CHAMBERSBURGH BOROUGH, YORK CITY AND MANCHESTER TOWNSHIP, PA. — ROCK Commercial has arranged three separate sales, totaling 46,187 square feet, in Pennsylvania. In the first transaction, Home Again Concepts purchased a 32,437-square-foot industrial building located at 77 N. Third St. in Chambersburgh Borough for an undisclosed sum. ROCK represented the undisclosed seller in the transaction. In the second deal, Beartrap Enterprises LLC acquired a 9,012-square-foot office building located at 274-280 W. Market St. in York City for an undisclosed price. ROCK represented the buyer and undisclosed seller in the transaction. In the final deal, Michelle Kreeger purchased a 4,738-square-foot office building located at 2241 W. Market St. in Manchester Township for an undisclosed price. ROCK represented the seller, whose name was not released, in the deal.
WALTHAM, MASS. — The Davis Companies has acquired two Class A office buildings, located at 1025 and 1075 Main St. in Waltham. An affiliate of KBS Real Estate Investment Trust Inc. sold the 303,460-square-foot asset for $52.5 million. Originally built in 1980, the property is currently occupied by Citizens Disability and The Cambridge Institute of International Education. On-site amenities include a cafeteria, fitness center and parking. HFF represented the seller and procured the buyer in the transaction. Additionally, HFF arranged a seven-year acquisition loan for the buyer through Brookline Savings Bank and First Niagara Bank. Coleman Benedict and Ben Sayles of HFF represented the seller in the deal. Riaz Cassum and Brett Paulsrud, also of HFF, led the HFF debt placement team for the financing. Gramercy Property Trust, as asset manager, advised KBS on the transaction.
LATHAM, N.Y. — Berkadia has closed a $15.4 million refinancing loan for Latham Crossing, a retail property located in Latham. The 10-year, fixed-rate loan, which was provided by a conduit lender, features a 30-year amortization schedule with 2 years of interest-only payments, a 75 percent loan-to-value ratio and 1.25 times debt-service coverage. Located at 609 Troy Schenectady Road, the 100,000-square-foot center is fully occupied by a variety of tenants, including PetSmart and Staples. John DiCrocco of Berkadia’s New York City office arranged the financing for the undisclosed borrower.
MELVILLE, N.Y. — NorthMarq Capital has arranged $10.8 million in refinancing for a 111,700-square-foot office building located at 425 Broad Hollow Road in Melville. The five-year loan features a 30-year amortization schedule. Ernest DesRochers and Charles Cotsalas of NorthMarq arranged the financing through a national bank for the undisclosed borrower.
EAST FREETOWN, MASS. — Marcus & Millichap has brokered the sale of Crossroads Common, a retail property located at 1 Chace Road in East Freetown. The 28,000-square-foot asset sold for $2.3 million. The property is occupied by a mix of local and regional tenants, including Crossroads Liquors, Subway and Bristol County Savings Bank. Laurie Ann Drinkwater, Seth Richard and Andrew Gilbert of Marcus & Millichap represented the seller, a local investor, and procured the buyer, a regional business owner, in the transaction.
NEW YORK CITY — Super Fi Emporium has purchased 12,000 square feet of retail space at HAP Investment’s residential building located at 2211 Third Ave. in East Harlem for an undisclosed price. The buyer plans to open a supermarket in the ground-floor retail space of the 120,000-square-foot rental project, which will feature 78,000 square feet of residential space, 12,000 square feet of commercial space, 5,000 square feet of parking and 700 square feet of community facility space. Faith Consolo, Joseph Aquino and Arthur Maglio of Douglas Elliman represented the seller, HAP Investment, and buyer in the transaction.
NEW YORK CITY — The Brodksy Organization has opened City Tower, the market-rate residential component of downtown Brooklyn’s City Point development, for leasing. Located at 10 City Point Place, the 48-story property features 440 studio, one- and two-bedroom residential units, beginning on the 20th floor. The units feature 5-inch wide oak plank flooring throughout the living areas and kitchens, custom cabinetry and recessed lighting in the kitchen. On-site amenities include more than 23,000 square feet of indoor and outdoor spaces, including a basketball court, health club, residents’ lounge with café, a green terrace on the 18th floor and a sky terrace on the 43rd floor. Additional amenities include a 24/7 doorman, bicycle storage and a business center. Designed by COOKFOX, the property is slated to achieve LEED Silver certification. Pricing starts at $2,450 per month for a studio, $3,000 per month for a junior one-bedroom, $3,300 per month for a one-bedroom and $4,500 per month for a two-bedroom apartment. City Tower is part of City Point, a 1.8 million-square-foot retail, commercial and residential property in downtown Brooklyn being developed by Washington Square Partners and Acadia Realty Trust.
STAMFORD, CONN. — ClearRock Properties, in partnership with Contrarian Capital Management, has completed the disposition of a three-building, 247,310-square-foot waterfront office complex in the South End of Stamford. ClearRock formed a partnership with Mountain Development Corp. and Gottesman Real Estate Partners to reacquire the assets for an undisclosed price. The complex includes the 89,637-square-foot former industrial property at 700 Canal St.; the 67,673-square-foot office building at 850 Canal St.; and the 90,000-square-foot office building, which includes 1,000 linear feet of dock space, at 860 Canal St. Andrew Merin, David Bernhart, Gary Gabriel and Thomas O’Leary of Cushman & Wakefield represented the seller in the transaction.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 1208 Nostrand Ave. in Brooklyn. The 7,128-square-foot asset sold for $2.2 million. Derek Bestreich, Erik Rodriguez and Seth Schiffman of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and secured the buyer, a limited liability company, in the transaction.
BLOOMFIELD, CONN. — Westbrook, Conn.-based Lyman Real Estate has brokered the sale of 21 acres of land at 2 Mucko Road, located at the corner of Woodland Avenue in Bloomfield. Vernon Hills, Ill.-based Deringer-Ney Inc. acquired the property for $850,000. The buyer develops precious metal alloys and precision components for the medical device, automotive, semiconductor, aerospace and appliance industries. Ron Lyman of Lyman Real Estate represented the sellers, Elizabeth Fernandez and Marie Mercaldi, in the transaction.