NORWOOD, MASS., EAST ISLIP, N.Y., AND GREENSBURG, PA. — Horvath & Tremblay has arranged the sales of three retail assets in Norwood, East Islip and Greensburg. The firm facilitated the $1.9 million sale of a leasehold interest of TD Bank in Norwood and the $1.5 million sale of a leasehold interest of a TD Bank in East Islip. Bob Horvath, Todd Tremblay and Peter Butler of Horvath & Tremblay represented the undisclosed seller and procured the undisclosed buyer. Additionally, Horvath & Tremblay arranged the $2.1 million sale of an Applebee’s restaurant located at the Westmoreland Mall in Greensburg. Mark Brockwell, Bob Horvath and Todd Tremblay represented the undisclosed seller in the deal.
NORTH HAVEN, CONN. — O,R&L Commercial has arranged two leases at Universal Business Center, located at 222 Universal Drive in North Haven. In the first lease, Contract Callers Inc. has leased 10,200 square feet of office space at the business center. Frank Hird of O,R&L represented the landlord, Branco Inc., while Sandy Strickling of Broder Commercial represented the tenant. In the second lease, Z-Medica signed for 8,468 square feet of space at the business center. The medical device company develops hemostasis products. Hird represented the landlord, Branco Inc., while Jillian Moruzzi of CW Landmark represented the tenant.
WHITE PLAINS, N.Y. — HarborView Properties has purchased The Residences at Tarryhill, an apartment community located at 100-600 Tarryhill Way in White Plains. Situated on eight acres, the property features six three-story buildings offering a total of 87 apartments in a mix of one- and two-bedroom units. On-site amenities include a community room, sports courts, playground and parking for 170 cars. Tarryhill Management Co. will manage the property, which was acquired in an off-market transaction for an undisclosed price.
NEW YORK CITY AND WEST DEPTFORD, N.J. — Ready Capital Structured Finance has closed two non-recourse loans totaling $12.3 million in Brooklyn and West Deptford. In the first transaction, Ready Capital closed a $7.9 loan for the acquisition, renovation and conversion of a 12,000-square-foot private residence into a six-unit condominium residence at 277 First St. in Brooklyn’s Park Slope neighborhood. Simultaneous with the closing, the undisclosed sponsor acquired 2,000 square feet of air rights through an adjacent parcel to reclassify the additional square footage. The interest-only loan includes an 18-month term with one extension option and a flexible prepayment feature. In the second transaction, the company closed a $4.4 million loan for the acquisition, renovation and stabilization of a 106,000-square-foot industrial and office building located at 301 Grove Road in West Deptford. The undisclosed borrower is renovating the property to increase the industrial space by demolishing the second story office space and removing drop ceilings. The interest-only loan includes a 24-month term with one extension option and a flexible prepayment feature.
WYCKOFF, N.J. — Inserra Supermarkets has started demolition at the site for the planned ShopRite of Wyckoff at the corner of Greenwood and Wyckoff avenues. The 62,042-square-foot grocery store is slated to open in November 2017. The building design reflects the historic character and architecture of the surrounding commercial and residential buildings.
CARLSTADT, N.J. — Water-Jel Technologies has renewed its 109,410-square-foot lease at 50 Broad St. in Carlstadt. The burn-care product manufacturer uses the space as its headquarters and production facility. John Donnelly of Colliers International represented Water-Jel in the long-term lease renewal. The property is owned by Prologis.
BRIDGEWATER, N.J. — Allstate Insurance Co. has leased an entire 63,000-square-foot office building at CenterPointe I, located at 1130 Route 22 East within CenterPointe at Bridgewater in Bridgewater. The four-building corporate park features 331,846 square feet of office space. Susan Mason, Robert Ryan and John Buckley of JLL, in collaboration with Michael Gribbon of American Real Estate Partners, represented the landlord, American Real Estate Partners, while Edward DaCosta and John Morris III of CBRE represented the tenant.
NEW YORK CITY — PCCP LLC has provided a $47.1 million senior loan to a joint venture between Onyx Equities and KBS Capital Advisors for the development of a retail building located at 210 W. 31st St. in Manhattan’s Penn Plaza submarket. Construction is expected to begin in mid-2017 on the two-story, 30,000-square-foot building, with completion slated for mid-2018. The joint venture is finalizing conceptual plans and drawings for the multi-tenant property.
CROTON-ON-HUDSON, N.Y. — NorthMarq Capital has arranged $16 million in refinancing for Springvale Apartments, an age-restricted multifamily property located on Skytop Drive in Croton-on-Hudson. The property features 524 units for residents age 55 or older. The transaction was structured with a 15-year term on a 30-year amortization schedule. Robert Ranieri of NorthMarq arranged the financing for the undisclosed borrower through NorthMarq’s seller/servicer relationship with Freddie Mac.
MORRISTOWN, N.J. — Woodmont Properties and Roseland Residential Trust have commenced construction for Metropolitan Lofts, a luxury apartment building located at 11 Dehart St. in Morristown. The building will feature 59 units in a mix of one- and two-bedroom apartments and 1,100 square feet of ground-level retail space. On-site amenities include a fitness center and golf simulator. The building is the final component of a mixed-use redevelopment project that combines residential space with 53,000 square feet of retail space at the Shops on the Green and a 795-car public parking facility.