REBusinessOnline

Marcus & Millichap Brokers Sale of Two Mixed-Use Buildings in Brooklyn for $18.7M

NEW YORK CITY — Marcus & Millichap has brokered the $18.7 million sale of two mixed-use properties in Brooklyn located at 984-994 Winthrop St. and 4512-4524 Church Ave. Matt Fotis, Matt Shapiro and Tyler Workman of Marcus & Millichap represented the seller, Renaissance Realty Associates, in the transaction. The Bauta Family purchased both properties. The first property, 984-994 Winthrop St., is a four-story building consisting of five retail units and 39 residential units. The second, …

Capital One Provides $47.2M HUD Refinancing for Three Skilled Nursing Facilities in Massachusetts

CHELSEA, FALL RIVER, BROCKTON, MASS. — Capital One has provided $47.2 million to refinance a portfolio of skilled nursing facilities in Massachusetts. The three facilities have a combined 512 beds and were purchased as part of a four-facility portfolio in 2016. The properties are Eastpointe Rehabilitation and Skilled Care Center in Chelsea with 195 beds, Southpointe Rehabilitation and Skilled Care Center in Fall River with 152 beds, and Baypointe Rehabilitation and Skilled Care Center in …

Davis Cos. Arranges 48,700 SF Lease for Pharmaceutical Company at Alewife Research Center in Cambridge

CAMBRIDGE, MASS. — The Davis Cos. has arranged a 48,700-square-foot lease for Japanese pharmaceutical conglomerate Eisai Inc. at the Alewife Research Center in Cambridge. Eisai will relocate from its current site in Andover in the first quarter of 2019. Developed by The Davis Cos., the Alewife Research Center is a LEED Silver-certified, 224,000-square-foot laboratory building with ground-floor retail. Located at 35 Cambridgepark Drive, the five-story facility is scheduled for completion by …

TerraCRG Negotiates Sale of Mixed-Use Portfolio in Brooklyn for $8.5M

NEW YORK CITY — TerraCRG has negotiated the $8.5 million sale of a mixed-use portfolio in the Bushwick neighborhood of Brooklyn. The three adjacent properties are located at 373, 375 and 379 Knickerbocker Ave. and total 16,390 square feet, featuring three ground-level retail stores and four residential apartments. The properties also have approximately 8,900 square feet of additional buildable square footage. TerraCRG represented the sellers, Beth and Sue Kneller, in the transaction. Keller …

MCR Acquires Hilton Garden Inn at T.F. Green International Airport in Rhode Island

WARWICK, R.I. — MCR Development has acquired the Hilton Garden Inn Providence Airport/Warwick in Warwick. The price was not disclosed. The 160-room hotel opened in 2005 and is located at Rhode Island’s T.F. Green International Airport, which serves 4 million passengers annually. Amenities at the hotel include a fitness center, indoor pool, 24-hour convenience store, free airport shuttle and a connection to the Iron Works Tavern, a community bar housed in the historic 1867 R.I. Malleable …

Cornerstone Realty Capital Arranges $58M Construction Loan for Apartment Community Near Boston

QUINCY, MASS. — Cornerstone Realty Capital has arranged $58 million in financing for the construction of Quarry Hills Apartments, a 269-unit apartment community in Quincy. The borrower was undisclosed, though Chicago-based owner-operator Equity Apartments lists the property on its website. The community, which is located 11 miles south of downtown Boston, will consist of two five-story residential buildings. Amenities will include two courtyards, a firepit, outdoor kitchen, lounge area, …

Progress Capital Secures $6.8M Acquisition Financing for Medical Office in New Jersey

MILLBURN, N.J. — Progress Capital has secured $6.8 million in acquisition financing for PRLog, a 21,834-square-foot medical office building in Millburn. Brad Domenico of Progress Capital arranged a 15-year loan with a 30-year amortization for the undisclosed borrower that includes a seven-year fixed rate of 4.75 percent. The lender was not disclosed. The two-story building is currently divided into 11 individual units and was fully occupied at the time of sale by nine medical

Hinerfeld Sells Two Industrial Facilities in Pennsylvania for Combined $1.9M

LUZERNE COUNTY, PA. — Hinerfeld Commercial Real Estate has sold two transportation-related industrial properties in Luzerne County for a combined $1.9 million. The first property is located at 137 Armstrong Road in the O’Hara Industrial Park in Pittston Township. NFI acquired the 10,700-square-foot property for $1.05 million. The second property, located at 90 Eugene Drive, features 31 cross-dock terminals as well as shops and offices. Saia Motor Freight Line LLC acquired the property for …

LinkedIn Expands Lease at Empire State Building to 312,947 SF

NEW YORK CITY — LinkedIn has signed a lease for an additional 30,165 square feet at the Empire State building in Manhattan, bringing the company’s total footprint at the building to 312,947 square feet. The social media and networking website now occupies space on floors 3, 22, 23, 24, 25, 26, 27 and 28. Sacha Zarba and Lauren Crowley of CBRE represented LinkedIn in the lease negotiations with the landlord, Empire State Realty Trust Inc. (NYSE: ESRT). Amenities at the Empire State …

Fantini & Gorga Arranges $2.8M in Financing for Flex Building Near Worcester

SHREWSBURY, MASS. —  Fantini & Gorga has arranged $2.8 million in first mortgage financing for a 36,660-square-foot flex building located at 910 Boston Turnpike in Shrewsbury. The property is approximately six miles east of Worcester. Derek Coulombe and Lindsay Feig of Fantini & Gorga arranged the 15-year, fixed-rate financing on behalf of the undisclosed borrower through a life insurance company. The property was built in 1985 and is broken up into eight rental units with nine total …

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