220 Elm St., New Canaan
The Westchester/Fairfield office of CB Richard Ellis recently arranged the $7.65 million sale of 220 Elm St. in New Canaan. Ned Burns and Al Mirin of CBRE represented the seller and were responsible for procuring the buyer, Seaboard Properties.
The property is located next to the New Canaan Metro-North train station in the heart of the town’s most active commercial corridor. The Class A facility at 220 Elm St. measures 18,370 square feet and is the newest building in New Canaan. Three tenants currently occupy the property.
“220 Elm St. is a strong investment opportunity due to its strategic location, demand for space in New Canaan and the restriction on sites for new construction in the town,” Mirin said. “The train is steps from the front door, and downtown New Canaan’s dining, shopping, health clubs and other amenities are within walking distance. Interest was high on the building, and Seaboard Properties should have great success.”
Approximately 2,700 square feet of space is currently available at 220 Elm St., with another 9,200 square feet set to become available in the first quarter of next year.
The property is the latest addition to Seaboard Properties’ roster of quality commercial and residential properties in strategic Connecticut locations. The firm also owns Stamford Landing in Stamford, 1281 East Main St. in Stamford, One Dock St. in Stamford, The Biltmore in Stamford, Clocktower Close in Norwalk and Beacon Mill Village in Beacon Falls.
The deal marks the second significant sale Mirin has completed in New Canaan in less than a year. Last November, he represented Robert L. Davis in the sale of three contiguous commercial parcels at 126 Main St., 130 Main St. and 9 Burtis Ave. to Main Street Investors.
Warehouse Space Leased
The Geenty Group, Realtors, recently leased 2,500 square feet of high-ceiling warehouse space at 26 Commerce Drive in North Branford to Jose Calhelha, who plans to use the space for the storage and restoration of specialty antique automobiles.
Kristin Geenty and Kevin Geenty, who were the co-listing agents, also assisted the tenant in his negotiations with the landlord, Artec Machinery Corp. An additional 5,000 square feet with truck loading facilities is available on the property, which is located within two miles of Interstate 95.
Hamden Deals Completed
Hamdem-based Press/Cuozzo Commercial Services recently brokered leases for properties in Hamden.
Press/Cuozzo Senior Advisor Albert Scafati recently handled the leasing of 7,500 square feet on the second floor of Hamden Center II, a Class A office tower at 2321 Whitney Ave. The tenant, Hoffmann Architects, will be relocating to the space and was represented by Lynn Weed of Weed Realty. Scafati, as the exclusive leasing broker for the building, noted that other leases are out for signature and there is approximately 27,000 square feet remaining available. The building offers easy access to Interstate 91 and the Connecticut Parkway and has covered parking for 699 cars.
Additionally, Joel Nesson, a senior commercial advisor at Press/Cuozzo, has brokered the sale of the majority interest of 295-299 Washington Ave. The 16-unit medical/office condominium complex totals 13,500 square feet in two buildings. The sale price was $1 million. Nesson was the sole broker in the transaction, representing the owner, Washington Medical Center, and the buyer, Momaroon LLC.
