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Northeast

Calare Properties Acquires 103,200 SF Industrial Building in Canton, Massachusetts

CANTON, MASS. — Calare Properties has purchased an industrial property, located at 15-21 University Road in Canton, for an undisclosed price in an off-market transaction. Situated on 17 acres, the 103,200-square-foot property was vacant at the time of sale. The property features 14 loading docks, six drive-in docks, more than 300 parking spaces and flexible floor plans. The name of the seller was not released.

November 21, 2017

HFF Arranges $100M in Financing for Office Park in Norwalk, Connecticut

NORWALK, CONN. — HFF has secured $100 million in financing for Merritt 7, a six-building, 1.4 million-square-foot office park in Norwalk. The borrower is a separate account managed by New York-based Clarion Partners. Riaz Cassum and Lauren O’Neil of HFF arranged the five-year, fixed-rate loan through a correspondent life insurance company. Situated on 22 acres along Norwalk River, Merritt 7 comprises six buildings and features a fitness center, conference centers, car care, two full-service..

November 20, 2017

Greystone Provides $20.1M Refinancing for West Philadelphia Multifamily Complex

PHILADELPHIA — Greystone has provided $20.1 million in Freddie Mac financing for West Village, an apartment community located in West Philadelphia. The three separate Freddie Mac Small Balance Loans feature 10-year terms and interest-only payments for three years with 30-year amortization schedules. West Village features 86 units in a mix of three-, four- and five-bedroom layouts. Community amenities include parking, roof decks for some units and a community courtyard. Jason Yuen of Greystone..

November 20, 2017

Rosewood Realty Negotiates $14.2M Sale of Apartment Building in the Bronx

NEW YORK CITY — Rosewood Realty Group has brokered the sale of a six-story apartment building located at 3971 Gouveneur Ave. in the Kingsbridge Heights neighborhood of the Bronx. Hds Funding Co. sold the property to a private investor for $14.2 million. Built in 1928, the 65,394-square-foot building features 67 units. At the time of sale, 36 of the apartments were vacant. Aaron Jungles of Rosewood represented the seller, while Mike Kerwin and Ben Khakshoor, also of Rosewood, represented the..

November 20, 2017

Up Realty Acquires Three Multifamily Properties in Connecticut for $6.7M

HARTFORD AND NEW BRITAIN, CONN. — Up Realty, a New York-based investment group, has purchased three multifamily properties located in Connecticut in three separate transactions totaling $6.7 million. In the first deal, the buyer acquired Mark Twain Apartments, located at 367-381 Farmington Ave. in Hartford, for $2.6 million, or $40,000 per unit. The property features 65 apartments in a mix of studio, one-, two- and three-bedroom layouts. In the second transaction, Up Realty purchased..

November 20, 2017

Cushman & Wakefield Brokers $6.6M Sale of 98,595 SF Flex Building in Nashua, New Hampshire

NASHUA, N.H. — Cushman & Wakefield has arranged the sale of a flex building located at 472 Amherst St. in Nashua. BSP Cotton Road LLC, an entity related to Brady Sullivan Properties, sold the property to Pinnacle Properties for $6.6 million. Situated on 7.7 acres, the two-building property totals 98,595 square feet and is leased to multiple tenants. Tom Farrelly, Sue Ann Johnson and Denis Dances of Cushman & Wakefield, in collaboration with Charles Panasis, Ben Kelley and James Tobin of Brady..

November 20, 2017

Twinning Properties Breaks Ground on 308-Unit Apartment Property in Cambridge

CAMBRIDGE, MASS. — Twinning Properties has broken ground on Mass+Main, a multifamily property located in Cambridge’s Central Square. The 308,000-square-foot property will feature 308 mixed-income apartments and 17,000 square feet of retail space overlooking Lafayette Square. The project will offer 248 market-rate and 60 affordable apartments in three buildings: a tower, a six-story building with studios and roommate units, and a four-story building designed for families. Designed by CBT..

November 17, 2017

Tritec Real Estate Receives Economic Package for $538M Transit-Oriented Project in Ronkonkoma, New York

RONKONKOMA, N.Y. — The Town of Brookhaven Industrial Development Agency (IDA) has closed on a package of economic benefits for the first phase of Tritec Real Estate Co.’s planned Ronkonkoma hub transit-oriented development project, which is expected to break ground soon. The package was approved unanimously in 2014, but did not close until recently due to the timing of required approvals, including sewer connections, and the acquisition by East Setauket, N.Y.-based Tritec and its partner of..

November 17, 2017

RD Management Sells 118,863 SF Retail Center in Latham, New York

LATHAM, N.Y. — RD Management has completed the disposition of a retail center, situated on 12 acres in Latham. The Lia family acquired the 118,863-square-foot property for an undisclosed price. Formerly anchored by Kmart, the property consists of an unoccupied 96,805-square-foot big-box space, more than 800 parking spaces, an available out lot and a 22,058-square-foot Vent Fitness. RD Management owns 26 properties in New York and more than 150 properties in its national portfolio.

November 17, 2017

CBRE Arranges $61M Sale of 282,656 SF Office Park in Hauppauge, New York

HAUPPAUGE, N.Y. — CBRE has brokered the sale of Hauppauge Office Park, a three-building office complex located between Long Island Expressway and Northern State Parkway in Hauppauge. Colin Development sold the property to Signature Associates for $61 million. The 282,656-square-foot complex is occupied by Allstate, Bridgehampton National Bank, Crawford & Co., Urban Financial America and Morgan Stanley. Jeffrey Dunne, Steven Bardsley and Philip Heilpern of CBRE represented the seller and..

November 17, 2017