Industrial

CARTERET, N.J. — Everflow Supplies has acquired a 100,000-square-foot industrial property, located at 100 Middlesex Ave. in Carteret, about 15 miles south of Newark, for $4 million. The seller was Wyckoff Associates. Everflow, a distributor of valves, heating components, plumbing specialty and pipe products in New Jersey, will move from its current 65,000-square-foot distribution headquarters, located at 2401 E. Linden Ave. in Linden, to the new building. The property is strategically located near several major roadways, including the New Jersey Turnpike and Routes 1 and 9. The property is also close to Port Newark, Central New Jersey and Lower Manhattan. Jordan Metz of Bussel Realty Corp. represented Everflow in the transaction.

PALMER, MASS. — Polymer Corp. has signed a lease for 58,000 square feet of single-story industrial space at One Third Street in Palmer, located about 35 miles west of Worcester. One Third Street is a modern building with warehouse and office space and is located in Palmer Industrial Park. David Stubblebine of the Stubblebine Co. represented the tenant in the transaction. Development Associates represented the landlord, Manchem LLC. Polymer Corp. manufactures low-volume, close-tolerance plastic parts and assemblies for blue-chip customers.

BOSTON — NorthMarq Capital has arranged $59 million in acquisition and mezzanine financing for the Condyne Industrial Portfolio located throughout the Boston area. The portfolio includes five buildings and a total of 1.5 million square feet of industrial space. Financing was based on a five-year term with one year of interest-only payments and a 29-year amortization schedule. NorthMarq arranged this financing for the borrower, Massachusetts Industrial LLC, through its relationship with a REIT. James Murphy of NorthMarq’s Boston regional office represented the borrower in the transaction.

NEW YORK CITY — Hudson Realty Capital LLC has funded a $17 million first mortgage loan secured by a three-story, vacant industrial loft building in the DUMBO (Down Under the Manhattan Bridge Overpass) section of Brooklyn. In addition to utilizing loan proceeds to acquire the 81,805-square-foot building and establish reserves, the undisclosed borrower has also secured a $2.5 million upsize option from Hudson, contingent upon obtaining certain NYC Landmarks Preservation Commission approvals. The borrower plans to convert and reposition the former factory, built in 1913, for multifamily use. The borrower is seeking landmark approvals to alter the façade and add additional floors. Located on Water Street, between Jay Street and Bridge, the building is situated within the historic Brooklyn waterfront district.