VERNON, CT – Construction has begun in Vernon to transform a long-vacant parcel next to a massive apartment complex on Route 83 into a daycare center.
The 1.57-acre parcel sits at 273 Talcottville Road, the local address on Route 83.
Matt Halrpin and Kerry Wood of New England Retail Properties, the brokers in the deal, said the buyer of the property, Chicago-based InSite Real Estate Group, acquired it from the holding company 273 Talcottville Road LLC, which developed the adjacent Trail Run Apartment complex.
The sale price was not disclosed. Vernon Economic Development Director Shaun Gately identified the center as a KinderCare outlet.
A driveway cut is already present at the construction site on the Trail Run access road, which is serviced by a traffic light on Route 83.
A daycare developer has purchased land in Vernon, according to information from the broker involved.
Chicago-based InSite Real Estate Group recently closed on purchasing the 1.57-acre parcel at 273 Talcottville Road, also known as Route 83. The company plans to develop the property into a new daycare facility, according to New England Retail Properties Inc.
Matt Halrpin and Kerry Wood of New England Retail Properties were the exclusive brokers in the sale on behalf of the former property owner 273 Talcottville Road LLC.
Halprin and Wood represented the seller exclusively and obtained the buyer.
The borough of Naugatuck has purchased for $1.1 million the former Bank of America building at 275 Church St.
Naugatuck Mayor N. Warren “Pete” Hess said the use of the newly acquired property will be determined by the Board of Mayor and Burgesses at its next meeting on Oct. 4. The property will likely be used for a a variety of community events, he said.
Hess said that purchasing the property, which includes parking in downtown Naugatuck, allows the borough to “determine the destiny” of the site rather than leave it up to the open market.
Meanwhile, the borough is reviewing responses to an RFP for the sale of the Naugatuck Events Center and plans to finalize an agreement with a buyer soon.
The former Bank of America branch was built in 1975 and consists of [...]
NAUGATUCK, CT — A former Bank of America branch in the downtown area of Naugatuck has sold for $1.1 million.
The property, located at 275 Church Street, was sold to the borough of Naugatuck by New England Retail Properties, Inc., according to a news release provided by the brokerage company.
The former bank branch, constructed in 1975, consisted of a freestanding 5,060-square-foot facility on 1.13 acres in downtown Naugatuck.
New England Retail Properties, Inc. president Matt Halprin and associate Ryan Mendez were the exclusive brokers for the sellers, Spelke Family LLC of Stamford. Mayor Pete Hess handled the negotiations for the borough.
Southport, CT-based Trio Fund 1 CT Portfolio, an investment trust specializing in net lease retail investments, has purchased a package of six Smithland Supply retail locations throughout CT for $10.5 million.
Matt Halprin, president and COO of New England Retail Properties, Inc., represented the sellers, Retail Property One, LLC, Retail Property Two LLC, Retail Property Three LLC, and Retail Property Four LLC. The original owners are based in Guilford, CT and operated the Agway Stores for more than 25 years before their interest in the company in 2016.
The free-standing net leased locations were previously operated as AGWAY Stores and operate as Smithland Supply in Bethel, Manchester, Middlefield, North Branford, North Haven and Southington.