CW Commercial Brokers Sale of Calcagni Real Estate Building and SCSU Student Housing Deal
Ralph Lewis Sells Student Housing Deal for Second Time
CHESHIRE, Conn. (PRWEB) July 25, 2018
Last week, Ralph Lewis of CW Commercial Real Estate represented both sides of the off-market sale of 330 South Main Street in Cheshire, one of Calcagni Real Estate’s four local offices. The building was sold by CW Cheshire Holdings, LLC of Cheshire and was purchased by Developer’s Consolidated Realty, LLC of Pleasantville, New York for a price of $1.375 million. The transaction was a sale-leaseback, with Calcagni Real Estate divesting itself of the building in favor of a long-term lease with the new owner. Strategically, this transition enables Calcagni to undertake more projects, especially in the new homes market.
This week, Ralph Lewis of CW Commercial Real Estate represented both sides of the off-market sale of 190 Pine Rock Avenue in Hamden, Connecticut for a purchase price of $8.37 million. Adjacent to the Southern Connecticut State University campus, the 30-unit, 120-bed complex was sold by One Hundred Ninety Pine Rock Avenue, LLC and purchased by 1160 Silas Deane Company, LLC.
This transaction marks the second sale of this property by Lewis, who represented both buyer and seller in August of 2015 when it traded for $7.6 million. This transaction also marks over $100 million total in commercial sales by Lewis since 2013, in addition to over 175,000 square feet rented to significant office and big box retailer tenants in that same five-year span.
Lewis is actively seeking new sellers, buyers, and off-market properties and welcomes inquiries and opportunities from brokers and clients alike.