LAWRENCE, N.J. — Houlihan-Parnes Realtors has placed an $18 million first mortgage and credit facility for Lawrence Shopping Center, located at 2495-2421 Brunswick Pike and Harding Avenue in Lawrence. Acme Supermarket, Burlington Coat Factory and Staples are major tenants at the 400,000-square-foot property. A joint venture between JJ Operating Inc. and principals and investors from Houlihan-Parnes Realtors recently acquired the property.
WAYNE AND SOMERSET, N.J. — G.S. Wilcox & Co. has secured two loans totaling $12.7 million for two industrial properties in New Jersey. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. arranged the financing for the borrowers. In the first transaction, the firm secured a $10 million loan for a 311,813-square-foot warehouse distribution center in Wayne. The borrower was an undisclosed developer. In the second deal, the company secured $2.7 million loan for the refinancing for a warehouse facility located in Somerset for an undisclosed developer borrower.
SCRANTON, PA. — Hinerfield Commercial Real Estate has arranged the acquisition of an industrial building located at 501 S. Washington Ave. in Scranton. MTM Real Estate Co. sold the 158,200-square-foot building to Wyoming Avenue Development for an undisclosed price. Banko Northeast currently occupies the property, which offers dry and wet warehouse distribution space and 13,000 square feet of office space. Dave Daris of Mericle Commercial Real Estate represented the seller, while John Cognetti of Hinerfield represented the buyer in the deal.
NEW YORK CITY — Cushman & Wakefield has secured two loans, totaling $21.8 million, for two multifamily properties in Queens. The loans feature a 3.25 percent fixed rate for a five-year term. Proceeds of the loans will be used to recapture equity on the properties. The properties are located at 108-20 62nd Drive in the Forest Hills section of Queens and 136-42 Maple Ave. in Flushing. Totaling 130,000 square feet, the properties offer a total of 135 residential units. Morris Betesh, Justin Boruchov, Daniel Belecen and Omar Ferreira of Cushman & Wakefield handled the financing. Dime Savings Bank provided the loans for the undisclosed borrower.
NEW YORK CITY — Coldwell Banker Commercial Reliable Real Estate has arranged the sale of an industrial property located between Schenk Avenue and Barbey Street in Brooklyn. An undisclosed buyer acquired the 76,000-square-foot property for $11 million. Built in 1914, the property features five buildings and two vacant parking lots. Joseph Hamdan and Mary Kae Higgins of Coldwell Banker Commercial Reliable Real Estate represented the undisclosed seller in the deal.
NEW YORK CITY — Alpha Realty has brokered the sale of a retail property located at 6214 11th Ave. in Brooklyn’s Borough Park section. An undisclosed buyer acquired the property for $6.2 million. The 6,000-square-foot property features eight commercial units. Additionally, the acquisition included a vacant lot with 11,000 square feet of buildable space. Glenn Raff and Lev Mavashev of Alpha Realty represented the undisclosed seller, while Jacob Aranov, also of Alpha Realty, represented the buyer.
COLCHESTER, VT. — Nedde Real Estate has brokered the purchase of a multifamily property located at 961-967 Mill Pond Road in Colchester. Jeff Peck of Peck Investment Properties acquired the 12-unit apartment building from RMPR LLC for an undisclosed price. Grant Butterfield of Nedde Real Estate represented the buyer, while Steve Donahue of Donahue & Associates represented the seller in the transaction.
NEW YORK — SL Green Realty Corp. (NYSE: SLG), the largest office landlord in New York City, has sold a 29 percent interest in One Vanderbilt, a 58-story office tower under construction in Midtown Manhattan. SL Green sold a 27.6 percent interest to the National Pension Service of Korea (NPS) and a 1.4 percent interest to Hines Interest LP. NPS and Hines have committed no less than $525 million in combined equity to the project. “NPS is an extraordinary partner for us at One Vanderbilt and will help realize our shared vision for developing the best building in New York City,” says Marc Holliday, CEO of SL Green. “Hines has been with us at One Vanderbilt from the beginning and will be a terrific addition to the joint venture.” SL Green Realty Corp. and Hines are co-developing the building, and AECOM’s Tishman Construction is serving as the general contractor. Tishman broke ground on the project in October 2016. Upon completion in 2020, the skyscraper will be located adjacent to Grand Central Terminal. As part of the development, SL Green has committed $220 million for public improvements to the mass transit hub. In September 2016, SL Green closed on $1.5 billion …
LODI, N.J. — Gebroe-Hammer Associates has arranged the sale of Cedar Wright Gardens, an apartment complex located at 77 Mary St. in Lodi. Cedar Wright Apartments LLC acquired the property from Cedar Wright Gardens LP for $100 million. Situated on 31 acres, the property features 642 units in a mix of one- and two-bedroom layouts, on-site laundry facilities, off-street and optional garage parking and courtyards. Ken Uranowitz, Joseph Brecher and Greg Pine of Gebroe-Hammer represented the seller and identified the buyer in the transaction.
BOSTON — HFF has arranged $63 million in financing for two office buildings, located at 320 and 333 Summer St. in Boston’s Seaport District. Frederic Wittman and Brett Paulsrud of HFF secured the 10-year, 3.65 percent fixed-rate loan with The Hartford Financial Services Group for the borrower, ASB Real Estate Investments. Totaling 217,000 square feet, the buildings feature loft-style space that is 97 percent leased to LogMeln, a PC data systems management firm that is merging into a subsidiary of Citrix. ASB’s Allegiance Fund, in a joint venture with Lincoln Property Co., owns the buildings.
