PENNSAUKEN, N.J. — Markeim Chalmers has arranged the sale of an industrial building located at 1395 Suckle Highway in Pennsauken. 153 Suckle Highway LLC acquired the 37,215-square-foot building for $1.2 million. Adam Dembo of Markeim Chalmers represented the seller, Suckle Properties, in the deal.
GARFIELD, N.J. — Marcus & Millichap has brokered the sale of Davison Apartments, an apartment building located at 500 Lanza Ave. in Garfield. A limited liability company sold the eight-unit property for $1.1 million. Daniel Aviles of Marcus & Millichap represented the seller and buyer, a private investor, in the deal.
NEW YORK CITY — UC Funds and HAP Investment Developers have opened 329 Pleasant Avenue, an eight-story apartment building located in East Harlem. The 21,500-square-foot building features 20 apartments in a mix of studio, one- and two-bedroom layouts. On-site amenities include in-unit washers/dryers, a roof garden, private terraces and designer kitchens and bathrooms. Karim Rashid designed the building.
Harborview Arranges $20.7M Acquisition Loan, Line of Credit for Skilled Nursing Facility in New York
WESTCHESTER, N.Y. — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $19.2 million bridge-to-HUD acquisition loan and $1.5 million line of credit for a skilled nursing facility in the New York City suburb of Westchester. A national lender provided the capital. The financing features a LIBOR-based rate, three-year term, interest-only payments for the full term and an 80 percent loan-to-cost ratio. Eli Kutner and Jonathan Kutner of Harborview negotiated the financing.
POTTSTOWN, PA. — CBRE has arranged the sale of Town Square Plaza, a power center located at 1100 Town Square Road in Pottstown. Bluejay Management acquired the 215,610-square-foot property from Retail Properties of America for an undisclosed price. Built in 2004, the property was 98 percent occupied at the time of sale. A 134,574-square-foot Lowe’s Home Improvement Warehouse anchors the property. Other tenants include PetSmart, Michaels, Rite Aid Pharmacy, BB&T Bank, Mattress Firm, Hair Cuttery, LongHorn Steakhouse, AT&T and H&R Block. Brad Nathanson and John Colussi of CBRE represented the seller and identified the buyer in the deal.
OAKDALE, N.Y. — Breslin Realty has arranged the sale of a retail property located at 1230 Montauk Highway in Oakdale. An undisclosed buyer acquired the 17,424-square-foot property for $1.2 million. The buyer plans to use the property as the site of a future gas station and convenience store. Bill de Seve and Russ Lico of Breslin Realty negotiated the transaction.
BERLIN, CONN. — O,R&L Commercial has facilitated the lease of 18,000 square feet of warehouse distribution and office space at 24 New Park Drive in Berlin. FSB leased the space from The Cariati Family LP. The tenant plans to use the space for its U.S. headquarters. Frank Hird of O,R&L represented the tenant, while James Neckerman of Commercial Real Estate Group represented the landlord in the lease transaction.
JERSEY CITY, N.J. — A joint venture between Hartz Mountain Industries and Panepinto Properties has completed the development of 3 Journal Square, an apartment building located at 2935 John F. Kennedy Blvd. in Jersey City’s Journal Square district. Designed by Marchetto Higgins Stieve, the 13-story building features 240 apartment units, an indoor pool, 24-hour concierge and maintenance, a health and fitness center, resident lounge and a rooftop terrace.
FRANKLIN, MASS. — CBRE/New England has arranged the sale of Glen Meadow, an apartment community located off Exit 17 on Interstate 495 in Franklin. Glen Meadow Owner LLC, a joint venture between The Schochet Cos. and Rose Affordable Housing Preservation Fund IV, an affiliate of Jonathan Rose Cos., acquired the property for $51.1 million. Built in 1971, the property features 88 one-bedroom units and 200 two-bedroom townhomes. Simon Butler and Biria St. John of CBRE/NE represented the undisclosed seller and procured the buyer in the deal.
NEW YORK CITY — Yuco Real Estate has completed Brook Avenue Apartments, a two-building multifamily development located at 463 and 469 E. 147th St. in the Mott Haven neighborhood of the Bronx. The $24.4 million, 78.806-square-foot property features 66 apartment units. The five-story building at 463 E. 147th St. features seven studio units, 35 one-bedroom units, 12 two-bedroom apartments and one three-bedroom unit. The other building features 10 two-bedroom units and a one-bedroom apartment. Bong Yu provided engineering and architectural services for the project, while Yuco Builders served as the general contractor. The Bank of New York Mellon, First Sterling Financial and the Community Preservation Corp. provided financing for the development.