Hartford Business Journal

14 Hartford Business Journal • February 27, 2017 www.HartfordBusiness.com Middletown's Wilcox Apts. resold — this time for $7M T he 81-unit Wilcox Apartments com- plex in Middletown has been sold for the second time in five years in a $7 million deal, or $86,420 per unit. Hamilton Point Investments LLC, of Old Lyme, sold the one-, two- and three-bed- room community, a portion of which once housed machinery for making ship fittings, at 305 S. Main St. to New York investor Up Realty, said Hartford broker Chozick Realty. Living units range from flats to lofts to townhouse-style apartments, according to the broker, who said it took just two weeks to generate strong interest in the property and land a buyer. Hamilton Point acquired Wilcox for $5.96 million in Dec. 2012, Hamilton princi- pals Matthew Sharp and David Kelsey said in a statement. The company claims to have sponsored a dozen real estate funds and other invest- ment vehicles that have acquired more than 9,500 apartment units primarily in the east- ern half of the U.S. Wilcox Apartments were built in 1989 within the former Wilcox Crittenden & Co. factory building that dates to 1907. Manchester's Homewood Suites Greenwich hotel operator-developer Star- wood Capital Group is erecting an $11 million extended-stay Homewood Suites by Hilton in the shadow of Manchester's major shopping mall for a planned Nov. 1 opening, officials say. Starwood's TMI Development unit is building the four-story, 105-room hotel on Pavilions Drive, near The Shoppes at Buck- land Hills. Another Starwood entity, TMI Hospitality, is the actual franchisee and will operate the Homewood Suites, officials said. The lodge will employ about 30 when it opens. Designed for stays of five nights or more, the Homewood Suites concept features stu- dio, one- and two- bedroom suites with fully equipped kitchens and separate living and sleeping areas. The pet-friendly hotel will also include an indoor heated pool, fitness room, onsite laundry and a meeting room. TMI Hospitality operates nearly 200 lodging properties in 26 states, including Marriott, Hilton, IHG, Choice Hotels, Hyatt, Carlson and Best Western. TMI's other Connecticut property is the Fairfield Inn & Suites by Marriott. Newington med-office space More than 6,000 square feet of office space is for lease in a Newington medical- office campus, brokers say. The three-building, 40,000-square-foot campus is at 505 Willard Ave., according to listing broker Reno Properties Group LLC. In one building, a 4,500-square-foot suite is available; 1,180 square feet is available in a second, Reno said. Rent is $18 a square foot. Existing tenants include ProHealth Physicians, Hartford Eye Surgery Center, Newington Pediat- rics and Connecticut Foot Care Center. Universal Package's Storrs space Groton retailer Universal Package Store has leased retail space directly across from UConn's main campus for selling wine, beer and spirits. The 1,850-square-foot store at 1244 Storrs Road in Mansfield's Storrs section is Univer- sal's third location in eastern Connecticut, according to exclusive broker Lyman Real Estate. Two others are in the Noank and downtown Mystic sections of Groton. Storrs Associates LLC is landlord. Southington price cut A pair of Southington land parcels zoned for industrial use are for sale at a reduced price of $59,500 each, brokers say. There is a 0.56-acre parcel, with 158 feet of frontage, at 30 Industrial Drive. The other is 0.66 acres next door, at 40 Industrial Drive, accord- ing to listing broker Sentry Commercial. n Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com. Gregory Seay DEAL WATCH Wilcox Apartments, 305 S. Main St., Middletown. P H O T O S | C O N T R I B U T E D 1244 Storrs Road, Mansfield.

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