A Westchester County, N.Y. landlord who six years ago paid $4.8 million for a pair of Middletown medical-office buildings has sold them to one of the nation’s biggest realty trusts for more than double that sum, the parties say.
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A Westchester County, N.Y. landlord who six years ago paid $4.8 million for a pair of Middletown medical-office buildings has sold them to one of the nation's biggest realty trusts for more than double that sum, the parties say.
Seavest Healthcare Properties LLC recently sold the pair totaling 64,065 square feet at 520 and 540 Saybrook Road to Healthcare Trust of America (HTA), a Scottsdale, Ariz., real estate investment trust specializing in buying and operating existing medical-office properties.
HTA said it paid about $11 million for the pair.
Seavest declined to confirm the sale price, but Senior Managing Director Jonathan L. Winer hailed HTA's unsolicited offer for the buildings as validation of its investment model.
“We identified and acquired properties and did the hard work that was necessary to bring them to their full potential,'' Winer said in a statement.
The two buildings are part of a Middletown campus that includes three other medical-office buildings and is affiliated with nearby Middlesex Hospital.
In April, HTA paid Avon medical-facilities developer/landlord Casle Corp. $178 million for a portfolio of medical-office properties, mostly located in Connecticut.
Ex-Lady Fit space
The former Lady Fit exercise studio in Newington's McBride Plaza on the Berlin Turnpike is available for lease, the listing broker says.
The 3,000-square-foot space at 3153 Berlin Turnpike is outfitted with hardwood and mirrored studios, locker room, showers, laundry room, message/reception area and an office, according to Reno Properties Group LLC.
Other tenants in McBride Plaza include Sprint, McBride Carpet, Munson's Chocolates and Karma's Closet.
$1.75M Windsor sale
A pair of Windsor industrial buildings totaling 63,400 square feet have sold for $1.75 million, brokers say.
Ezra Silva Lane LLC purchased 60 Ezra Silva Lane from Clinton Street Associates.
Precision Finishing Services occupies the 33,400-square-foot front building, while All-Crate Inc. occupies the 30,000-square-foot rear building.
Sentry Commercial represented the buyer and CB Richard Ellis/New England represented the seller.
Koma’s Windsor lease
Machine-tool accessory distributor Koma Precision Inc. has leased 5,900 square feet for additional warehousing at 480 Hayden Station Road in Windsor.
Makerspace 480 LLC owns the 48,000-square-foot, multi-tenant industrial facility on 3.57 acres.
Sentry Commercial represented Koma. Colliers International represented the landlord.
PAS Tech’s S. Windsor lease
PAS Technologies Inc. has leased an 8,400-square-foot industrial facility in South Windsor for its aerospace support operations.
PAS will occupy landlord Fred B. Cuda Trustee's space at 41 Commerce Way.
Sentry Commercial represented the landlord. Century 21/Clemens and Sons Realty Inc. represented PAS.
Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com.
Gregory Seay is the Hartford Business Journal News Editor.
