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Northeast

400-Rt-22-E-Bridgewater-NJ
New JerseyNortheastOffice

Cushman & Wakefield Arranges Sale of 200,000 SF Office Building in Bridgewater, New Jersey

by Amy Works

BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of One Grande Commons, an office building located at 400 Route 22 East in Bridgewater. American Equity Partners acquired the 200,000-square-foot property from Mack-Cali for an undisclosed price. The three-story building features a full-height atrium lobby with seating area and is home to pharmaceutical, engineering and law firms. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer, Andrew Schwartz and Frank DiTommaso of Cushman & Wakefield brokered the transaction.

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Chester-Hall-Philadelphia-PA
MultifamilyNortheastPennsylvaniaStudent Housing

Rittenhouse Realty Sells 40-Unit Student Housing Community in Philadelphia

by Amy Works

PHILADELPHIA — Rittenhouse Realty Advisors has sold Chester Hall Apartments, a 40-unit student housing community located in the University City neighborhood of Philadelphia. The property is located near the University of Pennsylvania, Drexel University and University of the Sciences. The undisclosed buyer plans to implement a small-scale renovation at the property, which is over 98 percent leased for the current school year. 

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New JerseyNortheastOffice

Markeim Chalmers Negotiates $2.3M Sale of 48,000 SF Office Building in New Jersey

by Amy Works

MOORESTOWN, N.J. — Markeim Chalmers has arranged the sale of an office building located at 505 S. Lenola Road in Moorestown. The estate of Edna Ravikio sold the property to SFA 505 South Lenola Rd LLC for $2.3 million. The building features 48,000 square feet of office space and was 90 percent occupied at the time of sale. Fred Berlinsky, Kevin Burns and Adam Dembo of Markeim Chalmers represented the seller and buyer in the deal.

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150-Motor-Parkway-Hauppauge-NY
New YorkNortheastOffice

CBRE Negotiates $21M Sale of Office Building in Hauppauge, New York

by Amy Works

HAUPPAUGE, N.Y. — CBRE has arranged the sale of an office property located at 150 Motor Parkway in Hauppauge. UA Properties acquired the building from RA 150 Motor Parkway, an entity controlled by RNY Property Trust, for $21 million as part of a 1031 exchange. The 201,258-square-foot building features a theater-style media room and boardroom, café, health club and bank branch with drive-through ATM. Jeffrey Dunne, David Gavin, Travis Langer and Philip Heilpern of CBRE represented the seller and procured the buyer in the deal.

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Lincoln-Plaza-Hingham-MA
MassachusettsNortheastRetail

NGKF Capital Markets Facilitates Sale of Retail Property in Hingham, Massachusetts

by Amy Works

HINGHAM, MASS. — NGKF Capital Markets has arranged the sale of Lincoln Plaza, a retail center located Hingham. Trustees of Curtlo LLC sold the property to an undisclosed buyer. A 68,087-square-foot Stop & Shop and a 31,882-square-foot Marshalls anchor the property, which also includes two freestanding retail pads occupied by 99 Restaurant and Rockland Trust. Geoffrey Millerd, Justin Smith, Paul Penman and Matthew Waisnor of NGKF Capital Markets represented the seller in the deal. The acquisition price was not released.

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930-N-Riverview-Dr-Totowa-NJ
IndustrialLoansNew JerseyNortheast

Tulfra Receives $9.5M in Refinancing for Industrial Property in Northern New Jersey

by Amy Works

TOTOWA, N.J. — Tulfra Real Estate has received a $9.5 million loan for the refinancing of an industrial building located at 930 N. Riverview Drive in Totowa. Jon Mikula and Michael Klein of HFF arranged the five-year, fixed-rate loan through Lakeland Bank for the borrower. The property features 91,297 square feet of light industrial space.

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LoansMultifamilyNortheastPennsylvaniaSeniors Housing

Monticello Provides $9M Loan for Skilled Nursing Facility in Pennsylvania

by Amy Works

CANONSBURG, PA. — Monticello Asset Management LLC has provided $9 million in first lien debt financing to Greenery Realty Group LLC, which will use the capital to acquire and renovate a skilled nursing facility in the Pittsburgh suburb of Canonsburg. The financing is a bridge-to-HUD loan for Greenery, a skilled nursing operator. The 140-bed facility was built in 1985 and renovated in 1995. Upon closing, the borrower implemented an initial construction project of $1.2 million and is currently in the process of making more capital expenditures. The property consists of a 52,909-square-foot, single-story skilled nursing building, a 1,700-square-foot maintenance building and a 4,000-square-foot, two-story medical office building.

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7-Industrial-Park-Medway-MA
IndustrialMassachusettsNortheast

R.W. Holmes Realty Arranges $4.6M Sale of Industrial Building in Medway, Massachusetts

by Amy Works

MEDWAY, MASS. — R.W. Holmes Realty has brokered the sale of an industrial and warehouse building located at 7 Industrial Park Road in Medway. Industrial Park Realty acquired the building from Riverside Properties for $4.6 million. MicroGroup, a medical device component manufacturer, occupies the entire 77,253-square-foot building. John Eysenbach of R.W. Holmes represented the buyer and seller in the deal.

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60-Tower-Rd-Waltham-MA
LoansMassachusettsNortheastOffice

Colliers Arranges $40.4M in Financing for 120,000 SF Office Building in Waltham, Massachusetts

by Amy Works

WALTHAM, MASS. — Colliers International has secured $40.4 million in permanent leasehold financing for 60 Tower Road, a 120,000-square-foot creative office property located at the 1265 Main project in Waltham. The borrower is a joint venture between 1265 Main Street LLC and a wholly owned subsidiary of Boston Properties LP. Jeff Black and Kevin Phelan of Colliers arranged the 15-year, fixed-rate loan with Sun Life Assurance Company of Canada for the borrower. The LEED Gold-certified building serves as the corporate U.S. headquarters of Clarks Americas, a subsidiary of C&J Clark International.

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2483-2489-Cambreleng-Ave-NYC
Mixed-UseMultifamilyNew YorkNortheastOfficeRetail

Brooklyn Standard Properties Acquires Four-Building Mixed-Use Portfolio in the Bronx for $16.5M

by Amy Works

NEW YORK CITY — Brooklyn Standard Properties has purchased a four-building mixed-use portfolio for $16.5 million. Fordham Apartments LLC sold the 56,836-square-foot portfolio that offers a total of 74 apartments, three retail spaces, office space and a 12-car parking lot. The portfolio includes a five-story, 22-unit building at 615 E. 189th St.; two four-story buildings at 2476 and 2483-2489 Cambreleng Ave. totaling 38 units; and a five-story, 14-unit mixed-use building at 2470 Belmont Ave. Aaron Jungreis of Rosewood Realty Group represented the buyer and seller in the deal.

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