NEW YORK CITY — A partnership between Adam America, Slate Property Group and China Vanke has acquired a development site, located at 10 Nevins in downtown Brooklyn, for $50 million. The site is approved for plans to develop a mixed-used project with 184 residential units and ground-floor retail space. Ofer Cohen and Melissa Warren of TerraCRG were the sole brokers in the transaction. The name of the seller was not released.
EDISON, N.J. — Mack-Cali Realty Corp. has acquired an office building located at 333 Thornall St. within Metropark in Edison. The 196,000-square-foot property, known as Metroview, sold for $53.1 million; the name of the seller was not disclosed. The company plans to integrate its existing building at 343 Thornall St. with the new acquisition through the construction of an interconnected, landscaped walkway, to create an approximately 400,000-square-foot campus. On-site amenities include a terraced, outdoor seating area and exercise components. The building was 96 percent leased at the time of sale.
JERSEY CITY, N.J. — Onyx Equities and Rubenstein Partners has completed the $20 million renovation of 30 Montgomery Street in Jersey City. The 15-story, 320,000-square-foot building has been transformed into a state-of-the-art, Class A property with an additional 8,000 square feet of retail space. Improvements include a complete replacement of windows, a high-efficiency HVAC system, installation of a backup generator, a new executive conference center, modern finishes in the common areas and the addition of a ground-level, urban retail amenity, which includes a 15-foot vaulted ceiling at the front entrance and possible outside, café-style seating. Vericon Construction served as the lead contractor, while Environetics designed the building’s new features as the architect of record for the project, which took 11 months.
ASBURY, N.J. — Compass Self Storage, a member of the Amsdell family of companies, has acquired a self-storage property located at 190 Route 173 West in Asbury for an undisclosed price. The property, which offers more than 64,000 net rentable square feet, features drive-up access, indoor climate-controlled units, digital surveillance, electronic access, online payments, truck rental and a full line of moving and packing supplies. Compass Self Storage has an improvement package planned for the property, including upgrading the interior sales office, rebranding the signage and adding additional lighting to the property. Operated by Compass Self Storage LLC, the property is the company’s 60th store opened under the Compass flag and its fifth location in New Jersey. The acquisition was made by separate affiliates of Cleveland, Ohio-based Amsdell Group LLC and Compass Self Storage LLC. The name of the seller was not released.
PORTLAND, MAINE — Sperry Van Ness International Corp. has added a franchise office in Portland. Led by Erik Urbanek, Sperry Van Ness/The Urbanek Group will focus on providing comprehensive brokerage and development services for commercial properties in Northern New England and beyond. Urbanek brings more than 10 years of sales and leasing experience throughout the Maine commercial real estate market to Sperry Van Ness.
NEW YORK CITY — Eastern Consolidated has arranged $22 million in bridge financing for developers Slate Property Group and Meadow Partners to acquire a development site at 570 Fulton St. in downtown Brooklyn. The financing package includes a $15 million first mortgage from Bank of the Ozarks and $7 million of mezzanine debt from RCG Longview. The developers plan to build a mixed-use project on the site, which is zoned for 72,000 buildable square feet as-of-right. Purchased from SCO Family Services, the site includes a 26,395-square-foot, three-story building with ground-floor retail and offices on the upper floors. The existing structure was delivered vacant. Adam Hakim, Sam Zabala and James Murad of Eastern Consolidated handled the financing.
MIDDLETOWN, PA. — Allen Distribution, a third-party logistics service provider, has signed a lease for 321,333 square feet at 100 Capital Lane within Capital Logistics Center in Middletown. The property features an adhered EPDM (ethylene propylene diene terploymer) roof, seven-inch unreinforced concrete floor with 54 doors with 33 knockout panels. Situated on more than 100 acres, the six-building, 1.5 million-square-foot Capital Logistics Center was recently renovated. A joint venture between Woodmont Industrial Partners and AEW Capital Management owns the logistics center. Kim Meincke and Jason Webb of Jones Lang LaSalle represented the tenant, while Michael Hess, Patrick Lafferty and Bart Anderson of CBRE represented Woodmont Industrial Partners in the transaction.
NEW YORK CITY — National Cooperative Bank (NCB) originated more than $60 million in new loans during October for 21 New York area properties. Harley Seligman secured $23.2 million in new financing, including a $13.5 million first mortgage and a $1 million line of credit for Maple Plaza Housing Development Fund Corp., a 154-unit co-op at 1911-1929 Madison Ave. in Manhattan. Seligman also arranged $3.4 million in financing for Tara Close Apartments Corp., a 99-unit co-op at 77 Carpenter Ave. in Mount Kisco, N.Y.; and he arranged a $1 million first mortgage and $800,000 line of credit for Gramatan Court Apartments Inc., a 27-unit co-op at 23-25 Sagamore Road in Bronxville, N.Y. Edward Howe III arranged nearly $22 million in loans, including a $7 million first mortgage and $500,000 line of credit for an 84-unit co-op at 711 Shore Road in Long Beach, N.Y.; a $4 million first mortgage and $500,000 line of credit for Linden Hill No. 2 Cooperative Corp., a 384-unit co-op at 142-14/142-20 26th Ave. in Flushing; and a $4 million first mortgage and $1 million line of credit for Grinnell Housing Development Fund Corp., an 81-unit co-op at 800 Riverside Drive in Manhattan. Additionally, Mindy Goldstein arranged …
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a multifamily property located at 267 Ninth St, between Fourth and Fifth avenues in Brooklyn’s Park Slope neighborhood. The four-story building sold for $3.4 million, or $514 per square foot, in an all-cash transaction. The 6,612-square-foot property features eight rent-stabilized apartments. Aaron Warkov and Winfield Clifford of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.
HAMILTON, HAMPTON, PARAMUS AND LODI, N.J. — The Goldstein Group has closed four separate retail leases, totaling 43,724 square feet, in New Jersey. In the first transaction, Matthew Flath and Lew Finkelstein of The Goldstein Group represented the landlord and tenant, Kiddie Academy, in an 8,500-square-foot lease at Buckley Plaza on Route 130 in Hamilton. In the second deal, Neil Goldstein of The Goldstein Group represented the landlord in the lease of 20,000 square feet at Ames Shopping Center on Route 206 in Hampton to Staples. In Paramus, Goldstein also represented the landlord in the lease of 12,700 square feet at 45 Eisenhower Drive to Lightbridge Academy. In the final transaction, CJ Hunter and Finkelstein represented the landlord in the lease of 2,524 square feet at 150 Main St. in Lodi to Pet Valu. The names of the landlords were not released.
