MERIDEN, CONN. — Urstadt Biddle Properties has completed the disposition of Townline Square Shopping Center, located at 533 S. Broad St. in Meriden. A private real estate investment group acquired the 315,000-square-foot property for $44.5 million in an all-cash transaction. The property features more than 25 stores, including Michael’s, Pier 1 Imports, Marshalls, #1 Nails, Miracle-Ear, Ting Ho Restaurant, Once Upon a Child and GNC. Jim Koury of HFF represented the seller and procured the buyer in the transaction.
NEW YORK CITY — An elevator-serviced multifamily building, located at 100 Luquer St. in Brooklyn’s Carroll Gardens neighborhood, sold in an all-cash transaction for $21.1 million, or $947 per square foot. Crest Realties sold the property, which was constructed in 2011, to an undisclosed buyer. The 22,280-square-foot property features more than 20 residential units with floor-to-ceiling windows, direct elevator access into units’ living spaces and private outdoor spaces. On-site amenities include on-premise parking, storage locker space, a fully equipped gym and a private and shared roof deck. Stephen Palmese, Robert Shapiro and Winfield Clifford of Cushman & Wakefield handled the transaction.
BROCKTON, MASS. — Marcus & Millichap has brokered the sale of a net-leased Stop & Shop grocery store located at 932 N. Montello St. in Brockton. The 65,425-square-foot property sold for $18.7 million, or $286 per square foot. Eight years remain the Stop & Shop’s original Royal Ahold N.V.-guaranteed, 20-year double-net lease. Robert Horvath of Marcus & Millichap’s Boston office represented the seller and procured the buyer. The names of both parties were not released.
NEW YORK CITY — GFI Realty Services has arranged the acquisition of a mixed-use property located at 3750 Broadway in Manhattan’s Washington Heights neighborhood. A Miami-based investor purchased the property for $16 million from Monarch Realty Holdings LLC. The elevator building features 32 residential apartments and four ground-floor retail units. Ohad Babo of GFI Realty represented the seller, while Roni Abudi, also of GFI, represented the buyer in the transaction.
SYRACUSE, N.Y. — Par’s Indoor Golf has leased 6,435 square feet of retail space at 3179 Erie Blvd. within Dewitt Town Center in Syracuse. The family-owned-and-operated indoor golf center features six state-of-the-art golf simulators. The new location is slated to open at the end of October. Lindsey Forcione of The Icon Companies represented the tenant, while Grazi Zazzara, also of The Icon Companies, represented the undisclosed landlord in the transaction.
WAYLAND, MASS. — Zurich Asset Management has acquired Wayland Town Center, a mixed-use retail center in Wayland, from a joint venture between KGI Properties and J.P. Morgan Asset Management for $68 million. Anchored by Stop & Shop Supermarket, the 182,000-square-foot center also includes 17,000 square feet of medical office space occupied by Beth Israel DMC, Joint Ventures and a dental practice, and 12 apartment units, totaling 14,250 square feet. Additional retail tenants at the property include Boston Sports Club, Ace Hardware, Panera Bread and The Local. Bill Moylan, formerly of CBRE, negotiated the transaction.
NEW YORK CITY — Meridian Capital Group has arranged an $18.5 million refinance loan for two contiguous mixed-use properties located in East Harlem for principals Shawn Vahdat and Saba Vahdat on behalf of K&V Realty Corp. and 2109 First Avenue Realty Corp. The five-year loan, provided by Suffolk County National Bank, features a 3.1 percent fixed rate and a five-year extension option. Located at 2105 and 2109 First Ave., the two properties feature a total of 66 apartment units and 7,500 square feet of retail space. Isaac Filler of Meridian’s New York City headquarters negotiated the financing.
WINDSOR LOCKS, CONN. — Simon Property Group has submitted an application for rezoning with the Town of Windsor Locks Planning and Zoning Commission for the development of Hartford Premium Outlets. Located near the intersection of Route 20 and I-91 on Old Country Road, the first phase of the outlet center will consist of 350,000 square feet of retail space, a Market Hall of dining options and two notable restaurants on outlots. The architectural style of the center will be inspired by Classic Colonial and Connecticut rural architecture with a village-like setting reminiscent of a Windsor Locks community. Additionally, the shopping center will feature fountains, art, a children’s play area and an outdoor fireplace. Construction is slated to begin this fall, with a grand opening scheduled for 13 months after the start of construction.
NEW YORK CITY — TerraCRG has brokered the sales of two mixed-use properties in Brooklyn for a combined $10.5 million. In the first deal, a Manhattan ownership group acquired 3901 Fifth Avenue in Brooklyn’s Sunset Park area for $3.2 million, or $540 per square foot, from a Brooklyn family. The three-story, 6,000-square-foot property consists of four ground-floor retail spaces, three apartments and one office space. In the second transaction, a property located at 6901 Fifth Avenue in Brooklyn’s Bay Ridge neighborhood sold for $7.3 million, or $455 per square foot. The 10,248-square-foot property is currently occupied by Bank of America and features more than 7,000 square feet of available air rights. Adam Hess, Sam Shalumov, Edward Setton, Kirill Galperin and Amanda Keller were the sole brokers in both transactions.
ISLANDIA, N.Y. — Starbucks Coffee has opened a new location at the northwest corner of Long Island Expressway North Service Road and Old Nichols Road in Islandia. The 1,860-square-foot location occupies the drive-thru end cap of a 7,773-square-foot building. Wilbur Breslin and Robert Delavale of Breslin Realty arranged and negotiated the transaction with the landlord. The Breslin team also negotiated the drive-thru approvals with the Village of Islandia.