Commercial real estate notes
Milford flex building changes hands
Investment company 100 Washington Street LLC, has bought the 49,625-square-foot flex building at 100 Washington Street in Milford, from KC Cubed for $3.9 million. Jon Angel, president of Angel Commercial in Fairfield, represented both the seller and purchaser. Built in 2000 as a single-tenant building, it had multiple tenants until recently when Thinklogical, which had occupied half of the building, expanded to absorb the entire space. Thinklogical, which has its headquarters in the building, is a privately owned, global manufacturer of secure, high-performance signal extension and switching systems. The building features a raised-floor computer suite, under-floor radiant heating, humidifiers and high efficiency lighting.
Offices at Greens Farms welcomes three tenants
Three new leases have been executed at The Offices at Greens Farms, 55-57 Greens Farms Road in Westport, a property acquired by the Silverman Group in February 2013. Newly signed tenants include Daversa Partners, an executive search firm, which is leasing 10,000 square feet; Synergy Corporate Technologies, an information technology services and training provider, 5,100 square feet; and Broder & Orland, a divorce and family law firm, 5,000 square feet. These new leases, added to the three new tenant leases and one renewal previously announced in July 2013, brings the total leasing activity at The Offices to 57,283 square feet in less than a year. Cushman & Wakefield is the property’s leasing agent, and its team includes Steve Baker, senior director; Tom O’Leary, senior director; and Adam Klimek, director. Daversa Partners was represented by Penny Wickey, principal of Saugatuck Commercial. Kevin Foley, executive director, and Torey Walsh, director, of Cushman & Wakefield, represented Synergy. Broder & Orland was represented by Ken Edwards, vice president of John Hastings Real Estate.
M&T Bank opens regional office at Merritt 7
M&T Bank has signed a 10-year lease to locate a commercial banking office in Building 501 at Merritt 7 Corporate Park, the six-building, 1.4-million-square-foot Class A office park in Norwalk, leasing 15,500 square feet. Real estate investment management firms Clarion Partners and Marcus Partners, operators of Merritt 7, were represented by JoAnn Brennan-McGrath of Marcus Partners, as well as Tom Pajolek, Ned Burns, Steve Greenbush, and Bob Caruso of CBRE. M&T was represented by Steve Baker of Cushman & Wakefield. The office will provide middle market, business and professional banking, commercial real estate lending, treasury management, leasing services, health care and not-for-profit banking, along with wealth services from M&T’s Wilmington Trust division.
Nuovo Pasta buys Stratford building
Nuovo Pasta Productions of Stratford has expanded its production operation with the purchase of a 38,000-square-foot industrial facility at 1330 Honeyspot Road Extension in Stratford. The purchase price and seller were not disclosed. The company has a production and warehouse facility on Bruce Avenue and had outgrown the building, limiting its expansion capability. Nuovo, started in 1989, has grown into a family of culinary trained associates who produce pasta and sauces. The company ships its products across America and beyond to chefs, restaurateurs and caterers. Dave Gorbach, partner with Colonial Realty in Fairfield was the listing broker. Bruce Wettenstein, partner with Vidal Wettenstein in Westport, represented the purchaser.
SL Green upgrades lighting at office buildings
SL Green Realty is expanding its portfolio LED lighting retrofit program, installing more than 8,000 LED lamps across 10 commercial office properties, including Landmark Square in Stamford, to save $300,000 annually. The lighting is also being installed at SL Green buildings in New York City and Valhalla, N.Y. In 2012, SL Green completed one of the nation’s largest LED lighting retrofits at 22 commercial office properties, totaling more than 7 million square feet. This first phase installed more than 16,000 units, replacing antiquated lighting technologies including incandescent, halogen and fluorescent to save $625,000 annually.