Cronheim Mortgage has arranged $13 million in leasehold mortgage financing to facilitate the acquisition of 8-10 Wright St., an 84,000 s/f, class A office building in the heart of downtown. The financing was arranged for a 10-year term with a 25-year amortization and has a rate reset at the end of the seventh yearHamden, CT
Stephen Press, SIOR, of Press|Cuozzo Commercial Services, has completed the sale of 335 Putnam Ave., a 46,500 s/f industrial building on 3.45 acres. The building had been converted to a call center in 1999 and operated in that capacity for many years, most recently by Frontier Communications.Norwalk, CT
Spinnaker Real Estate Partners has appointed Barry White to the new position of vice president of construction. Based in the New Haven Spinnaker office, White will lead the overall execution, budget, schedule and quality control from pre-construction to completion and close-out of primarily residential and mixed-used projects throughout the state.Hartford, CT
Hartford Habitat for Humanity has been selected as the Affordable Housing–Single-Family Detached category grand prize winner in the U.S. Department of Energy’s 2020 Housing Innovation Award Competition. The grand prize award was given in recognition for the work completed on Hartford Habitat’s Roosevelt St. home, which was the non-profit’s first Zero Energy Ready Home.Stamford, CT
According to Empire State Realty Trust, Inc., (ESRT) Berkley Insurance Co. (BIC), a subsidiary of W. R. Berkley Corp., has signed a new lease through 2033 for 63,173 s/f at Metro Center. BIC, A+ rated by both Standard & Poors and A.M. Best, will occupy 1.5 floors in ESRT’s suburban 285,258 s/f flagship property, located at I-95’s exit 7, at the Stamford Transportation Center.
Ralph Calabrese and Tony Valenti of R. Calabrese Agency, LLC completed the $1.3 million sale of six acres located at Mitchell St. and Pine St. The purchaser, Bristol Pine Developers, LLC, received approvals from the town to build 126 units of senior market-rate apartments on the site.Milford, CT
According to Barbara Pearce, chair and CEO of Pearce Real Estate, Jack Pritchard has joined as a commercial sales associate. “Jack comes to Pearce Commercial Real Estate with a financial and wealth management approach,” said Pearce. “We look forward to him having a productive and fulfilling career at Pearce.Westport, CT
According to Saugatuck Commercial Real Estate LLC, (SCRE) Laure Aubuchon and Penny Wickey were the exclusive real estate agents in the sale of 10 Bay St. The sale price was not disclosed. The 9,100 s/f fully-leased boutique office building, formerly owned by Leifer Properties, was sold to ACM Realty. This off-market transaction marked the second sale to ACM Realty by SCRE. New London, CT
Thames River Properties LLC completed the installation of a solar photovoltaic (PV) system on the roof of their 75 Crystal Ave. property using Commercial Property Assessed Clean Energy (C-PACE) financing through the Connecticut Green Bank. The 69.9 kilowatt (kw) system will be installed by JD Solar Solutions of Glastonbury. John Johnson, principal of Thames River Properties, said, “Working with Advanced Energy Efficiencies, we created a great clean energy project. Our tenants will benefit almost as much as the owner of the building. Darien, CT
Goedecke & Co., LLC welcomed Rory Shepard, as vice president in their local office. Prior to joining the team at Goedecke, Shepard held the position of director in the capital markets team at both Jones Lang Lasalle, Inc. (JLL), and its predecessor, HFF, Inc., (HFF) in Manhattan. While at JLL/HFF, Shepard was responsible for the origination, execution, and underwriting of structured finance deals across all asset classes for both debt and equity. During his tenure at JLL/HFF, Shepard participated in the closing of over $4.7 billion of debt and equity transactions across the U.S.