Cordido of HK Group completes $1.645 million office building sale

Westport, CT – September 04, 2019: HK Group is pleased to announce that Ricardo E. Cordido, CCIM, Vice President of HK Group completed the $1.645 million sale of the office building located at 278 Post Road East in Westport CT.

 The four-story building, comprised of 5,000 +/- SF is situated on a .57-acre lot that was fully renovated in 2005 and offers four floors of rentable space, plus a full basement. Each floor offers an open floor plan allowing for flexible uses. The property is within a short walking distance to downtown Westport shops, restaurants, banks and town amenities.

 The property represented a unique opportunity to acquire a modern, high- visibility, freestanding premier property located in the heart of the Post Road East (US-1) in Westport, one of the most desirable communities in the United States.

 The seller, represented by HK Group was Westport 278 Realty Group LLC and the buyer, represented by William Raveis, is a local accounting firm.

 Matthew Keefe, President, and Franco Fellah, Executive VP at HK Group announce the sale of the Westfair Shopping Center, 1759 Post Road East, Westport, CT.

Westport, CT – September 3, 2019 - The two-building, 16,000 SF +/- shopping center was built in 1950 and sits on 1.1 acres of land zoned General Business District.

 The center is a staple of the local community with tenants that have been there for the long term, including Cooper’s Auto Parts, 35+ years at Westfair, as well as Westfair Fish & Chips, the UPS Store and Westfair Shoe Repair.

 The seller was KB Westfair, LLC and the buyer was Westfair Real Estate, LLC, an affiliate of John A. Nelson and Paragon Realty Group, LLC of Westport, CT.

 The price was $4,350,000: HK Group was the only broker involved in the transaction.

HK Group announces Stamford software company to move to Fairfield

CT Post - Fairfield, CT. Stamford-based Q88 LLC is moving to Fairfield.

The software provider is moving its Connecticut headquarters from Stamford to 1501 Kings Highway East.

Q88 signed a long-term, multiyear lease for a 7,800-square-foot building near the Fairfield Metro Station, doubling its space in the process.

“The reason we are moving is to meet our future goals of expansion,” said a Q88 spokesperson. The company declined to comment any further on the transaction.

Q88 has been around since 2001, offering software solutions to clients in the global shipping industry. The company also has offices in London, Athens and Singapore, and caters to a client base of more than 11,000 users and 10,000 vessels.

According to a news release from Westport-based brokerage HK Group, the company chose the building due to its immediate proximity to public transit and its look.

“The building is fully reconstructed with the modern industrial look that many companies — modern and young companies — are looking for,” said Franco Fellah, executive vice president at HK Group, which represented landlord Powerscourt Westover LLC during the transaction.

Q88 will occupy the entire building.

Powerscourt bought the building in 2017 for $765,000 and renovated it. At the time, it was a 3,800-square-foot blighted building near the train station. Tom McLaughlin, owner of Powerscourt, transformed the vacant brick structure into a two-story modern, glass office building, about double the size of the original building.

The commercial real estate company owns the building at 1525 Kings Highway East and had been leasing the site next door since 2011 to use its 28-space parking lot.

Q88 is projected to move sometime during this summer; town officials said they are looking forward to the addition to the commercial base.

“We’re pleased anytime a new business moves into Fairfield,” said Mark Barnhart, director of economic development. “We’re certainly happy that Q88 stayed within Fairfield County and the region instead of moving out of state. We understand this is a competitive marketplace and we’re excited to have them apart of the Fairfield business community.”

Q88’s new headquarters is located in an area that has seen ongoing activity and interest from developers over the past couple years with the introduction of the Fairfield Trademark Apartments and more.

The second phase of the Fairfield Trademark construction has already begun even closer to the train station and is expected to bring a trove of apartments to the town.

“It’s really an emerging area and a very active local market,” Barnhart said.

 
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HK Group announced the lease of 8,554 s/f at 145 Main Street, Norwalk

Real Estate Weekly - Norwalk, CT. HK Group announced the lease of 8,554 s/f at 145 Main Street, Norwalk. Franco Fellah and Ricardo E. Cordido of HK Group represented owner, Seligson Properties. MRI Premium Distribution Services, a source of residential, security, commercial and mobile consumer electronics leased the flex warehouse space. the company has locations in Plainville, CT, Colonie, NY, Woburn, MA and now Norwalk, CT. Customers can order online, pick-up from any of the four fully stocked warehouses or take advantage of MRI’s own same day delivery service.

 
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Keefe and Cordido of HK Group broker $136.5 million sale of Town Walk at Hamden Hills

NEREJ - Hamden, CT. According to HK Group, Matthew Keefe, President, and Ricardo Cordido, CCIM, Vice President, were the sole brokers in the sale of Town Walk at Hamden Hills for a sale price of $136.5 million. Jones Street Investment Partners, a Boston-based multifamily investment sponsor and operator, acquired the property from an affiliate of Baker Properties, a White Plains, NY real estate developer and operator.

