COLCHESTER, VT. — Doug Nedde of Nedde Real Estate, along with Tracy Cresta, has acquired a 62,000-square-foot office and warehouse facility located at 784 Hercules Drive in Colchester. The vacant building, which was the former Reinhart Food Service building, sold for an undisclosed price. Planned Parenthood of Northern New England has leased the office portion of the property, leaving 47,000 square feet of warehouse space available for lease. The name of the seller was not released.
WILMINGTON, MASS. — Integrated Builders has completed a 29,000-square-foot office and manufacturing build-out for Limbach Company LLC at 46 Jonspin Road in Wilmington. The project included the installation of new flooring, lighting and electrical fixtures, a state-of-the-art HVAC system, partitions and updated fire alarms. The updated facility provides specialized manufacturing space for the mechanical contracting firm. Spagnolo Gisness & Associates Inc. served as architect, while WB Engineers+Consultants provided engineering services for the project.
OLD SAYBROOK, CONN. — The Geenty Group has brokered the lease of 2,299 square feet of space at a multi-tenant flex building located at 20 Research Parkway in Old Saybrook. Iterum Therapeutics US Limited, a biotech start-up firm, will occupy the space within the 20,000-square-foot property. Kevin Geenty of The Geenty Group arranged the transaction. The landlord is Mill Meadow Development LLC.
PLYMOUTH MEETING, PA. — Stream Capital Partners has brokered the $13.2 million sale-leaseback of Markel Corp.’s corporate headquarters. Located in Plymouth Meeting, the 166,667-square-foot industrial/flex building has served as Markel’s headquarters for more than 40 years. Markel is leasing the building back on a long-term absolute triple-net lease with periodic rental increases and multiple renewal options from the buyer, a private industrial group based in the Midwest. Jonathan Wolfe and Jordan Shtulman of Stream Capital represented the seller, Markel Corp., in the transaction.
HARRISBURG, PA. — New York-based TL Management has acquired Spring Creek Rehabilitation & Health Care Center, located at 1205 S. 28th St. in Harrisburg. The acquisition was funded in part by a $48 million credit facility arranged by First Niagara Bank. Spring Creek is a 404-bed rehabilitation and healthcare center features both short-term rehabilitation and long-term care facilities.
PROSPECT PARK, PA. — Rittenhouse Realty Advisors has arranged the sale of Colonial Park West Apartments, a 96-unit garden-style apartment property located at 211 Lazaretto Road in Prospect Park. Friedman Realty Group acquired the property from an undisclosed seller for $8.7 million. The buyer plans to renovate the property with upgrades to kitchens and bathrooms in each unit and the exterior. Ken Wellar and Corey Lonberger of Rittenhouse Realty Advisors brokered the transaction.
SALEM, MASS. — CBRE/New England has negotiated the sale of Jefferson at Salem Station, a garden-style apartment community located in Salem. Salem Station LLC sold the property to an affiliate of Bell Partners Inc. for an undisclosed sum. Built in 2002, the property features 266 market-rate apartments spread across five four-story elevator buildings and four two-story townhouse buildings. The units are a mix of one- and two-bedroom apartments and two-bedroom townhomes with an average size of 1,115 square feet. Community amenities include a great room, media room, business center, fitness center and an outdoor pool with sundeck and gas grills. Simon Butler and Biria St. John of CBRE/NE represented the seller in the transaction.
ASBURY, N.J. — Marcus & Millichap has arranged the sale of ABM Self Storage, a 59,562-square-foot self-storage facility located at 190 New Jersey Highway 173 in Asbury. A limited liability company acquired the asset for $4.6 million. Situated on 5.8 acres, the four-building property features 400 storage units. Anthony Asencio, Michael Mele, Ben Sgambati and Alan Cafiero of Marcus & Millichap’s New Jersey office represented the seller, a developer, and the buyer in the transaction.
PORTLAND AND SCARBOROUGH, MAINE — CBRE/New England and CBRE – The Boulos Company has arranged the sale of the Casco Bay Portfolio, a three-property multifamily portfolio located in Portland and Scarborough. An affiliate of Chestnut Realty Management acquired the assets from an affiliate of Resource Real Estate for $50.2 million. The 309-unit portfolio includes the 115-unit Tamarlane Apartments in Portland; the 104-unit Foxcroft Apartments in Scarborough; and the 90-townhome Coach Lantern Apartments in Scarborough. Simon Butler and Biria St. John of CBRE/NE, along with Joe Porta of CBRE – The Boulos Company, represented the seller and procured the buyer in the transaction.
NEW YORK CITY — Eastern Consolidated has brokered the sale of two multifamily properties located in the Chelsea neighborhood of Manhattan. Skyland Management LLC sold the properties to 117 West 15th Street LLC and 119 West 15th Street LLC for $27 million, or $1,085 per square foot. Totaling 25,330 square feet, the properties include a five-story walk-up at 117 W. 15th St. and a six-story walk-up at 119 W. 15th St. The assets feature a total of 40 units in a mix of studio, one-, two- and three-bedroom layouts. Steven Zimmerman and Gabriel Saffioti of Eastern Consolidated represented the seller and buyer in the transaction.