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Northeast

Chapelbridge-Park-Newton-MA
MassachusettsNortheastOffice

Transwestern Brokers Two Leases to Bring Massachusetts Office Park to 95 Percent Occupancy

by Amy Works

NEWTON, MASS. — Transwestern has negotiated two leases totaling 36,854 square feet at Chapelbridge Park, an office park located in Newton. The new leases bring the 250,000-square-foot property to more than 95 percent occupancy. In the first transaction, Paytronix Systems Inc. expanded its corporate headquarters space from 12,383 to 33,283 square feet. Ted Lyons and Michael O’Leary of Cushman & Wakefield represented Paytronix in the lease. In the second deal, Ixxus Limited, a global provider of publishing solutions, signed a lease for 3,571 square feet of space for its U.S. headquarters. Warren Brown of Boston Commercial Properties represented the tenant, which is relocating from Washington Street in Newton. Ron Friedman, Rob Byrne, Chris Mullen and Perry Beal of Transwestern represented the landlord, Chapelbridge Associates, in the transactions.

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New YorkNortheastRetailTop Stories

Kimco Realty Acquires Remaining Interest in Four-Property Retail Portfolio for $170.7M

by Katie Sloan

NEW HYDE PARK, N.Y. — Kimco Realty Corp. (NYSE: KIM) has bought out its joint venture partners in a four-property retail portfolio, purchasing the remaining 85 percent interest for $170.7 million. The acquisition included the assumption of $103 million in mortgage debt, $26 million of which was prepaid by the company. The joint venture partners that sold their interest were undisclosed. The portfolio includes Perimeter Expo, a 175,835-square-foot shopping center in the Atlanta suburb of Dunwoody, Ga.; Cranberry Commons, a 166,495-square-foot shopping center in the Pittsburgh suburb of Cranberry Township, Pa.; Cypress Towne Center, a 279,210-square-foot shopping center in Houston; and Doc Stone Commons, a 101,042-square-foot shopping center in Stafford, Va., approximately 50 miles southwest of Washington, D.C. Portfolio tenants include Nordstrom Rack, Marshalls, Old Navy and Newk’s Eatery at Perimeter Expo; TJ Maxx, Lane Bryant, PetSmart and Starbucks Coffee at Cranberry Commons; Michaels, Best Buy, TJ Maxx and Bed Bath & Beyond at Cypress Towne Center; and Petco, Giant Food, Staples and Subway at Doc Stone Commons. In a separate transaction, Kimco recently acquired Kentlands Market Square, a 251,000-square-foot, open-air shopping center located in the Washington, D.C., suburb of Gaithersburg, Md., for $95 million. Whole Foods Market anchors the …

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High-Pointe-Harrisburg-PA
NortheastPennsylvaniaRetail

Unison Realty Partners Buys 132,000 SF Portion of 355,000 SF Shopping Center in Harrisburg

by Amy Works

HARRISBURG, PA. — Unison Realty Partners has acquired 100 percent ownership interest in the 132,000-square-foot non-anchor portion of High Pointe Commons, a 355,000-square-foot regional shopping center located in Harrisburg, for $33.8 million. The 132,000-square-foot acquisition includes retail space occupied by Christmas Tree Shops, Chili’s Bar & Grill, Famous Footwear, Lane Bryant, Sleepy’s and Petco. Built in 2006, the property is anchored by an independent 125,000-square-foot Target and a 98,000-square-foot JCPenney, which were not included in the sale. High Pointe Commons is currently 99 percent leased. Brad Nathanson of CBRE represented the seller, a joint venture between High Real Estate Group and CBL & Associates. Thomas Gorman, also of CBRE, represented the buyer in arranging financing for the acquisition.

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90-31-Whitney-Ave-NYC
MultifamilyNew YorkNortheast

Private Investors Acquire 60-Unit Multifamily Building in Queens for $17M

by Amy Works

NEW YORK CITY — Three private investors, JD Broadway Realty, JE Broadway Realty and 90-31 Whitney Broad, have acquired a multifamily building located at 90-31 Whitney Ave. in the Elmhurst section of Queens. Whitney LLC sold the six-story property for $17 million. Built in 1936, the 67,200-square-foot building features 60 apartments. Aaron Jungreis of Rosewood Realty Group represented the seller, while Michael Guttman, also of Rosewood, represented the buyer in the deal.

