825-923 Houston Northcutt Blvd., Mount Pleasant, S.C.
Mike Riccio, senior director of CBRE | Melody’s Hartford office has arranged $10.8 million fixed-rate financing for Patriot’s Plaza located at 825-923 Houston Northcutt Blvd. in Mount Pleasant, S.C. New York Life Investment Management provided the financing. Riccio, in conjunction with Hal Kempson from CBRE | Melody’s Charlotte office were retained to secure the loan on behalf of Hart Realty Advisers Inc., a Hartford-based pension fund adviser. This is the second deal between Melody and Hart Realty Advisers which acquired the property for a leading state pension fund.
Patriot’s Plaza is positioned in affluent Mount Pleasant on South Carolina’s central coast, just east of downtown Charleston. The property is currently 98 percent leased and anchored by Whole Foods Market and Staples, as well as other strong and diverse tenants. Ideally surrounded by dense housing, strong demographics and located just off of U.S. Highway 17 and Houston Northcutt Boulevard, the shopping center has excellent visibility and access.
H. Pearce Brokers Two
North Haven-based H. Pearce Commercial Real Estate recently announced two deals.
Joel Galvin of H. Pearce Commercial has leased 1,823 square feet at 1000 Village Walk in Guilford. The landlord, Village Walk LLC, was represented by Brooks Properties. The intended use of the space is a business which accepts goods from its customers to be sold on ebay by WD Enterprises for a fee. The planned opening of the business is August 1, 2006.
QDx Inc., a medical research and development firm has signed a long-term lease for 4,100 square feet of new space at 758 East Main St. in Branford.
Fred Petrella of CT Realty Group represented the owner, Massey Properties LLC and Rich Guralnick, of H. Pearce Commercial represented QDx Inc. in the transaction.
H. Pearce Commercial Real Estate specializes in Connecticut’s central, south-central and shoreline markets, with offices in North Haven and Rocky Hill.
UNH Fellowship Announced
The Connecticut Business & Industry Association recently announced a summer undergraduate research fellowship program with the University of New Haven. The fellowships will give UNH students the opportunity to conduct research and learn the skills necessary for a successful career in the bioscience or biomedical fields.
“The University of New Haven prides itself on providing real-world experiences for our students as part of their academic training,” said Dr. Michael J. Saliby, chairman, University of New Haven chemistry and chemical engineering department. “These fellowships will allow our students to carry out novel investigations in the areas of organic synthesis, analytical methods and computational chemistry, and to thus be better prepared for careers in the pharmaceutical and chemical industries.”
Not the Same Stuff Sold
Not the Same Stuff, one of the oldest food wholesalers in the state located in North Haven, has been sold by Charles Bohrer of Norwalk to Chris Garzino of New Jersey. This 25-year-old business will be relocated to New Jersey after August. Garzino has been in the food business for many years. Harold Kent of Levey Miller Maretz was the listing and selling agent.
