NewHavenBIZ

26 n e w h a v e n B I Z | A u g u s t 2 0 2 2 | n e w h a v e n b i z . c o m W h a t ' s T h e D e a l ? By Greg Bordonaro A 130-unit apartment complex in North Haven has sold for $17.8 million, property records show. e 104,904-square-foot Whitewood Pond Apartments at 392 State St., sold in May, property records show. e buyers were Shlomo Katz and Shloime Rosenberg, who share a Lake- wood, New Jersey business address. e two real estate investors have been active buyers in Connecticut, having purchased major apartment proper- ties in the last year in New Haven and Hartford. e seller was 392 State Street Realty LLC, whose principal is not identified in state records. e LLC lists a South Windsor business address at 475 Buck- land St., state records show. e three-story property was built in 1972 and sits on 9.72 acres, property records show. e property contains all one-bedroom apartments that range from 700 square feet to 900 square feet, according to CoStar. Shelton manufacturing property sells for $8.1M A 213,096-square-foot Shelton man- ufacturing property has sold for $8.1 million, property records show. e property at 510 River Road is home to mattress maker Talalay Global, which filed for bankruptcy in 2019. e seller was CKB LLC, which is controlled by John Coffey, the son of Talalay founder Bill Coffey. e buyer was 510 River Road LLC, which is controlled by Mark and Christopher Devli, who list a Walling- ton, New Jersey business address, state records show. ey are the principals of the Devli Group, a real estate invest- ment, development and management company with assets in industrial, retail, multifamily, office, mixed-use properties and hotels, according to their website. As part of the deal the buyers took out a $6.1 million mortgage from California-based East West Bank, land records show. e property has two separate buildings, according to city records. In addition to the main manufacturing property, there is also a 9,600-square- foot warehouse on-site. e entire property sits on 14.36 acres, records show. e main building was built in 1957. Milford manufacturing property sells for $2.7M A Milford manufacturing building has sold for $2.7 million, property records show. e 28,385-square-foot property at 45 Woodmont Road sold in June. e buyer was 45 Woodmont LLC, whose principal is not listed in state records. e seller was Franbard Milford LLC, which is controlled by Peter J. Francini, who lists a Shelton business address. Practical Automation, a manufactur- er of kiosk and ticket printer machines, is the building's tenant, records show. e building was erected in 1963 and sits on 6.6 acres, records show. Three Greater New Haven multifamily properties sell for combined $48.9M A three-property multifamily port- folio totaling 234 residential units in Greater New Haven recently sold for $48.9 million. Institutional Property Advisors (IPA), a division of Marcus & Milli- chap, handled the transaction. e properties include one building in New Haven and two complexes in Hamden. Victor Nolletti, IPA executive man- aging director, said New Haven has become "one of the most sought-aer Northeast cities to live in." "With a tight housing market, it will continue to experience rent growth as demand outstrips supply," Nolletti said. "All three properties are 100% mar- ket-rate multifamily assets with stable in-place cash flow." One of the properties included in the deal was the Liberty Building, at 152 Temple St., New Haven. It has 123 units and was converted into an apartment building in 1999. e third property was the 46-unit Dogwood Hill Apartments in Hamden, which was built in 1975. Freight company buys tract with two buildings in Orange A 6.5-acre parcel in Orange with two buildings totaling 26,000 square feet sold recently for $3 million. Milford-based Carlson Road Limit- ed Partnership sold the property at 62 Carlson Road, to ABF Freight System Inc. e buyer is a short- and long- haul transportation service company headquartered in Fort Smith, Arkansas. e company provides shipment and logistics services throughout North America. According to town records, the buildings were constructed in 1960. e property is in a light industrial zone. Carl G. Russell, senior commercial broker with Pearce Real Estate in North Haven, represented the seller. e co-broker was Laurence P. Casey of Cushman & Wakefield in Iselin, New Jersey. Winchester Works launching pre-built lab spaces More lab space is slated to come online later this year to help meet the high level of demand from the region's growing life sciences sector. Winchester Office LLC, a joint ven- ture of LMXD, Twining Properties and the Goldman Sachs Urban Investment Group, announced plans to lease three new, ready-to-use lab and office suites at 115 Munson St., New Haven, in Science Park. Each of the three suites will be about 5,000 square feet in size, and the devel- opers anticipate the space will be ready for occupancy by late 2022. Winchester Works, at 115 Munson, is home to companies such as Halda erapeutics. It is a first stage of a larger plan to transform the former Winchester Re- peating Arms Co. factory site into a mix of apartments, retail, office, laboratory and open space. e hope is that the new suites will appeal to biotech firms looking for "move-in ready" space in New Haven. JLL will handle leasing of the new North Haven apartments sell for $17.8M A rendering of three new, ready-to-use lab and office suites planned at 115 Munson St. RENDERING | SVIGALS + PARTNERS. 62 Carlson Road, Orange. PHOTO | CONTRIBUTED PHOTO | COSTAR The Whitewood Pond Apartments in North Haven. The Liberty Building in New Haven. PHOTO | COSTAR

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