The developer of Rocky Hill’s first new apartments in two decades has broken ground for its second rental complex in town, with an estimated $26 million development price tag.
New Jersey developer/landlord Continental Properties, owner of the 144-unit Alterra-Rocky Hill apartments, is erecting the 144-unit Montage-Rocky Hill apartments in five, three-story buildings on 12 acres of newly created Sagamore Lane.
Completion is set for fall 2016.
Despite differences in elevation and certain amenities, the design and floorplan of the Montage’s 54 one- and 90 two-bedroom units mirrors much about Alterra at 11 Kensington Lane, which opened in November 2013.
Montage also will have a 2,600-square-foot clubhouse; a putting green; a Bark Park for pets; an organic garden; nature walk with fitness trails; and detached garages, said Continental Properties Managing Partner Steven Fisch.
Montage, too, will offer a Juice Bar Electric Vehicle car-charging station on the premises, same as the one installed at Alterra when it opened in 2013.
Thomas J. Brennan Architects is the designer. Continental Properties serves as its own general contractor, officials said.
First Niagara Bank is the construction lender.
Continental says it acquired the land for Montage in 2014.
• • •
$1M Hamden apt. sale
An 18-unit Hamden apartment complex has sold for $1.07 million, brokers say.
The complex includes four buildings at 63-69 and 75 Fairview Ave., and 154-164 Warner St. The complex comprises 18 units in four buildings.
Press/Cuozzo Commercial Services says it represented seller Tomar Real Estate Associates LLC, and brought buyer Warner-Fairview LLC to the deal table.
• • •
Dentists’ expansion
Newington dentist David Bell has acquired the Berlin Turnpike building housing his The Dental Center LLC practice.
Bell bought the 6,456-square-foot office building at 2304 Berlin Turnpike from Edward Herzig, said seller’s broker Pearce Real Estate’s Rocky Hill office.
Bell, who shares the practice with his son, plans an extensive exterior and interior renovation of the two-story building erected in 1973 to expand the practice, Pearce brokers said.
Reese Commercial represented David Bell.
• • •
Sentry’s E. Hfd. listings
A 14,160-square-foot industrial facility at 672 Tolland St. in East Hartford is on the market, with a $545,000 asking price.
Sentry Commercial has the listing for the building on 0.81 acres, with heavy power, one drive-in door, three dock doors and 6,000 square feet of office space.
Just down the block, at 654 Tolland St., another industrial building with 40,401 square feet, is for sale. Sitting on 1.58 acres, the building has five loading docks and heavy power, suitable for warehouse, manufacturing or sales and service use, Sentry says.
• • •
RadioShack closing 24 CT stores
Electronics retailer RadioShack, which has filed for Ch. 11 bankruptcy, plans to close 24 Connecticut stores — one-third of them in Greater Hartford, it said in a filing late last week.
The Connecticut locations are among 1,784 RadioShack will shutter across the country.
On the list are stores in West Hartford, Avon, Newington, Windsor, Manchester, Tolland, Cheshire and Hamden.
The filing doesn’t state exactly when the stores will close. RadioShack had about 21,000 employees as of last week’s filing.
Greg Seay is the Hartford Business Journal News Editor.
