STAMFORD, CONN. — CBRE has arranged the sale of Newfield Green, a shopping center located in Stamford. Urstadt Biddle Properties acquired the property from Hoffman Investment Partners for $45.3 million. The 71,588-square-foot grocery-anchored center is more than 60 percent occupied by Grade A Market and CVS/pharmacy. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller and procured the buyer in the deal.
BOSTON — GLL Real Estate Partners has completed the disposition of a mixed-use building located at 70 Franklin St. in Boston. Deka acquired the 85,977-square-foot property for $42.1 million. At the time of sale, the building was 91 percent leased to eight tenants, including TIAA-CREF, Jos. A. Bank and Papyrus. Robert Griffin, Edward Maher and Matthew Pullen of Newmark Grubb Knight Frank represented the seller in the transaction.
WEST DEPTFORD, N.J. — WinnCompanies has acquired and repositioned a market-rate apartment community located in West Deptford. Rebranded as Cove at RiverWinds, the property features 199 units for adults who are age 55 and older. Built in 2009, the two-building community features an underground parking garage, a community room, an outdoor courtyard, on-site management office and a mix of 74 one-bedroom apartments, 121 two-bedroom units and four penthouse suites. Managed by WinnResidential, the property was formerly known as Rivercove Apartments. WinnCompanies acquired the property in April for an undisclosed sum. The name of the seller was not released.
CROMWELL, CONN. — CW Landmark Group has brokered the sale of Cromwell Commons, a retail center located at 136 Berlin Road in Cromwell. The Nugent Organization and J&V Ventures acquired the 114,000-square-foot property from Cromwell Commons RSK and MBMB Cromwell for an undisclosed price. Price Rite anchors the shopping center. Ralph Lewis and Daniel Bernardini of CW Landmark Group represented the buyer and seller in the deal.
PARSIPPANY, N.J. — Mack-Cali Realty Corp. has completed the sale of three office buildings located at 4, 5 and 6 Century Drive within Mack-Cali Business Campus in Parsippany. A partnership between Bergman Real Estate Group and Time Equities Inc. acquired the properties, which total 280,000 square feet, for $15 million. Built in 1981, the campus features a full-service cafeteria, excess parking and a courtyard with a fountain and picnic areas. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval of HFF represented the seller, while Michael Bergman and Michael Difede of Bergman Real Estate Group, along with Aaron Medeiros of Time Equities, represented the buyer in the transaction.
MARLBOROUGH, MASS. — Nordblom Co. has completed the disposition of two high-tech flex buildings located at 450 and 500 Donald Lynch Blvd. in Marlborough. Atlantic – Fulcrum Realty LLC, a joint venture between Atlantic Management Corp. and Fulcrum Real Estate Partners, purchased the properties for an undisclosed price. At the time of sale, the properties were 92 percent leased with only 9,521 square feet left available for lease at the 59,667-square-foot building at 450 Donald Lynch Blvd. The facility at 500 Donald Lynch Blvd. totals 62,224 square feet. Tenants at the two buildings include New England Cryogenics Center, SENKO Advanced Components and WaterSep BioSeparations Corp. The buildings are part of the 50-acre Solomon Pond Park, a 1 million-square-foot mixed-use development.
PATTERSON, N.J. — KeyBank Real Estate Capital has arranged $10 million in Fannie Mae financing for Broadway Towers, a high-rise apartment building in Patterson. Built in 1961, the property features 114 units and two ground-floor commercial spaces. Tom Peloquin of KeyBank arranged the loan, which was used to refinance existing debt. The name of the borrower was not released.
NEW YORK CITY — Bestreich Realty Group has arranged the sale of a five-building multifamily assemblage located at 255-265 Linden St. in Brooklyn. An undisclosed buyer acquired the property for $9.2 million. Totaling 34,900 square feet, the assets feature 39 apartment units. Derek Bestreich, Luke Sproviero and Steve Reynolds of Bestreick Realty Group represented the undisclosed seller and buyer in the deal.
NEW YORK CITY — Madison Realty Capital has signed a lease with Urban Soccer, an operator of indoor and outdoor competitive and recreation leagues in Europe, at Whale Square in Brooklyn’s Sunset Park. Urban Soccer will occupy 63,000 square feet of space on the third floor of the 500,000-square-foot mixed-use property. Madison Realty Capital acquired the property last summer and is currently redesigning and repositioning the property into commercial space designed for innovative and creative tenants. David Falk, Eric Cagner, Whitten Morris and Joseph Sipala of Newmark Grubb Knight Frank represented Madison Realty in the deal.
PITTSTON TOWNSHIP, PA. — Meridian Design Build has completed the construction of an automated package sorting and distribution center for developer Scannell Properties. Constructed on a design-build basis, the new facility is located on 59.1 acres in Pittston Township. The 304,317-square-foot building features 99 loading docks, 237 interior van loading positions, 593 auto parking stalls and 350 exterior trailer stalls. Additionally, the facility features 14,734 square feet of office space, a 2,940-square-foot gateway building and a 5,180-square-foot maintenance shop. Architectural services were provided by Precept Design and civil engineering services were provided by Kimley-Horn.
