SALES

 

UNH Acquires Hubbell Campus

ORANGE –– The University of New Haven has purchased the former Hubbell Inc. headquarters at 584 Derby-Milford Road for $3.03 million. The 70,000-square-foot, Class A building on 46 acres will become a new graduate campus. Christopher O'Hara of Coldwell Banker Commercial NRT Inc. and Tom Pulie of USI represented Hubbell, and O’Hara represented the university.

 

 

Milford Place Sold

MILFORD –– Milford Place Corporate Center has a new owner. Total Mortgage Services, LLC recently purchased the 143,802-square-foot Class A office building at 185 Plains Road for $5.25 million for use as its headquarters. The deal includes 16 acres and more than 560 parking spaces. Dan Boynton of Boynton Commercial represented the buyer. Daven Hansen of CBRE represented the seller, a unit of Boston-based CommonWealth REIT. The center currently has six tenants, including FedEx.

 

 Silver City Auto Shop

MERIDEN –– Houman Shafei has purchased a 2,800-square-foot building at 111 South Colony Street for $100,000. Frank Hird and Tim McMahon of OR&L Commercial represented the seller, the Record Journal Real Estate Co. The buyer, which will use the space for a car repair and sales business, was unrepresented.

 

 M-Town Industrial Bldg. Sold

MIDDLETOWN –– Precision Devices Inc. has acquired a 27,365-square-foot industrial building with office and showroom space at 299 Industrial Park Road for $1,110,000. Jay Morris, Richard Gold and Frank Hird of OR&L Commercial represented the buyer, while Morris represented the seller, DocuSource.

 

 N.H. Apts. Fetch $5.4M

NEW HAVEN –– A New York investor has purchased a 98-unit apartment portfolio for $5.4 million ($55,102 per unit). The sale included 43 garden-style units at 320 Quinnipiac Avenue, 20 garden-style units at 171-185 Quinnipiac Avenue, five units at 17-19 Judith Terrace, eight garden-style units at 210 Burwell Street and 22 townhouse-style units at 64 Chamberlain Street. Sandy Strickland of Sky Realty Group at Broder Commercial was the sole broker.

 

 Grand Ave. Apts. Sold

NEW HAVEN –– G&B Realty LLC has purchased a 13-unit apartment complex with two two-bedroom units and 11 one-bedroom units at 83 East Grand Avenue for $595,000. Frank D'Ostilio of Real Living Wareck D'Ostilio was the listing agent. Taylor Realty was the seller. Noah Meyer of Levey Miller Maretz represented the buyer.

 

 No. Haven Bldg. Sold

NORTH HAVEN — Luigi Ferraro has purchased a 9,400-square-foot building at 30 Montowese Avenue for $577,000. Phil Barber of Pearce Commercial Real Estate represented the buyer. Rich Gold and Tim McMahon of OR&L Commercial represented the seller, RSB Associates.

 

 $14M for No. Haven Apts.

NORTH HAVEN –– Briarwood Hills, LLC has acquired Briarwood Hills at 100 State Street, for $14.4 million. Rick Chozick, president of Chozick Realty's Hartford office, advised the seller, US Bancorp, and procured the buyer for the 176-residential unit complex.

 

 Sweet Deal in Seymour

SEYMOUR –– Hendel Investors has purchased the former Shell Gas and Sweets & Eats property on 0.75 acres at 2-4 North Main Street for $950,000. The Proto Group was the sole broker. The seller is North Main & Day, LLC. Hendel will construct a new gas station and convenience store on the property.

 

 NY Investor Buys Shelton Office Bldg.

SHELTON — Rugby Realty of New Rochelle, N.Y. has acquired the Reservoir Corporate Center, 4 Research Drive, for $8.5 million. David Noonan, Jennifer Schwartzman and Paul Gojkovich of Newmark Grubb Knight Frank’s Capital Markets group and Pierre Bonan of Auction.com represented the buyer and seller of the 157,776-square-foot Class A office building on seven acres. Commercial mortgage special servicer LNR Partners, LLC acted for the seller, CSFB 2001-CP4 Research Drive, LLC, and brought in Newmark Grubb Knight Frank to market the site through the auction process. “We worked with LNR Partners through a foreclosure and bankruptcy to execute this sale,” Noonan said.

 

 Brass City Apts. Fetch $17M

WATERBURY –– Country Village Apartments, LLC has bought a 232-unit, HUD-subsidized property on more than 30 acres for $17 million.

