Northeast

Houlihan-Parnes Realtors Secures $2.9M Loan for Retail Property in New York

by Amy Works August 3, 2016

BRONXVILLE, N.Y. — Houlihan-Parnes Realtors has arranged a $2.9 million first mortgage loan for a retail property located at 10-24 Palmer Ave. in Bronxville. The three-story, 23,600-square-foot property features five retail stores with 100 feet of frontage on Palmer Avenue and an auto repair shop on Paxton Avenue. The loan, which was provided by a savings bank, features a 12-year term at a seven-year, 3.47 percent fixed-interest rate and a 30-year amortization schedule. Jeremiah Houlihan of Houlihan-Parnes Realtors secured the financing for the undisclosed borrower.

August 3, 2016

Mixed-Use Multifamily New York Northeast Office Restaurant Retail

Allianz Real Estate to Acquire $420M Stake in Manhattan’s 10 Hudson Yards Tower

by Amy Works August 2, 2016

NEW YORK CITY — Allianz Real Estate has acquired a 44 percent stake — an investment of approximately $420 million — in 10 Hudson Yards, located on Manhattan’s west side. The tower is the first building completed in Related Cos. and Oxford Properties Group’s mixed-use Hudson Yards development. A limited partnership that includes Allianz, Related Cos., Oxford and institutional investors advised by J.P. Morgan Asset Management now own the property. 10 Hudson Yards is 94 percent leased to a variety of tenants, including Coach, L’Oreal USA, SAP and Boston Consulting Group. The planned mixed-use development will feature more than 17 million square feet of commercial and residential space, with more than 100 shops, a collection of restaurants, approximately 4,000 residences, cultural space, 14 acres of public open space and a 750-seat public school. Paul Meyer of Mayer Brown provided legal counsel to Allianz on the transaction.

August 2, 2016

New York Northeast Office

The Rosenblum Companies Sells Office Park in New York for $14.5M

by Amy Works August 2, 2016

ALBANY, N.Y. — The Rosenblum Companies has completed the sale of Corporate Plaza, an eight-building office park located along Washington Avenue Extension in Albany. Cass Hill Development Cos. acquired the asset for $14.5 million. Totaling 150,000 square feet, the plaza is 96 percent leased to 25 corporate, state and nonprofit tenants. The properties are located at 260, 264, 254, 250, 240 and 286 Washington Ave. Ext., 7 Executive Centre Drive and 14 Columbia Circle Drive.

August 2, 2016

Northeast Pennsylvania Retail

CBRE Arranges $11.1M Sale of Net-Leased Property in Pennsylvania

by Amy Works August 2, 2016

KING OF PRUSSIA, PA. — CBRE has arranged the sale of a net-leased property located at 715 W. Dekalb Pike in King of Prussia. A locally-based 1031 exchange investor acquired the property from Pike 705 LLC for $11.1 million, or $1,850 per square foot. Built in 2015, the 6,000-square-foot property is occupied by Verizon. Matthew Gorman and Michael Shover of CBRE represented the seller and buyer in the deal.

August 2, 2016

Loans Massachusetts Northeast Retail

Fantini & Gorga Secures $9.3M Loan for Self-Storage Facility in Massachusetts

by Amy Works August 2, 2016

AUBURN, MASS. — Fantini & Gorga has arranged $9.3 million in financing for a Casey Storage Solutions-branded self-storage facility located on State Route 20 in Auburn. Casey Investment Real Estate LLC was the borrower. Situated on 6.4 acres, the 12-building asset features 104,449 square feet of rentable space with 739 units in a mix of climate-controlled and standard units. Casimir Groblewski and Chris Miller of Fantini & Gorga arranged the financing for the borrower.

August 2, 2016

Industrial New Jersey Northeast

Colliers Negotiates $4.1M Sale of 115,300 SF Manufacturing Facility in New Jersey

by Amy Works August 2, 2016

PENNSAUKEN, N.J. — Colliers International has brokered the sale of a manufacturing facility located at 7001 N. Park Drive within Airport Industrial Park in Pennsauken. A private equity firm, which owns Standard Merchandising, acquired the 115,300-square-foot facility from Contemporary Graphics for $4.1 million. Standard Merchandising, a sock manufacturing company, will occupy the property. Marc Isdaner and Ian Richman of Colliers were the sole brokers in the deal.

August 2, 2016

Loans New York Northeast Retail

Vanbarton Group Receives $67.5M Acquisition Loan for a 31,210 SF Retail Condo in Manhattan

by Amy Works August 1, 2016

NEW YORK CITY — An affiliate of Vanbarton Group has received $67.5 million in acquisition financing for The Astor retail condominium located at 2139-2157 Broadway in Manhattan. Cushman & Wakefield arranged the floating-rate financing, which was provided by an affiliate of Mesa West Capital. The 31,210-square-foot property is at the base of the The Astor, a 12-story luxury residential complex. The condo features 18,902 square feet of ground-floor space and 12,308 square feet of basement-level space. The property is 100 percent leased to nine commercial tenants, including Barneys New York, Lululemon, Stuart Weitzman, Papyrus and L’Occitane. Steve Kohn, Alex Hernandez and Alex Lapidus of Cushman & Wakefield arranged the financing for the borrower.

August 1, 2016

Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 600,600 SF Distribution Facility in New Jersey

by Amy Works August 1, 2016

HAMILTON TOWNSHIP, N.J. — Cushman & Wakefield has arranged the sale of a distribution facility located at 401 Cabot Drive in Hamilton Township. The 600,600-square-foot building serves as the Eastern region distribution hub for Colgate-Palmolive. Completed in 2006, the property features 36-foot clear heights, 52-foot by 50-foot column spacing, 120-foot truck courts and ample car and trailer parking. Colgate-Palmolive currently occupies 431,340 square feet, with the remaining 169,260 square feet available for lease. Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt, Andrew MacDonald, Stan Danzig and Jules Nissim of Cushman & Wakefield represented the undisclosed seller and buyer in the transaction.

August 1, 2016

Industrial Loans New Jersey Northeast

Denholtz Associates Secures $4M in Refinancing for Five Flex-Industrial Properties in New Jersey

by Amy Works August 1, 2016

BRIDGEWATER, N.J. — Denholtz Associates has secured a 10-year, $4 million refinancing on five of its flex-industrial properties located at 1W-5W Chimney Rock Road in Bridgewater. Totaling 115,714 square feet, the properties are part of the Bridgewater Business Park. Michael Cook of First Bank NJ negotiated the terms of the refinance. Bridgewater Business Park features 380,000 square feet of flex-industrial space.

August 1, 2016

New York Northeast Retail

Whole Foods Market to Anchor Mixed-Use Development at One Wall Street

by Amy Works August 1, 2016

NEW YORK CITY — Macklowe Properties has partnered with Whole Foods Market to anchor One Wall Street, a residential redevelopment in downtown Manhattan. A three-story 44,000-square-foot Whole Foods Market will anchor the 155,000-square-foot retail portion of the redevelopment. The store is slated to open in late 2018. Designed by Robert A.M. Stern Architects, the retail component will feature 22-foot ceilings. The full renovation of the Ralph Walker-designed Art Deco tower will include a restoration of the iconic three-story Hildreth Meier-designed Red Room into a showroom.

August 1, 2016

Newer Posts

Older Posts