out in Madison

MADISON ­­–– The School of Rock has leased 3,000 square feet at 845 Boston Post Road. Steve Inglese and Rob Montesi of the New Haven Group represented the tenant. Frank Hird of OR& L Commercial represented the landlord, David Realty, LLC.

 

Digitech to Research Drive

MILFORD –– Digitech Imaging Solutions, LLC has leased 800 square feet at 249 Research Drive. Scott Zakos of Vidal Wettenstein represented Digitech. Bill Clark of the Geenty Group, Realtors represented the landlord, D’Amato Investments, LLC.

 

Ten-Year Deal for Builder

NORTH HAVEN — A-Plus Building Supply, LLC has signed a ten-year lease valued at $700,000 for 171 McDermott Road. The property includes a 9,000-square-foot industrial building and three acres of parking and outside storage area. Steve Miller of Levey Miller Maretz Commercial Real Estate Services was the sole broker. The landlords are Anthony DePaola and Vincent DePaola.

 

Tapped Out on Rt. 1

ORANGE –– Prime 16 Tap House & Burgers has leased 5,000 square feet at 464 Boston Post Road. Mike Richetelli and Fred A. Messore of Colonial Properties were the sole brokers. The landlord is Leveraged Equities, LTD.