Town Walk at Hamden Hills is an apartment community comprised of 764 garden-style apartment homes on a 44.9 acre site located at 100 Town Walk Dr. Originally built by AvalonBay Communities in the early 1990s, it offers a variety of floor plans, onsite amenities and a suburban setting located six miles from New Haven’s CBD and Yale University.

The location is appealing to renters looking for convenient access to shopping, schools, services and employment. Town Walk at Hamden Hills is the premier residential asset in the submarket.

 
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Fellah of HK Group completes $1.325 million medical building sale

NEREJ - Westport, CT. Franco Fellah, executive vice president at HK Group, completed the $1.325 million sale of the medical building located at 20 Bay St.

The property is located next to the police station and the Westport Library, and is surrounded by municipal parking. 20 Bay St. has been the home of Bay Street Pediatrics, Dr. Fern Pearlman’s office, for more than 30 years, and a medical building for the last 50 years.

The two-story building has 3,473 s/f of space on a 0.14 acre lot zoned restricted professional office district. It was originally built in 1923 and was renovated several times.

HK Group is a full service commercial real estate firm started in 1988. It has grown steadily from a local Westport business to one which today encompasses an operating area of New York, Connecticut and New Jersey. The firm follows client led transactions into other states. It has expanded its vision from local leasing to larger and more sophisticated leasing transactions, investment sales transactions, national client retail leasing, and consulting and brokerage services for the health care and hospitality industries.

 
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Lindland, Fellah and Keefe of HK Group complete $3.25m sale

NEREJ – Westport, CT. A team of three brokers, David Lindland, Franco Fellah and Matthew Keefe, has completed the sale of the 201 Main St. property for $3.25 million. HK Group  was the only broker involved in the transaction.

The seller was the estate of Anna Nappa.  According to ownership, they purchased the property around 1964: at different points in time it was the home of Violet Antiques and Alfred Heckman Distributors.  Eventually was occupied from 1971 and up to about two years ago, by Nappa Sales, doing general glass and screen repairs, selling windows, doors and glass.

The property contains 13 residential units and a retail store.  The new owner, Belden Place, LLC has plans to redevelop the property with 14 apartments and a retail store.  Three of the apartments will be classified as affordable.

The property features three separate buildings totaling 10,050 s/f, on 0.39 acre zoned restricted business district.

 
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Deal & Dealmakers – Real Estate Weekly

Real Estate Weekly. Franco Fellah, Executive Vice President at HK Group, announced the following leases:

• Shoe Inn, a retailer that sells upscale women shoes and accessories, leased 1,200 s/f of retail space with a full lower level at 36 Elm Street, New Caanan.

• Coastal Connecticut Counseling, a therapy support center for individuals, couples, children and families leased 3,342 s/f of office at 2960 Post Road in Southport, CT.

• Waterman-Hurst, a senior executive consulting and advisory firm leased 2,170 SF of Class A office space at 40 Danbury Road Wilton, CT.

• Bird, Bonette, Stauderman, Inc., advertising production consultants, leased 2,500 s/f of direct waterfront office at 49 Riverside Avenue Westport, CT.

• JoyRide Cycling Studio, extended their 4,207 s/f lease in Darien. They have three additional locations in Westport, Wilton and Ridgefield.

Real Estate Weekly – Deals & Dealmakers

Real Estate Weekly. Franco Fellah, Executive Vice President at HK Group, announced the following leases:

Shoe Inn, a retailer that sells upscale women shoes and accessories, leased 1,200 SF of retail space with a full lower level on New Canaan’s main drag at 36 Elm Street.     Shoe Inn already has eight locations in Westport CT, East Hampton NY, Livingston NJ, Englewood NJ, West Hampton Beach NY, Rye Brook NY, Ridgewood NJ and Scarsdale NY

Coastal Connecticut Counseling, a therapy support center for individuals, couples, children and families leased 3,342 SF of office at 2960 Post Road in Southport, CT.

Waterman- Hurst, a senior executive consulting and advisory firm leased 2,170 SF of Class A office space at 40 Danbury Road Wilton, CT.  Bird, Bonette, Stauderman, Inc., advertising production consultants, leased 2,500 SF of direct waterfront office at 49 Riverside Avenue Westport, CT.  JoyRide Cycling Studio, extended their 4,207 SF lease in Darien. They have three additional locations in Westport, Wilton and Ridgefield.

