NEW CANAAN, CONN. — Rhys has arranged the sale of a portfolio in downtown New Canaan including a mixed-use building and two residential properties slated for future development. Ivanhoe Collective purchased 19 Vitti St., a 4,700-square-foot mixed-use building for $2.6 million. The new owner plans to open a business called The Cultivated Collector, a showroom catering to those who own or want to own classic cars. The two-story Vitti Street building features an on-site parking garage. It was previously occupied by Young Life, a Christian charity that is moving to Stamford, Conn. HB Nitkin Group is the buyer of two residential properties adjacent to 19 Vitti St. The company purchased 60 and 64 E. Ave. for $1.5 million. The property at 60 E. Ave. is a 1,400-square-foot single-family rental home built in 1900. The house at 64 E. Ave. is 2,020-square-foot rental home built in 1876. The long-term goal of the new owners is to work with the town to redevelop the sites into a mixed-use project.
ROCKLAND, MAINE — Cardente Real Estate has arranged the sale of a retail building located at 166 Camden St. in Rockland. Rockland LLC purchased the former Wendy’s location for $337,000. The 2,887-square-foot building sits on 0.9 acres of. Doug Erickson of The Masiello Group represented the seller, Blackstone Properties, and Michael Cardente of Cardente Real Estate represented the buyer.
CHAPPAQUA, N.Y. — Jeffrey Dunne, Kyle Juszczyszyn and David Gavin of CBRE have secured $68 million in financing for the development of Chappaqua Crossing in Chappaqua. Dunne, Juszczyszyn and Gavin represented The Grossman Co. and Summit Development in arranging the loan for the planned 120,000-square-foot retail center. The team was responsible for procuring the 90 percent institutional joint venture equity partner in addition to securing the new construction financing of $44 million with M&T Bank. Whole Foods will anchor Chappaqua Crossing, which will sit on a 19.1-acre site inside a 114-acre mixed-use development. Other tenants will include Life Time Fitness, Pet Valu, Chase Bank, AT&T and GoHealth Urgent Care.
PLAISTOW, N.H. — Inland Real Estate Income Trust has acquired the 199,335-square-foot Pentucket Shopping Center in Plaistow. The property is located one mile north of the Massachusetts state border and about 40 miles north of Boston. Mark Cosenza of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Real Estate Income Trust. Originally constructed in 1986 and remodeled in 2004, Pentucket Shopping Center is located at 58 Plaistow Road. The property was 98 percent leased as of the acquisition date. Tenants at the center include The Home Depot, Staples, Bed Bath & Beyond, Hallmark, Sally Beauty Supply, Sport Clips and Santander Bank.
NORWALK, CONN. — Cushman & Wakefield has arranged the $11.9 million sale of Belden Square, a two-building medical office/residential apartment complex located at 747 Belden Ave. in Norwalk. Belden Square LLC purchased the newly renovated, 45,000-square-foot property, formerly the U.S. headquarters of Virgin Atlantic, from SG Belden LLC. The Cushman & Wakefield team of Al Mirin, Kate Schwartz, Matthew Torrance and Kathleen Fazio represented the seller. The buyer was self-represented.
CARTERET, N.J. — Bussel Realty has brokered the $5.1 million sale of a 55,560-square-foot industrial property located at 400 Federal Blvd. in Carteret. Leo Esses of Brussel Realty represented the unnamed buyer. 400 Federal Boulevard LLC was the seller. The property is located near Exit 12 of the New Jersey Turnpike, Port Newark/Elizabeth and Newark Liberty Airport. It features 24-foot clear heights, two drive-in doors for loading, 800 amps of electric power and 29 surface parking spaces.
Sitar Realty-TCN Worldwide Negotiates $3.1M Sale of Warehouse/Office Building in Wall Township, N.J.
WALL TOWNSHIP, N.J. — Sitar Realty Co.-TCN Worldwide has negotiated the $3.1 million sale of a 44,000-square-foot warehouse/office building located at 1325 Route 34 in Wall Township. 1325 Wall LLC was the seller and Chester Lieder was the buyer. Gregg Nowell and Doug Sitar of Sitar Realty were the brokers in the transaction.
EASTON, PA. — Cronheim Mortgage has secured $50.5 million in financing for Northampton Crossings, a 622,000-square-foot power center in Easton. The refinancing loan was structured with a 15-year fixed-rate, which was locked 11 months prior to closing. American General Life Insurance Co., The Variable Annuity Life Insurance Co., National Union Fire Insurance Co. and American Home Assurance Co. funded the loan. Northampton Crossings was constructed in 1995 and anchor tenants include Walmart, Sam’s Club, Kohl’s, Staples and a 14-screen Regal Cinemas. Inline tenants include Hobby Lobby, Lane Bryant, Starbucks, Sleepy’s, GameStop, Panera Bread, Sally Beauty Supply, GNC and Sears Hardware. Andrew Stewart, Dev Morris and Andrew Tsukamoto of Cronheim Mortgage originated the loan.
NEW YORK CITY — Marcus & Millichap has negotiated the $12 million sale of two vacant lots and a third lot with a warehouse building totaling 12,725 square feet at 814-826 Bedford Ave. in Brooklyn. Jakub Nowak and Jason Grunberg of Marcus & Millichap’s Brooklyn office represented the seller, Prezant Auto Glass, and procured the buyer, a private developer. The site is located near the Myrtle Avenue retail corridor, the Pratt Institute and G train subway stops. The three lots include 132 feet of frontage on Bedford Avenue and 100 feet of frontage on Park Avenue, and all are zoned for mixed-use development. The buyer plans to build a synagogue with a hotel or apartments above it.
WHITE PLAINS, N.Y. — Jeremiah Houlihan and James Coleman of Houlihan Parnes Realtors have secured a $2.3 million first mortgage loan for a medical office building located at 280 Mamaroneck Ave. in downtown White Plains. The three-story building contains a retail store, medical tenants, a self-service elevator and on-site parking for 60 cars. The 10-year loan features a 30-year amortization schedule and was placed with a savings bank. The lender charged no commitment fee and the loan includes sliding scale prepayment penalties.