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332-E-9th-St-NYC
Mixed-UseMultifamilyNew YorkNortheastOfficeRetail

Brookhill Properties Expands Portfolio with Acquisition of Mixed-Use Property in Manhattan

by Amy Works

NEW YORK CITY — Brookhill Properties has purchased a five-story residential and commercial building located at 332 E. 9th St. in Manhattan East Village. Tabak Family Realty Co. sold the property for an undisclosed price. Built in 1920, the 9,546-square-foot property features 20 residential units and two commercial spaces. Paradigm Commercial Real Estate assisted Brookhill in the transaction.

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250-Sherman-Ave-NYC
MultifamilyNew YorkNortheast

GFI Realty Services Arranges $4.3M Sale of Apartment Building in Manhattan

by Amy Works

NEW YORK CITY — GFI Realty Services has brokered the sale of an apartment building located at 250 Sherman Ave. in Manhattan’s Inwood section. Lewis Barbanel of Barberry Rose Management acquired the property from a local investor for $4.3 million. The five-story, 17,350-square-foot building features 20 residential units. Daniel Shragaei of GFI represented the seller, while Sasha Berg, also of GFI, represented the buyer in the transaction.

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131-Hollow-Tree-Ridge-Road-Darien-CT
ConnecticutIndustrialNortheast

O,R&L Commercial Negotiates $3.7M Sale of Land Parcel in Connecticut

by Amy Works

DARIEN, CONN. — O,R&L Commercial has arranged the sale of a 3.7-acre land parcel located at 131 Hollow Tree Ridge Road in Darien. John Hertz and Robert Wood acquired the property for $3.7 million. The seller was Karen Park, as authorized by the Superior Court of the Judicial District of Hartford, Conn. The buyers plan to develop a 100,000-square-foot storage facility on the site. Phil Marshall of O,R&L Commercial represented the seller, while Halstead Properties represented the buyer in the deal.

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Rivers-Edge-Apts-Laconia-NH
MultifamilyNew HampshireNortheast

32-Unit River’s Edge Apartments Opens in New Hampshire

by Amy Works

LACONIA, N.H. — The Laconia Area Community Land Trust has opened River’s Edge Apartments, a 32-unit affordable housing complex overlooking the Winnipesaukee River in Laconia. Located on Union Avenue, the three-story building features 12 one-bedroom and 20 two-bedroom fully accessible units, on-site parking, laundry facilities, an infant daycare facility and 700 feet of frontage along Winnipesaukee River. Eckman Construction Co., serving as general contractor, had to remove more than 300 tons of contaminated soil from the former industrial site prior to construction. The project was financed by New Hampshire Housing Finance Authority, Raymond James, NeighborWorks America, Community Development Finance Authority, the City of Laconia, Belknap County, Rural Local Initiatives Support Corp. and the Laconia Area Community Land Trust. The project was designed by George Hickey Architect and Warrenstreet Architects.

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2320-W-12th-St-NYC
MultifamilyNew YorkNortheast

Rosewood Realty Facilitates $17M Sale of 51-Unit Residential Portfolio in Brooklyn

by Amy Works

NEW YORK CITY — Rosewood Realty Group has arranged the sale of a Section 8 housing portfolio located in Brooklyn’s Gravesend section. Orbach Group acquired the portfolio from Black Spruce Management for $17 million. The 51-unit portfolio comprises 17 buildings located at 2320-2336 W. 12th St. and 2315-2321 W. 13th St. The buildings feature 34 three-bedroom units, 17 one-bedroom apartments and 17 parking spaces. Aaron Jungreis of Rosewood Realty Group represented the seller and buyer in the transaction.

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New HampshireNortheastRetail

Vazza Acquires 35,000 SF Retail Center in New Hampshire

by Amy Works

CONCORD, N.H. — The Vazza Real Estate Group has acquired an inline retail center located at 89 Fort Eddy Road in Concord for an undisclosed sum. The 35,000-square-foot multi-tenant property includes a corporate-owned Planet Fitness as a tenant. The buyer plans to invest in the property through a capital improvement and property management plan. The name of the seller was not released.

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