WASHINGTON, D.C. — Cassidy Turley has arranged the $167.5 million sale of the 420,000-square-foot National Press Building in Washington, D.C. Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley’s Washington, D.C. office represented the seller, Press Building, LLC. Affiliates of AEW Capital Management and Quadrangle Development Corp. acquired the property. The buyers will manage and lease it.
MASHPEE, MASS. — Boston-based Fantini & Gorga has arranged $25.25 million financing for the 156,000-square-foot, multi-phased South Cape Village, located in Mashpee. The property was developed by C. Talanian Realty and features a Marshalls, Walgreens and Roche Bros. supermarket. The financing, provided by a New England-based financial institution, represents a refinance of the borrower’s construction debt, plus closing costs and allowed the borrower to fund future construction needs and recapture equity.
GLEN FALLS, N.Y. — Scott DeVinney of NorthMarq Capital’s Rochester, N.Y., office has arranged $4 million in first-mortgage financing for a mixed-use property located on Warren Street in Glen Falls. The financing was secured through M & T Bank and was based on a 7-year term with a 25-year amortization schedule. The property contains 27 apartment units and 20,000 square feet of office space.
GARLAND — San Antonio-based USAA Real Estate Co. has sold 5th Street Crossing, a mixed-use development consisting of 188 Class A multifamily units and approximately 12,000 square feet of retail/office space at 351 N. 5th St. in Garland, to Minneapolis-based Oaks Properties LLC. The development was completed in 2009 through a development partnership between USAA Real Estate Co. and High Street Residential, a subsidiary of Trammell Crow Co. Mark Stymiest of CB Richard Ellis represented USAA Real Estate Co. in the transaction with Oaks Properties.
NEWARK, N.J. — The Manischewitz Co. has opened a new 200,000-square-foot facility, located at 30 Ave. K in Newark's East Ward, for its new corporate headquarters and plant. The facility allowed the company to consolidate its operations to one building.
BROOKLYN, N.Y. — New York-based GFI Realty Services has negotiated the $10 million sale of Atlantic Gardens, eight mixed-use buildings located at 525-541 Atlantic Ave. in Brooklyn. The buildings contain 22 apartments and eight commercial units. Lon Rubackin, formerly of GFI, represented the seller, a private investor, and Rick Helfand and Shawn Sadaghati, also of GFI, represented the buyer.
MIAMI — NoBe Bay Holdings, the joint venture between 13th Floor Investments and Key International, has purchased a mixed-use property on Miami Beach; The joint venture will invest $10 million during the next year to complete construction. The property, located at 6700 Indian Creek Dr., includes a partially completed 15-story, 98 unit waterfront condominium, a 463 space parking garage and 12,000 square feet of commercial space.
NEW YORK CITY — New York City-based Eastern Consolidated has sold two mixed-use buildings, located at 448-452 Broome St. in Manhattan, for $17 million. David Schechtman, Azita Aghravi, Marion T. Jones and Brian Ezratty represented the seller, Spain-based Caixanova, and procured the buyer, a joint venture between Tavros Capital and BLH Management.
CHICAGO — Marcus & Millichap has brokered the sale of a 23,600-square-foot mixed-use property located at 1825 W. Newport Ave. in Chicago's Roscoe Village neighborhood. The property traded for $2.03 million. Occupancy was 50 percent at the time of closing. The new owner plans to operate an upscale daycare on the building's ground floor. Michael Marks and Evan Halkias of Marcus & Millichap's Chicago office represented both undisclosed parties in the deal.
NEW YORK CITY — New York City-based Massey Knakal have brokered the sale of two mixed-use buildings located at 405-407 Atlantic Ave. in Brooklyn, New York City, for $1.87 million. The properties, which total 4,500 square feet, each contain a retail unit on the ground floor and two apartments above. Stephen Palmese and Winfield Clifford of Massey Knakal represented both the buyer and the seller.