May 7, 2012 | last updated June 4, 2012 12:10 pm
DEAL WATCH

New Haven shopping center sold for $7.5 million

CONTRIBUTED PHOTO
688 East Main St., Branford

Longford Associates of White Plains, N.Y., bought the center at 466-480 Foxon Blvd./Route 80, just northeast of downtown, in the city's Quinnipiac Meadows section.

The seller was Krypac Development LLC, which built it in 2007 as a 49,164-square-foot center on 8.5 acres.

Aldi supermarkets bought a parcel on which it built a grocery store. The 90-percent-occupied center's other tenants include T-Mobile, TD BankNorth and AutoZone.

The sale price works out to $230 a square foot, and includes the assumption and modification of an existing mortgage with Citizens Bank, authorities said.

Northeast Private Client Group represented both the seller and the buyer.

Windham apartment owner completes $5.4 million refi

Windham's Wyndham Park Townhomes has been refinanced with a $5.4 million mortgage from a Boston investment group.

Beech Street Capital LLC provided the Freddie Mac commercial loan for the 104-unit apartment complex. The 10-year, fixed-rate loan has 9 1/2 years of yield maintenance and a 30-year amortization schedule.

Wyndham's owner, Jeffrey Libert, has had title to the property since buying it in 1993. In the past three years, Libert has spent more than $180,000 renovating the complex, and plans to invest an extra $250,000 in improvements this year, authorities said.

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Sentry's Stafford listing

A pair of Stafford Springs industrial properties — one a building, the other land — are being marketed for sales as a package, authorities say.

22 Industrial Park Drive is a 12,000-square-foot industrial building on 3.68 acres. Next door, 20 Industrial Park Drive, is a 4.3-acre site.

Mobilemed Realty Investments LLC is the owner.

Sentry Commercial is listing agent.

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Unipharm's Waterbury space

Unipharm Inc. signed a five-year lease for 47,000 square feet in an industrial building in Waterbury's Captain Neville Industrial Park for its drug- and supplements-production operation opening in July.

Unipharm, which makes over-the-counter pharmaceuticals, vitamins, supplements, and nutritional products, also has a five-year renewal option.

It projects to have 44 full-time employees in its first two years of business, and could have another 40 workers by the time its lease is up, authorities say.

The property at 75 Progress Lane is owned by KFM Progress Lane Realty LLC, which occupies the building's remaining 7,000 square feet.

R. Calabrese Agency LLC represented the landlord and Drubner Commercial LLC handled the tenant in b the lease.

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Branford biotech leases

Branford biotech startup AxioMx Inc. leased 2,735 square feet in the town's Orchard Research Park for a laboratory.

The landlord is Parish Farm Partners LLC. The Geenty Group Realtors brokered the lease.

AxioMx, at 688 East Main St., was started by senior members of Affomix in Branford and Illumina Corp. of San Diego, both involved in genetic research.

Christopher McLeod is AxioMx president.

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Coldwell's new office

The Glastonbury office of Coldwell Banker Residential Brokerage has relocated to 119 Hebron Ave. from 2300 Main St.

About 50 sales associates work from that office serving Glastonbury, Bolton, Columbia, Cromwell, East Hampton, East Hartford, Manchester, Marlborough, Middletown, Portland and Rocky Hill, authorities said.

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New fire station

The $3 million Bloomfield fire station for the Blue Hills Volunteer Fire Department is complete, work overseen by Diversified Project Management Inc.

The new 7,500-square-foot substation at 779 Blue Hills Ave. replaces a demolished smaller station that lacked exhaust fans, had asbestos, an inefficient heating plant, and lacked accommodations for the disabled, authorities said.

Lupachino & Salvatore was general contractors.

Deal Watch wants to hear from you. E-mail it to: gseay@HartfordBusiness.com. Greg Seay is the Hartford Business Journal Web Editor.

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