Northeast

Broadstone Net Lease Acquires Two Office Properties in Pennsylvania for $54.6M

by Amy Works May 3, 2016

HARRISBURG AND HARLEYSVILLE, PA. — Broadstone Net Lease (BNL) has acquired two office buildings tenanted by Nationwide Mutual Insurance Co. via a sale-leaseback transaction for a combined purchase price of $54.6 million. Located in Harrisburg and Harleysville and totaling 385,000 square feet, the mission-critical properties are tenanted under one master lease for an initial term of 12 years. Steve Marzullo, Justin Marlowe, Adam Silverman, Doug Jackson, Jeremy Shyk and Michael Curran of CBRE represented the seller, Nationwide, while Tones Vaisey PLLC represented BNL.

May 3, 2016

Connecticut Industrial Northeast

Colliers Arranges Sale of Industrial Building in Connecticut for $8.3M

by Amy Works May 3, 2016

GREENWICH, CONN. — Colliers International has arranged the sale of a historical industrial building located at 330 Railroad Ave. in Greenwich. 330 Railroad Avenue LLC, a partnership between Rich Granoff and Jeff Mendell, acquired the property for $8.3 million. The buyer is planning a complete renovation and repositioning of the building by converting the Depression Era-built industrial asset into a boutique high-end office building with approximately 30,000 square feet of office space. Granoff Architects will be the anchor tenant of the renovated property. Jeff Williams, Enzennio Mallozzi and Hollis Pugh of Colliers represented the buyer and undisclosed seller in the deal.

May 3, 2016

Industrial New Jersey Northeast

The Stro Companies Acquires Three-Building Industrial Portfolio in New Jersey for $7M

by Amy Works May 3, 2016

TETERBORO AND NORTHVALE, N.J. — The Stro Companies has acquired a three-building industrial portfolio totaling 95,000 square feet for $7 million. The portfolio includes a three-unit, 27,000-square-foot flex industrial property located at 370 North St. in Teterboro; a three-unit, 50,000-square-foot flex industrial property located at 235 Pegasus Ave. in Northvale; and a single-tenanted, 18,000-square-foot industrial building located at 245 Pegasus Ave. in Northvale. The Teterboro property is fully occupied and 235 Pegasus Avenue is 80 percent occupied, with the majority of the building being leased to Deluxe Media. Lori Zuck and Alex Previdi of Transwestern brokered the transaction. The name of the seller was not disclosed.

May 3, 2016

Industrial Massachusetts Northeast

The Hampshire Companies Sells 248,500 SF Industrial Facility in Massachusetts

by Amy Works May 2, 2016

NORTH ANDOVER, MASS. — The Hampshire Companies has completed the sale of an industrial building located at 351 Holt Road in North Andover. Atlantic Management Corp. acquired the 248,500-square-foot property for an undisclosed price. At the time of sale, the property was fully leased by, but no longer occupied by, Solo Cup Co. Situated on 27.7 acres, the facility features 26-foot ceiling heights, eight tailboard doors, three drive-in doors, two rail-car doors, 150 automobile parking spaces, 30 trailer parking spaces and 9,000 square feet of office space. Mark Reardon, Bruce Lusa and David Corkey of CBRE represented the seller in the transaction.

May 2, 2016

New York Northeast Office

Cushman & Wakefield Brokers $22M Sale of Vacant Loft Building in Tribeca

by Amy Works May 2, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a five-story loft building located at 51 White St. in Tribeca. 51 White Street LLC acquired the property from R.A Cohen & Associates for $22 million, or $1,064 per square foot. The 20,670-square-foot building features 12.5-foot ceiling heights, oversized windows and a sub-cellar, as well as a roof top with views of the Empire State Building and One World Trade Center. At the time of acquisition, the property was vacant. James Nelson, Will Suarez and David Shalom of Cushman & Wakefield represented the seller, while David Friedman of Vertex Realty Group represented the buyer.

May 2, 2016

Industrial New York Northeast

Besen & Associates Closes $14M Sale of Industrial Warehouse Building in South Bronx

by Amy Works May 2, 2016

NEW YORK CITY — Besen & Associates has arranged the sale of an industrial warehouse building located at 780 E. 135th St. in the Mott Haven neighborhood of the South Bronx. An undisclosed buyer acquired the six-story property for $14 million, or $165 per square foot. Built in 1912, the building features 84,650 square feet of industrial warehouse space. Ronnie Shaban of Besen & Associates represented the undisclosed seller and procured the buyer.

May 2, 2016

Multifamily New Jersey Northeast

Marcus & Millichap Arranges $2.8M Sale of Apartment Building in New Jersey

by Amy Works May 2, 2016

PATERSON, N.J. — Marcus & Millichap has brokered the sale of Oak and Redwood Apartments, located at 441-443 10th Ave. and 374-376 10th Ave. in Paterson. A private investor acquired the asset for $2.8 million. Located within three blocks of each other, the two three-story walk-up properties feature a total of 34 apartment units. Brian Hosey led the Marcus & Millichap team that represented the seller, a private investor, and secured the buyer in the deal.

May 2, 2016

Industrial New Jersey Northeast

NAI Hanson Negotiates 105,097 SF Industrial Lease in New Jersey

by Amy Works May 2, 2016

BAYONNE, N.J. — NAI James E. Hanson has arranged the lease of 105,097 square feet of industrial warehouse space at 99 Hook Road in Bayonne. Tramo@Home, a fine furniture and antique transportation company, will relocate to the space from 51 Hook Road. The 500,166-square-foot industrial facility features 24-foot ceiling heights, 100 trailer spaces and 31 loading spaces. Tom Vetter and Jeff DeMagistris of NAI Hanson represented the tenant in the transaction.

May 2, 2016

Loans New York Northeast Retail

Cronheim Mortgage Secures $92.5M Loan for 807,000 SF Power Center in New York

by Amy Works April 29, 2016

MIDDLETOWN, N.Y. — Cronheim Mortgage has secured $92.5 million in financing for Orange Plaza, a power center located at the corner of Route 211 and Dunning Road in Middletown. The borrower is National Realty and Development Corp. The 10-year loan features a 30-year amortization and was funded by American General Life Insurance Co., The United States Life Insurance Co., National Union Fire Insurance Co. of Pittsburgh and American Home Assurance Co. After acquiring the property in 2001, the borrower began a four-year repositioning program at the 807,000-square-foot center that included the demolition of approximately 600,000 square feet of enclosed mall space and the creation of a stacked layout and outparcels. Current tenants include Walmart, Kohl’s, Burlington Coat Factory and The Home Depot. Andrew Stewart and Dev Morris of Cronheim arranged the financing for the borrower.

April 29, 2016

Healthcare New Jersey Northeast

The Rockefeller Group to Develop 130,000 SF Cancer Center in New Jersey

by Amy Works April 29, 2016

FLORHAM PARK, N.J. — The Rockefeller Group plans to develop a 130,000-square-foot, state-of-the-art cancer center treatment facility at The Green at Florham Park, a 268-acre, master-planned development in Florham Park. The facility is being developed in partnership with Summit Medical Group and Houston-based University of Texas MD Ander Cancer Center, which recently signed a long-term lease at the property. The Rockefeller Group expects to break ground this summer on the facility. Summit Medical Group, which occupies a 100,000-square-foot medical office building at The Green at Florham Park, is New Jersey’s largest multi-specialty physician group with more than 600 practitioners in 67-plus locations throughout central and northern New Jersey.

April 29, 2016

Newer Posts

Older Posts

Upcoming Events

Aug
06