CHARLESTOWN, MASS. — Colliers International has arranged the sale of and secured financing for Bunker Hill Business Center in Charlestown. Located at 440 Rutherford Ave., the fully leased property offers 52,944 square feet of flex office space. TD Street LLC, an affiliate of Center Court Partners LLC, acquired the property for $14.7 million from New Canaan, Conn.-based Cambridge Hanover Inc. Colliers secured a $10.5 million fixed-rate acquisition loan for the buyer through LStar Capital Finance Inc., the credit affiliate of Lone Star Funds. Scott Dragos, Doug Jacoby, Tony Hayes and Tim Mulhall of Colliers represented the seller in the transaction. Kevin Phelan and Jeff Black led the Colliers debt placement team.
Northeast
WILLINGBORO, N.J. — Delco Development LLC has completed the sale of Willingboro Town Center South, a retail shopping center located at 4364 US 130 in Willingboro. Circle F Capital purchased the 29,246-square-foot property free and clear of existing debt for $7.8 million. Situated on four acres, the center is 93.7 percent leased to a variety of tenants including Ruby Tuesday, Rita’s, Bagel Café, Credit Union of New Jersey, Verizon, GNC, Subway, Hardee’s, Panda Garden, Hair Cuttery, Nail Splash and The Laundry Experience. Chris Munley and Jose Cruz of HFF represented the seller in the transaction.
Cushman & Wakefield Brokers Sale of 40-unit Apartment Building on Long Island for $6.3M
by Amy Works
HEMPSTEAD, N.Y. — An undisclosed buyer has acquired an apartment building located at 148 Greenwich St. in Hempstead. The 40-unit asset was sold for $6.3 million, or $127 per square foot, in an all-cash transaction. Built in 2006, the 49,952-square-foot property features a mix of studio, one-bedroom and two-bedroom units. Each unit features updated kitchen appliances, finishes and a private balcony. On-site amenities include a meeting room and a storage room. Daniel Abbondandolo and Benjamin Efraimov of Cushman & Wakefield brokered the transaction. The name of the seller was not released.
WEST GOSHEN TOWNSHIP, PA. — Swope Lees Commercial Real Estate has brokered the sale of an industrial flex building located at 909 Camaro Run Drive in West Goshen Township for an undisclosed sum. The property features two loading docks, ample parking and space for a 3,000-square-foot expansion. Frank Lamarr of Equitrust LTD and Jim Lees of Swope Lees arranged the sale. The names of the seller and buyer were not released.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 30 Huntington St. in Brooklyn. The six-unit property sold for $1.4 million. Shaun Riley, Derek Bestreich and Adam Lobel of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both limited liability companies, in the transaction.
WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured $74.2 million in first mortgage financing for a lab/biotech facility located at 830 Winter St. in Waltham, a western suburb of Boston. HFF arranged the floating-rate loan with Wells Fargo while working on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII. Completed in 2001, the 182,104-square-foot facility is fully leased to ImmunoGen, GlaxoSmithKline and Histogenics Corp. Greg LaBine of HFF represented the borrower in the financing transaction.
MIDDLEBOROUGH, MASS. — Calare Properties has acquired three industrial properties located within the Campanelli Business Park in Middleborough for $25.3 million from Campanelli. Totaling 273,000 square feet, the portfolio includes 16 Leona Drive, 19 Leona Drive and 139 Campanelli Drive. The 80,000-square-foot property at 16 Leona Drive features 21-foot clear heights and is 100 percent leased to IDEX Health & Science. The 108,000-square-foot facility at 19 Leona Drive is fully occupied by Sager Electronics, a subsidiary of TTI Inc., a Berkshire Hathaway Inc. company. Finally, the 85,000-square-foot property at 139 Campanelli Drive is 100 percent leased to Stop & Shop Supermarket.
LONG ISLAND AND DIX HILLS, N.Y. — NorthMarq Capital has arranged $12.9 million in financing for a four-property retail portfolio in Suffolk County, Long Island, and a retail plaza in Dix Hills. In the first transaction, the four-property portfolio in Suffolk County was refinanced for $4.4 million. The portfolio contains a combined 131,500 square feet of retail space. NorthMarq arranged a fully amortizing 18-year loan through its correspondent relationship with a life insurance company. In the second transaction, the company arranged $8.5 million in refinancing for Dix Hills Plaza, a 51,820-square-foot retail property located at 1815-1819 E. Jericho Turnpike in Dix Hills. NorthMarq structured a 9-year term with a 25-year amortization schedule through its relationship with a local bank for the borrower. Ernest DesRochers and Charles Cotsalas of NorthMarq Capital secured the financing in both transactions.
GREENWICH, CONN. — Allied Property Group has brokered the sale of an office building located at 88 Field Point Road in Greenwich. Field Post Associates LLC acquired the 11,300-square-foot property for $8.4 million from Fairstone Properties LLC. Thomas Torelli of Allied Property Group represented both parties in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a 16,000-square-foot apartment building located at 5201 Clarendon Road in Brooklyn. The 17-unit property sold for $2.8 million. Derek Bestreich, Erik Rodriguez and Lucien Sproviero of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a limited liability company, in the transaction.