NEW YORK CITY — Cushman & Wakefield has brokered the $10.5 million sale of a three-story, mixed-use property in Long Island City. Located at 44-61 11th St., the 18,500-square-foot property includes retail and office space and is fully leased to four separate tenants. Stephen Preuss of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
NEWARK, N.J. — Goldman Sachs Asset Management Private Real Estate and Madison Marquette have acquired Springfield Avenue Marketplace, a newly constructed, 112,000-square-foot retail center in Newark. The sales price was not disclosed. The fully occupied property is anchored by a ShopRite grocery store and includes a mix of restaurant, retail and medical tenants. The seller was not disclosed. Springfield Avenue Marketplace is located at the intersection of Springfield Avenue and Jones Street, approximately one mile from Newark Penn Station.
PITTSTON, PA. — HJ Sims has arranged $17.5 million in financing for United Methodist Homes. The funds will finance an expansion project at the organization’s Wesley Village continuing care retirement community in Pittston, located between Scranton and Wilkes-Barre in Central Pennsylvania. The project will add an undisclosed number of independent living units to the property, through a series of cottages named Brooks Estates. Citizens Bank provided the funds.
DEVENS, MASS. — Quiet Logistics has signed a 355,000-square-foot, full-building industrial lease in Devens. Located at 64 Jackson Road, the warehouse and distribution facility was built in 2000 and is set on more than 34 acres. The property features 26 foot clear heights, full air conditioning and humidity control and a full-service cafeteria. Rick Schuhwerk, Ed Jarosz Tony Coskren, Brian Pinch and Lizzie Kusbit of NKF represented the owner, GFI Partners, in the transaction. Quiet Logistics is a fulfillment provider specializing in e-commerce solutions.
SAYVILLE, N.Y. — NAI Long Island has negotiated the $1.6 million sale of a medical office building in Sayville. Located at 160 Middle Road, the 7,300-square-foot property is currently occupied by Long Island Family Medical Group. Gary Pezza of NAI Long Island represented the seller, John A. Zimmerly, M.D., in the transaction. The buyer was 1449 Holdings LLC.
NEW YORK CITY — Youngwoo & Associates has broken ground on the Radio Tower & Hotel, a 235,000-square-foot, mixed-use property in the Washington Heights neighborhood of Manhattan. The 22-story building will include 155,000 square feet of office space, a 221-room boutique hotel and 8,000 square feet of ground-floor retail. The property is located on Amsterdam Avenue between 180th and 181st Streets. Youngwoo & Associates acquired the site, which was formerly a gas station, in 2013.
NEW YORK CITY — Marcus & Millichap has brokered the $11.8 million sale of a two-building apartment community in the Cobble Hill neighborhood of Brooklyn. Located at 439-441 Henry St., the property includes 73 feet of residential frontage on Henry Street. Matt Fotis and Dylan Renicker of Marcus & Millichap’s Manhattan office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
PHILADELPHIA — Cushman & Wakefield has arranged $13.1 million in acquisition financing for a 452,375-square-foot industrial facility in Philadelphia. Located at 11200 Roosevelt Blvd., the property is fully leased to a mix of industrial users. John Alascio, Sridhar Vankayala and Zachary Kraft of Cushman & Wakefield’s Equity Debt & Structured Finance group secured financing for the borrower, Ivy Realty, through lender Reinsurance Group of America Inc. Ivy Realty plans to make $3 million in capital improvements to the property and rebrand it as the Roosevelt Industrial Center.
SOUTH DEERFIELD, MASS. — SRS Real Estate Partners has arranged the $1.9 million sale of a single-tenant retail property in South Deerfield. The property is triple-net leased by Cumberland Farms Inc. The newly developed 4,786-square-foot property is situated on just under two acres of land at 31 Elm St. Britt Raymond, Matthew Mousavi, Patrick Luther and Kyle Fant of SRS represented the seller, a local developer, in the transaction. The buyer was a private investor.
BLOOMINGDALE, N.J. — NAI James E. Hanson has negotiated the sale of a 2,200-square-foot retail property in Bloomingdale. The sales price was undisclosed. LJ Koch of NAI James E. Hanson represented the seller, Waldo LLC, in the transaction. The buyer was undisclosed. Located at 217 Hamburg Turnpike, the building previously served as the home of Walker’s Deli. The new owner plans to renovate and reopen the space as a high-end café, which will feature unique coffee drinks, homemade baked goods, and fresh, made-to-order breakfast and lunch items.