Fellah of HK Group announces multiple lease deals

Real Estate Weekly. Franco Fellah, Executive Vice President at HK Group, announced the following leases:

Shoe Inn, a retailer that sells upscale women shoes and accessories, leased 1,200 SF of retail space with a full lower level on New Canaan’s main drag at 36 Elm Street. Shoe Inn already has eight locations in Westport CT, East Hampton NY, Livingston NJ, Englewood NJ, West Hampton Beach NY, Rye Brook NY, Ridgewood NJ and Scarsdale NY.

Coastal Connecticut Counseling, a therapy support center for individuals, couples, children and families leased 3,342 SF of office at 2960 Post Road in Southport, CT.

Waterman- Hurst, a senior executive consulting and advisory firm leased 2,170 SF of Class A office space at 40 Danbury Road Wilton, CT.

Bird, Bonette, Stauderman, Inc., advertising production consultants, leased 2,500 SF of direct waterfront office at 49 Riverside Avenue Westport, CT.

JoyRide Cycling Studio, extended their 4,207 SF lease in Darien. They have three additional locations in Westport, Wilton and Ridgefield.

 
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Fellah of HK Group finalizes $1.835 million in sales and 6,637 s/f in leases

NEREJ - Westport, CT. Franco Fellah, Executive Vice President at HK Group has finalized the following deals:

• Sale of the 2 Riverside Ave. -  The 1,470 s/f high visibility retail building sold for $895,000 or $609 per s/f: it is located on 0.1 acre zoned – Restricted Office and Retail District 1 (RORD1). The last tenant occupying the property was the Westport Aquarium. The seller was Paul Carpenter and the buyer is a Westport resident. The buyer has not announced yet what she intends to do with the building.

• Sale of 198-200 East Ave., Norwalk land for development project – the 0.532 acre land had three residential units in place and the capacity to add 10 to 11 additional units. The sale price was $940,000. The seller was 198-200 East Avenue Development LLC and the buyer was Dimitrios Dimitroglou. The property is zoned NB - Neighborhood Business.

• Westport Clinical Associates, LLC leased 4,637 s/f of office space at 246 Post Road East, Westport. The previous tenant in the space was Newman’s Own, Inc. who moved out after they purchased a building at 1 Morningside Drive North.

• Eyeglasses.com renewed their 2,000 s/f retail lease at 147 Post Road East in Westport. They have been at this downtown location for five years and have another location at Blue Back Square Shopping Center in West Hartford.

Former Westport Aquarium Property Sold

The Commercial Record — Westport, CT. The former home of the Westport Aquarium has been sold for $895,000.

Several properties in Westport, and one in Norwalk, were recently sold. Franco Fellah, executive vice president at HK Group, finalized the sale of 2 Riverside Ave. in Westport. The 1,470 square-foot retail building is on 0.1 acres of land zoned RORD1, restricted office and retail district 1. The seller was Paul Carpenter and the buyer is a Westport resident. The buyer has not announced yet what she intends to do with the building.

Fellah has also finalized the sale of 198-200 East Ave. in Norwalk for a development project. The half-acre lot has three residential units in place with capacity to add up to 11 additional units. The sale price was $940,000. The seller was 198-200 East Avenue Development LLC and the buyer was Dimitrios Dimitroglou. The property is zoned NB, neighborhood business.

Finally, Westport Clinical Assoc. LLC leased 4,637 square feet of office space at 246 Post Road in East Westport. The previous tenant in the space was Newman’s Own Inc., which moved out after it purchased a building at 1 Morningside Drive North in Westport.

Fellah of HK Group announces Westport and Norwalk Deals

Real Estate Weekly. Franco Fellah, Executive Vice President at HK Group, finalized the following deals:

Sale of the 2 Riverside Avenue Westport property – The 1,470 SF high visibility retail building sold for $895,000 or about $609 per SF: it is located on 0.1 acres of land zoned RORD1 – Restricted Office and Retail District 1. The last tenant occupying the property was the Westport Aquarium. The seller was Paul Carpenter and the buyer is a Westport resident. The buyer has not announced yet what she intends to do with the building.

Sale of 198-200 East Avenue Norwalk land for development project – the 0.532 Acre land had three residential units in place and the capacity to add 10 to 11 additional units. The sale price was $940,000. The seller was 198-200 East Avenue Development. LLC and the buyer was Dimitrios Dimitroglou. The property is zoned NB- Neighborhood Business.

Westport Clinical Associates, LLC leased 4,637 SF of office space at 246 Post Road East Westport: the previous tenant in the space was Newman’s Own, Inc. who moved out after they purchased a building at 1 Morningside Drive North in Westport.

Eyeglasses.com renewed their 2,000 SF retail lease at 147 Post Road East in Westport. They have been at this downtown location for five years and have another location at Blue Back Square Shopping Center in West Hartford.

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