March 12, 2018
Deal Watch

Rocky Hill CVS store sold at $5.5M

66 Cedar St., Newington.
Photos | Contributed
8 Independence Drive, Marlborough.

A 15,000-square-foot CVS pharmacy-retail building in Rocky Hill sold recently for $5.5 million, brokers say.

Broad Street III sold the property at 323 Cromwell Ave. as an IRS Section 1032 tax-deferred exchange to buyer Jordan Realty, according to sole broker Pearce Real Estate.

$7.4M Waterchase refi

The owner of Rocky Hill's Waterchase Center mixed-use development recently refinanced the property with a $7.4 million mortgage from Rhode Island lender Washington Trust.

Woodgreen Rocky Hill LLC owns the 107,654-square-foot retail-office center at 30 Waterchase Drive, built in 1988 and renovated in 2012.

Tenants include Porter & Chester Institute; DaVita HealthCare Partners; Namco Pool, Patio & Game Room Superstore; and Connecticut GI.

Newington's Cedar St. leases

Two tenants have leased professional office space in Newington Center, brokers say.

At 66 Cedar St., Central Connecticut Therapy Services LLC signed for 1,580 square feet; and the Newington Board of Education leased 1,692 square feet to house its human capital development department, according to sole broker Reno Properties Group. G.K.N. Associates is landlord.

66 Cedar St. is a three-story, 27,500-square-foot office building that is also home to a Berkshire Bank branch and the Newington Probate Court.

$325K Marlborough sales

A trio of commercial spaces in Marlborough sold recently for a combined $325,000 to house new or relocated businesses in town, brokers say.

At 8 Independence Drive, buyer SG Mustang LLC purchased Unit A, with 4,288 square feet, and Unit C, with 960 square feet, for $275,000 from seller NRBZ LLC, according to seller's broker Pearce Commercial Real Estate. Gateway Associates represented the seller.

The buyer plans to renovate and upgrade both spaces to accommodate the new home for Marlborough Country Bakery, Pearce said.

Also, Unit D, with 905 square feet, sold for $50,000 to buyer Ashley Meyer, Pearce said.

Keller Williams Greater Hartford represented Meyer, who plans a hair salon at her location.

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