The buyer plans to renovate the property at 283 Colonial Avenue using $15 million of Connecticut Housing Finance Authority (CHFA) tax credits. The upgrades include new roofs, windows, flooring, kitchens, appliances and bathrooms as well as landscaping improvements. Steve Pappas of Chozick Realty advised the seller, Fairmount Heights Associates, LP. The buyer assumed several mortgages to buy the complex.

 

 Geenty Does It Again

WESTBROOK –– Solid State Heating Corp. (SSHC) has purchased a 12,359-square-foot light industrial building at 1244 Old Clinton Road for $475,000. Barry Stratton of the Geenty Group, Realtors represented SSHC, which manufactures radiant modular ceiling heating units for residential and commercial applications. Kevin Geenty and Kristin Geenty, SIOR represented the seller, People’s United Bank. The Geenty Group has sold this property four times in the last 35 years.

 

 Staking Out Their Turf

WEST HAVEN –– Hilltop Turf, LLC has bought a 6,000-square-foot industrial and office building at 30 Spring Street for its headquarters. The sale price was $253,000. The seller was Spring Street Industrial Park, LLC. Phil Barber of Pearce Commercial Real Estate was sole broker in the transaction.

 

LEASES

 

 Tech Center Lures Two

BRANFORD –– Two new tenants have leased space at Northeast Technology Center, 35 NE Industrial Road. Wren Laboratories took 4,250 square feet of laboratory and office space; while Service National rented 5,500 square feet of office space.

Seth Hershman of Wareck D’Ostillio Real Living represented Wren Laboratories. Timothy McMahon of OR&L Commercial represented Service National, and also represented the landlord, G+L 35 NE Industrial, LLC, in both leases.

 

 Office Condo Leased

BRANFORD –– F. E. Hall & Co. Inc. has leased a 768-square-foot office unit at 11 Sycamore Way. Bill Clark of the Geenty Group, Realtors represented the landlord, Gray Eagle Corp. Cynthia Nargi of Prudential Connecticut Realty represented the tenant.

 

 Sound Decision in Guilford

GUILFORD –– Sound Benefit Choices/Colonial Life has signed a three-year lease for 1,500 square feet at 163 Cedar Street. The landlord is RCR Enterprises LLC. Joel Galvin of Pearce Commercial Real Estate was sole broker in the deal.

 

 New Aldi for Derby

DERBY –– Discount grocery retailer Aldi will anchor a new 5.3-acre shopping center on Pershing Drive, opposite ShopRite.  Aldi real estate director Bruno Lourenco negotiated a 20-year base term lease deal for 15,800 square feet, which has a ground lease value in excess of $3 million. The Proto Group was the sole broker. The landlord is Pershing Partners, LLC.

 

 Wall Street Occupied

MADISON –– Lifestyle Boutique Robertson Madison, LLC has signed a five-year lease at 69 Wall Street. Frank Hird of OR&L Commercial represented the landlord, Davis Realty. The tenant was unrepresented.

 

 New Tenant Insured

MADISON –– Guardian Life Insurance Co. has leased 3,587 square feet at 1291 Boston Post Road. Richard Guralnick of Pearce Commercial was sole broker in the deal. The landlord is 1291 Boston Post Road, LLC.

 

 Ale’s Well That Ends Well

NORTH HAVEN –– Craft Beer Guild Distributing of Connecticut, LLC and L. Knife & Son Inc. has leased 12,637 square feet of warehouse and office space at 352 Sackett Point Road. Barry Stratton of the Geenty Group, Realtors represented the tenant. Matt O'Hare of CB Richard Ellis represented the landlord, Sackett Point IP Holdings, LLC.

 

 Machine Shop to No. Haven

NORTH HAVEN –– Composite Machining Experts, LLC has signed a five-year lease for 19,246 square feet at 222 Universal Drive. Barry Stratton and Kevin Geenty of the Geenty Group, Realtors represented the tenant and the landlord, Branco Inc.

 

 Med. Equipment Supplier Pans Lease

WALLINGFORD –– Joerns, LLC has leased 3,000 square feet at 65 South Turnpike Road for its medical equipment storage, cleaning, distribution and rental business. The Geenty Group’s Kevin Geenty represented the tenant. Bill Clark, also of the Geenty Group, represented the landlord.

 

 Music to Landlord’s Ears

WOODBRIDGE –– Alexander Music Studios has leased 1,000 square feet at 131 Bradley Road for three years with two three-year options. Marty Ruff of Levey Miller Maretz was the sole broker. The landlord is Richard Wilson.