Northeast Real Estate Business

JAN-FEB 2016

Northeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Northeast United States.

Issue link: https://northeastrealestatebusiness.epubxp.com/i/632700

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8 • January/February 2016 • Northeast Real Estate Business www.REBusinessOnline.com C O N N E C T I C U T & R H O D E I S L A N D BASS PRO SHOPS OPENS FIRST CONNECTICUT LOCATION BRIDGEPORT, CONN. — Bass Pro Shops has opened its frst Connecticut location at Steelpointe Harbor, a 2 mil- lion-square-foot mixed-use property in Bridgeport. The 150,000-square-foot store features Uncle Buck's Fish Bowl and Grill restaurant; Black Widow Billiards parlor with two tournament pool tables; a 12-lane bowling alley; an archery range; and an aquarium. Steelpointe Harbor, a 50-acre, $750 million project, is being developed by Bridgeport Landing Development, a subsidiary of The RCI Group. COLLIERS ARRANGES $2.3 MILLION SALE OF INDUSTRIAL FACILITY ROCKY HILL, CONN. — Colliers In- ternational has brokered the sale of an industrial facility located at 51 Be- lamose Ave. in Rocky Hill. MF Dis- cala & Co. acquired the property from Fifty One Belamose LLC for $2.3 mil- lion. The 35,000-square-foot property is fully occupied and will provide a long-term cash fow for the new own- er. Nicholas Morizio and Ian Hunt of Colliers represented the seller and buyer in the transaction. FISCHER REAL ESTATE ARRANGES $2.6 MILLION SALE OF 14.4-ACRE LAND PARCEL MILFORD, CONN. — A New York- based manufacturing company has acquired a 14.4-acre land parcel at 539 Oronoque Road in Milford. Ar- row Realty LLC sold the property for $2.6 million. The buyer plans to renovate and add on to an existing 23,250-square-foot building and con- struct at least two industrial buildings to accommodate its growing business. Alan Fischer of Fischer Real Estate Inc. represented the seller and buyer. O,R&L; COMMERCIAL BROKERS SALE OF 25,777 SF OFFICE BUILDING CHESHIRE, CONN. — O,R&L; Com- mercial LLC has brokered the sale of an offce building located at 1154 High- land Ave. in Cheshire. Marshall Enter- prises LLC sold the 25,777-square-foot Class A offce building to RPG Hold- ings LLC for an undisclosed price. The new owners plan to convert the frst foor of the building into a medical of- fce space for a future urgent care facil- ity. Richard Guralnick of O,R&L; repre- sented the seller, while Dan Garofalo and John Mullin of Reno Properties represented the buyer. COLLIERS BROKERS $2.6 MILLION LEASE OF INDUSTRIAL BUILDING ENFIELD, CONN. — Colliers Inter- national has brokered the long-term lease of 102,000 square feet of indus- trial space at Enfeld Distribution Center, located at 35 Manning Road in Enfeld. Namco will occupy the space in the $2.6 million transaction. Nicho- las Morizio of Colliers represented the undisclosed landlord, while Tim Mc- Namara of SullivanHayes represented the tenant in the lease transaction. DRUBNER COMMERCIAL NEGOTIATES $2 MILLION RETAIL PROPERTY SALE WATERBURY, CONN. — Drubner Commercial Real Estate Services has arranged the sale of a retail property located at 1262 W. Main St. in Water- bury. The Lauren Investment Group of Monroe, N.Y., purchased the property for $2 million. David Theroux of Drub- ner Commercial, along with Property West LLC, developed the site in 2007. The property is currently leased to TD Bank for the foreseeable future. Ther- oux handled both the sale and lease transactions. PRESS/CUOZZO NEGOTIATES $1.1 MILLION SALE OF INDUSTRIAL BUILDING MERIDEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of an industrial building lo- cated at 170 Pond View Drive within Medway Business Park in Meriden. Aperture Optical Sciences acquired the 23,000-square-foot property for $1.1 million. Constructed in 1985, the property features 18,000 square feet of high-bay industrial space and 5,000 square feet of offce and sales support space. Stephen Press and Ted Schaffer of Press/Cuozzo represented the un- disclosed seller, while Kyle Roberts of CBRE/New England represented the buyer in the transaction. LINCHRIS HOTEL CORP. ACQUIRES HOTEL IN RHODE ISLAND PROVIDENCE, R.I. — Hanover, Mass.-based Linchris Hotel Corp. has acquired Hotel Providence, an 80- room boutique hotel in Providence, for an undisclosed price. Located at 139 Mathewson St., the hotel was orig- inally built in 1882 and is listed on the National Register for Historic Places. The new ownership is repositioning the hotel's 96-seat restaurant as res- taurateurs Alethia and Massimiliano Mariotta transform the restaurant into a chef-drive European brasserie concept. A recipient of AAA's Four Diamond Award for 10 consecutive years, the hotel features more than 5,000 square feet of meeting and event space, including a tented rooftop and courtyard. IPA ARRANGES $17.1 MILLION SALE OF MULTIFAMILY COMMUNITY BLOOMFIELD, CONN. — Institution- al Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Mallory Ridge Apartments, a multifamily community in Bloom- feld. The 78-unit apartment prop- erty sold for $17.1 million, or more than $220,000 per unit. Situated on 19.8 acres at 95 Filley St., the prop- erty features four three-story residen- tial buildings with 20 one-bedroom apartments, 55 two-bedroom units and three three-bedroom apartments plus one clubhouse/amenity build- ing. Each apartment features nine-foot ceilings, full-size washers/dryers and either a patio with private entry or bal- cony. Community amenities include a resort-style pool, a ftness center and a nature preserve with walking paths. Victor Nolletti, Steve Witten, Still Hunter, Eric Pentore, Craig Fuller, Erin Patton, Scott Wiles and Josephine Zupan of IPA represented the seller, Mallory Ridge Apartments LLC, while IPA Northeast-Florida procured the buyer, Delaware-based 1881 and Fawn Industrial LLC.

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