MILFORD, CONN. — Jon Angel of Angel Commercial has arranged a 29,000-square-foot lease expansion for RoadWerx in Milford. RoadWerx, a marketing and promotions agency, has signed a long-term lease to add the space to its headquarters at 60 Research Drive. Angel represented both the tenant and landlord in the transaction.
NEW YORK CITY — HFF has arranged a joint venture for the development of 69 West Broadway, a ground-up condominium project in the Tribeca neighborhood of Manhattan. HFF worked on behalf of the developer, Cape Advisors, along with private equity fund Forum Absolute Equity Partners to arrange the investment with a European fund. The fund contributed in excess of $21 million toward the $120 million total project cost. BKSK Architects is designing the property, which will occupy the block between Warren and Murray streets at West Broadway. The eight-story 69 West Broadway development will include 24 units situated above ground-floor retail. Eric Anton led HFF’s equity placement team.
NORTH BERGEN, N.J. — Terreno Realty Corp. has acquired an industrial property located at 7777 West Side Ave. in North Bergen for $14 million. The building spans 126,000 square feet on 4.4 acres adjacent to Exit 16E of the New Jersey Turnpike. Amenities at the 100 percent leased property include eight dock-high and two grade-level loading positions, plus parking for 70 cars.
NEW YORK CITY — Equicap has secured a $5.8 million construction loan for a mixed-use development in the Williamsburg neighborhood of Brooklyn. The site is located directly above an L train subway stop and within walking distance to the JMZ trains. The developer obtained approval from the MTA for the project. The property will feature five condo units and one ground-floor retail space.
CAMP HILL, PA. — Cushman & Wakefield has brokered a 68,846-square-foot office lease in the Harrisburg suburb of Camp Hill. St. Louis-based Centene Management Co., a healthcare services provider, is the new tenant at at 300 Corporate Center Dr. in the Camp Hill Corporate Center. Jason Sourbeer and Scott Bazoian led the Cushman & Wakefield teams in the transaction. Cushman & Wakefield represented both the tenant and landlord, LNR Partners, a division of Starwood Property Trust.
AGAWAM, MASS. — Colliers International has negotiated the $6.4 million sale of an industrial property in Agawam. MAG Acquisition Corp. has purchased 101 HP Almgren Dr., a 186,000-square-foot property that is 100 percent leased. Nicholas Morizio and Ian Hunt of Colliers’ Hartford, Conn., office represented the buyer in the transaction.
SUTTON, MASS. — Galaxy Development has purchased five acres for an addition to the Pleasant Valley Crossing Shopping Center in Sutton. The new parcel will accommodate a 5,500-square-foot restaurant and a multi-tenant, 19,000-square-foot retail plaza. MidPoint Engineering will submit plans for permits this spring and the developer expects to start construction in the fall, with store openings planned for summer 2018. Todd Lornell was the broker for the seller, Fuller Hamlets Soccer Club. Pleasant Valley Crossing is a grocery-anchored project with current tenants including Market 32 by Price Chopper, Five Guys, Verizon, Great Clips, Q-Nails, Pleasant Valley Dental and UniBank. Additional land for the project can accommodate up to 130,000 square feet of retail. When complete, the project will total 225,000 square feet of retail space plus a residential parcel that can accommodate multifamily or seniors housing.
HAMDEN, CONN. — Marcus & Millichap’s Institutional Property Advisors (IPA) division has brokered the $63.1 million sale of Seramonte Apartments, a 451-unit multifamily community in Hamden. The sales price equates to just under $140,000 per unit. Victor Nolletti of IPA’s Northeast and Florida team was the lead advisor on the transaction. Seramonte was built between 1965 and 1968. Nolletti, Steve Witten, Eric Pentore and Wes Klockner of Marcus & Millichap’s New Haven office represented the seller, Seramonte Associates LLC, and procured the buyer, Detail Management LLC. Seramonte Apartments is located on more than 30 acres at 1 Kaye Plaza, just off exit 60 on the Merritt Parkway/Route 15.
PENNSVILLE, N.J. — Eastern Union Funding’s David Singer has arranged a $10.5 million loan for AJH Management Co.’s purchase of Laura’s Glen, a 197-unit apartment community in Pennsville. Eastern Union, working with Greystone, secured a 30-year term with the GSE lender. Matt Wilheimer of The Kislak Co. represented the seller in the transaction.
EVERETT, MASS. — Natixis has provided a $38 million floating-rate loan on Wellington Parkside Apartments for Boston-based Taurus Investment Holdings. Proceeds from the loan will fund the acquisition and lease-up of the 190-unit, Class A multifamily property. Wellington Parkside Apartments is located in Everett, four miles north of the Boston central business district and one mile from the site of the Wynn Boston Harbor Casino. Taurus has retained Boston-based The Dolben Co. to handle leasing and management of the property. John Kelly of CBRE’s Boston office arranged the financing.
