News: Connecticut

NGKF Capital Markets facilitates $8.5 million sale in Shelton: In conjunction with auction.com

NGKF Capital Markets, in conjunction with Auction.com, has closed on the $8.5 million sale of Reservoir Corporate Centre at Four Research Dr., to Rugby Realty, a private firm based in New Rochelle, N.Y. The 157,776 s/f, class A office building is situated on seven acres. David Noonan, Jennifer Schwartzman and Paul Gojkovich from NGKF Capital Markets, with Pierre Bonan of Auction.com, represented both sides in the transaction. Special servicer LNR Partners LLC acted for the seller, CSFB 2001-CP4 Research Drive, LLC, and enlisted the Newmark Grubb Knight Frank team to assist with marketing the site through the auction process. "This is the latest of many transactions for LNR Partners, a long-time client," said Noonan. "We worked with LNR Partners through a foreclosure and bankruptcy to execute this sale." "Rugby Realty, which owns close to five million s/f of commercial property, now has five properties in the Eastern Fairfield County, Connecticut, office market, all within 10 to 15 minutes of each other," said Rugby Realty's managing partner Maurice Ades. "This Class A office building is complementary to our other assets in the market including the Fairfield Metro Center, our one-million s/f, mixed-use development. Though the building shines already, we plan on modernizing the lobby and common areas. It should be at full occupancy very soon."
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary