MOORESTOWN AND BURLINGTON, N.J. — Brennan Investment Group has purchased a 26-building portfolio in Moorestown and Burlington, suburbs of Philadelphia, for an undisclosed price. Totaling 1.3 million square feet, 24 of the properties are located in Moorestown with the remaining two in Burlington. Brennan plans to open a regional office in one of the Moorestown properties. The Flynn Company will handle leasing and property management of the portfolio. The name of the seller was not released.
SARATOGA SPRINGS, N.Y. — Sitar Realty Co. has arranged the acquisition of 6,272 self-storage units across the Northeast. Saratoga Springs-based Prime Group Acquisitions purchased the properties, which total 673,588 square feet, for $124.4 million. The properties are located in Clinton, Lindenwold, Phillipsburg and Washington, N.J.; Brookfield, Farmington, Newington and New Milford, Conn.; Boston, Hyde Park, Quakertown, Somerville and South Boston, Mass.; and Fairless Hills, Pa. Bill Sitar Jr. of Sitar Realty Co. brokered the transactions. The names of the sellers were not disclosed.
MANASQUAN, N.J. — Levin Properties has purchased ACME Center, a retail property located at 71 Taylor Ave. in Manasquan, for an undisclosed price. ACME supermarket occupies the 19,000-square-foot property, which is situated on two acres. Levin Management Corp. served as advisor to the buyer in the deal. Levin Management Corp. is the property’s new leasing and managing agent. The name of the seller was not released.
HACKENSACK, N.J. — NAI James E. Hanson has arranged the sale of an industrial building located at 174 Union St. in Hackensack. Ninth Avenue Properties sold the 5,800-square-foot property to Petaks Kosher Foods Catering for an undisclosed price. As part of the transaction, the seller negotiated a leaseback for 300 square feet of office space at the property. The property is a two-story industrial/USDA processing plant with full cooking, preparation and refrigeration equipment, as well as second-floor storage and six parking spaces. Petaks Kosher Foods Catering plans to relocate its operations from Fair Lawn, N.J., to the new property. Anthony Cassano of NAI Hanson represented the seller in the transaction.
PALISADES PARK, N.J. — Marcus & Millichap has negotiated the sale of an office building located at 111 Grand Ave. in Palisades Park. An undisclosed seller sold the building for $3 million. The 20,000-square-foot building features 14 separate suites, ranging in size from 186 square feet to 6,000 square feet. At the time of sale, the property was 33 percent occupied. Fahri Ozturk and Tyler Van Wagoner of Marcus & Millichap represented the seller. The name of the buyer was not released.
NEWARK, DEL. — Aulder Capital has purchased Foxwood Apartments, a 414-unit value-added multifamily property located at 15 Fox Hall in Newark. Fairfield English Village LLC, an affiliate of Fairfield Residential, sold the property for $44.5 million. Foxwood Apartments comprises 31 three- and four-story residential buildings completed in the 1970s. At the time of sale, the property was 96 percent leased. The community features a mix of one-, two- and three-bedroom floor plans averaging 869 square feet. Community amenities include a resort-style pool with sundeck, playground, fitness center, barbecues, picnic areas and landscaped grounds. Mark Thomson, Carl Fiebig, Francis Coyne and Jose Cruz of HFF, along with Robert Stella of Financial & Consulting Services, represented the seller in the transaction. Additionally, James Conley of HFF arranged a $34.3 million acquisition loan for the buyer. The seven-year loan features a fixed-rate with four years of interest-only payments at 75 percent loan-to-value. The loan was provided through Freddie Mac’s Capital Markets Execution Program.
MARLBOROUGH, MASS. — R.W. Holmes Realty has arranged the sale of Mount Royal Office Park, located at the interchange of Route 20 and Interstate 495 in Marlborough. Mount Royal Associates II, an entity of Haynes Management, sold the three-building property to CB Equities Mt Royal for $8.5 million. The buyer plans to rename the property to Knowledge Park @ Marlborough and renovate the 160,000-square-foot property with a new exterior front façade, new signage, an updated fitness center with showers and a common area with a club room. Additionally, the buyer will occupy a portion of the building and plans to lease out suites ranging from 1,600 square feet to 20,000 square feet. Craig Johnson, Garry Holmes and Jim Bartholomew of R.W. Holmes represented the seller and procured the buyer in the transaction.
BELMONT, MASS. — NAI Hunneman has brokered the sale of a multifamily community located at 61-63 Moraine St. in Belmont. CMS Moraine sold the property to an undisclosed buyer for $8 million. Constructed in 1970, the community features 24 apartments in a mix of one- and two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the seller and procured the buyer in the deal.
PERTH AMBOY, N.J. — Marcus & Millichap has facilitated the sale of a retail property located at 599 New Brunswick Ave. in Perth Amboy. An undisclosed developer sold the building to an undisclosed buyer for $2.6 million. Family Dollar and All Brands Furniture occupy the 12,050-square-foot building. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller in the transaction.
WORCESTER, MASS. — Worcester-based Kelleher & Sadowsky has arranged the sale of a building, located at 695-701 Main St. in Worcester. The Church of Ebenezer acquired the 41,050-square-foot building for an undisclosed price. The building was a former People in Peril (PIP) Shelter. David Cohen and Paul Matt of Kelleher & Sadowsky brokered the deal.