REBusinessOnline

Arbor Provides $55.3M Acquisition Loan for Multifamily Portfolio Near New York City

HASBROUK HEIGHTS, N.J. — Arbor Realty Trust Inc. has provided a $55.3 million Fannie Mae acquisition loan for a multifamily portfolio totaling 388 units in Hasbrouk Heights, an eastern suburb of New York City. Skyline Apartments, built in 1950, comprises 124 one- and two-bedroom units. The Boulevard Apartments, built in 1951, consists of 214 one- and two-bedroom units. The loan carries a 12-year fixed interest rate with six years of interest-only payments. Stephen York of Arbor’s New York …

McCarthy Tire Service Signs 48,485 SF Retail Lease in Bristol, Pennsylvania

BRISTOL, PA. — Pennsylvania-based McCarthy Tire Service has signed a 48,485-square-foot retail lease in Bristol, a southern suburb of Trenton. McCarthy offers tire sales, repair and 24-hour roadside assistance for commercial trucks. The company will use the new location to consolidate its Bensalem and Philadelphia stores. Sean Durkin of Roddy Inc. represented McCarthy in the lease negotiations. John Bown III represented the landlord, Industrial Investments Inc.,

E.W. Howell Completes Construction of 89-Unit Seniors Housing Community on Long Island

WOODBURY, N.Y. — E.W. Howell Construction Group has completed Orchard Estate of Woodbury, an 89-unit assisted living and memory care community in Woodbury, a city on Long Island. Benchmark Senior Living is the developer and operator of the community. Orchard Estate of Woodbury is the second Benchmark project on Long Island, following Whisper Woods at Smithtown, which opened in 2018. E.W. Howell also served as general contractor on that

JLL Brokers Sale of 152,000 SF Bunzl Distribution Center in Buffalo

BUFFALO, N.Y. — JLL has brokered the $8.3 million sale of Bunzl Distribution Center, a 152,000-square-foot industrial property in Buffalo. The facility features 25-foot clear heights, 27 front-loading dock doors and office space. At the time of sale, the property was 100 percent leased to packaged food distributor Bunzl Midatlantic LLC. Jose Cruz and Tyler Peck of JLL represented the seller, Foxfield Industrial, in the transaction. Michael Pagniucci of JLL secured a long-term, fixed-rate …

Marcus & Millichap Negotiates $4.4M Sale of Retail Property in Hazlet, New Jersey

HAZLET, N.J. — Marcus & Millichap has negotiated the $4.4 million sale of a 14,112-square-foot retail property in Hazlet, located approximately 25 miles south of New York City. At the time of sale, CVS occupied the property’s anchor space on a 20-year lease.Alan Cafiero, Ben Sgambati and David McLaughlin of Marcus & Millichap represented the seller, a limited liability company. Other terms of sale were not

CBRE Arranges Sale of 168-Unit Apartment Community in Orange, Connecticut

ORANGE, CONN. — CBRE has arranged the $35 million sale of Grand Reserve Orange, a 168-unit apartment community located in Orange, a western suburb of New Haven. Built in 2005, Grand Reserve Orange offers one-, two- and three-bedroom floor plans with amenities including a fitness center, resident clubhouse and pool. Jeffrey Dunne, Gene Pride, Eric Apfel, Simon Butler and Biria St. John of CBRE represented the seller, Fairfield Grand Reserve LLC. The team also procured the buyer, a private New …

Condyne Sells 125,609 SF Research Facility in Andover, Massachusetts

ANDOVER, MASS. — Condyne, a Massachusetts-based developer, has sold 160 Dascomb Road, a 125,609-square-foot research facility in Andover, located approximately 20 miles north of Boston, for $26.2 million. The facility was 100 percent leased to Lockheed Martin and data and security company Accu-Tech at the time of sale. Boston Private Bank provided $17.2 million in acquisition financing. Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo of JLL represented Condyne …

Colliers Brokers Sale of 96,000 SF Office Complex in Mount Laurel, New Jersey

MOUNT LAUREL, N.J. — Colliers International has brokered the $10.6 million sale of the Fellowship Business Center, a 96,000-square-foot office complex in Mount Laurel, an eastern suburb of Philadelphia. The five-building complex is situated within the East Gate Business Park and was 96 percent occupied at the time of sale. Ian Richman and Marc Isdaner of Colliers represented the seller, The Bloom Organization. The buyer was a private

ROCK Negotiates 19,000 SF Industrial Lease in York, Pennsylvania

YORK, PA. — ROCK Commercial Real Estate has negotiated a 19,000-square-foot industrial lease for Continental Paper Grading in York, located approximately 55 miles north of Baltimore. The space is located at 3635-3725 Board Road, a 152,700-square-foot industrial complex with 12 drive-in doors and 26 docks. The landlord is Fielder Enterprises. Ted Turnbull and Jason Turnbull of ROCK brokered the

Westhab Signs 8,233 SF Office Lease in the Bronx

NEW YORK CITY — Non-profit community development organization Westhab has a signed an 8,233-square-foot office lease at Union Crossing, a 275,000-square-foot office building in the Bronx. The eight-story building was formerly a warehouse, and following renovations earlier this year, now offers office, light industrial and ground-floor retail space. With a lease term of 10 years, Westhab is the building’s first tenant since the renovation and its space will be built out. Madison Realty …

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