CORRECTION: The buyer was misidentified in an earlier version of this story.
The 88-unit Britannia Common apartments in Meriden has drawn a $7.7 million sale that reflects investors’ growing appetites for rental properties, authorities say.
234 Sherman LLC bought the complex at 234 Sherman Ave. from Taymil Britannia LLC, paying an average $87,784 per unit that is among the highest paid in recent months for a rental property.
The original structure, built in 1924, underwent extensive renovation in 1988.
It consists of 58 “flats,” 34 one-, 20 two- and four three-bedroom units.
All tenants have access to an indoor heated swimming pool, secure parking, exercise facility, large common patio and laundry facility.
Marcus & Millichap Real Estate Investment Services was sole broker in the deal.
$1.8M for Naugatuck apts.
Naugatuck’s Trowbridge House Apartments has a new owner who paid $1.84 million for the 42-year-old, 33-unit complex.
Trowbridge LLC bought the property at 38 Highland Ave. from Limerick Properties.
Chozick Realty represented the seller and procured the buyer.
DocuSource’s Rocky Hill move
DocuSource business Solutions LLC put its Middletown quarters on the market at $1.5 million, and has leased 6,350 square feet of office space to downsize to Rocky Hill.
The full-service technology vendor is moving to WinBrook Business Park, 716 Brook St.
It occupies all the space at 299 Industrial Park Road in Middletown, which also is available for triple-net lease at $6.25 a square foot, brokers said.
O,R&L Commercial represented landlord Winstanley Enterprises/WE 716 Brook Street LLC and the tenant.
It also is exclusive leasing agent for the Middletown building.
Wall’ford direct-mail lease
Connecticut Direct Mail Corp. leased a 4,940-square-foot industrial unit at 65 South Turnpike Road in Wallingford.
The unit features both a loading dock and a drive-in door, with 1,200 square feet of air-conditioned office space.
Matthew and Thomas Turlis operate the mail business. The landlord is 65 South Turnpike LLC.
The Geenty Group, Realtors, in Branford, was the sole agent in this transaction.
Vet hospital’s New Haven space
The New Haven Central Hospital for Veterinary Medicine, Inc. has doubled its footprint with the lease of 20,000 square feet at the Crossroads Medical Center in the Elm City.
Central Hospital has been at 158 State St. for nearly 40 years.
Construction of the new hospital is underway, with occupancy set for October 2013.
O,R&L Commercial LLC brokered the lease.
Filley Pond Plaza lease
Master Hwang’s Martial Arts has chosen a 2,300-square-foot storefront in Bloomfield’s Filley Pond Plaza for its fourth personal-safety instruction school to open in September 2013 (Norm-CQ according to release).
The plaza is at 38 Tunxis Road, adjacent to the Bloomfield Town Green.
Bloomfield Equities LLC is the landlord.
Master Hwang’s first school opened in 1967. Other locations are in West Hartford, Stratford and Hamden.
O,R&L Commercial brokered the lease.
North Haven studio-theater
The Jared Andrew Studio for the Performing Arts in Hamden leased 12,000 square feet of warehouse space in North Haven.
The space at 222 Universal Drive will be converted to a theater and dance studio for voice, acting, and dance lessons and musical productions.
The studio has been operating in facilities in Hamden for the past seven years and hopes to relocate to their new theater and training areas in the near future.
The Geenty Group, Realtors, represented landlord Branco Inc. H. Pearce Company represented the tenant.
Deal Watch wants to hear from you. E-mail news of commercial real estate transactions, along with contact information, to: gseay@HartfordBusiness.com.
Greg Seay is the Hartford Business Journal Web Editor.
