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Posted: February 27, 2013
2012 marked record year for Saugatuck Commercial Real Estate
2012 was a breakout year for Saugatuck Commercial Real Estate (SCRE) with over $110 million in transaction volume representing nearly 500,000 s/f of commercial space leased and sold.
SCRE emerged in 2012 as a significant player in the investment sales arena while strengthening its position in the leasing space, including representation of retail and office tenants as well as landlords and developers.
Noteworthy investment transactions include representation of Equity One in its $79 million off-market acquisition of three premiere Heyman retail properties in Darien, Westport, and Norwalk. In addition, SCRE represented Acadia Realty Trust in its year-end purchase of Village Square, Main Street, Westport in a transaction valued at $14 million. SCRE also represented investors for transactions closed in Hartford and Monroe.
In 2012 SCRE continued to grow its landlord/developer client base, both geographically and in total number of properties. Clients include REIT's such as Equity One (Enfield, Ridgefield), Kimco (North Haven) and Acadia Realty Trust (Rocky Hill). In addition, SCRE represented properties on behalf of regional and local landlords/developers in Bristol, Cromwell, Waterford, Milford, Wilton, Norwalk, Stamford, Darien, New Canaan, Fairfield and Newtown.
Tenant representation, retail and office leasing also continued to be a very strong platform for the company. SCRE represents a variety of national retail franchise concepts: Robeks, Moe's Southwestern Grill, Peachwave Frozen Yogurt, Hand and Stone, Koko Fitclub, Beltone Hearing, TCBY along with several rapidly expanding corporate retailers: CVS, rue21, Charles Schwab, Monroe Muffler, Pollo Campero and Comcast where SCRE has successfully expanded its coverage throughout New England. SCRE also represented Crius Energy, a newly public company, in its headquarters expansion to 24,000 s/f in downtown Stamford. Additional office transactions brokered by SCRE closed in Fairfield, Shelton and New Canaan. SCRE also represented a Hartford-based hospital for its first lease in Fairfield County and continues to represent the hospital as it grows its presence in the market.
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