NEW YORK CITY — Marcus & Millichap has brokered two separate sales in Brooklyn totaling $4.4 million. Private investors acquired 764 Metropolitan Avenue, a 2,500-square-foot land parcel in Brooklyn, for $2.2 million. In the second transaction, a different group of private investors purchased 69 Havemeyer Street, an 8-unit multifamily property in Brooklyn, for $2.2 million. James Saros, Michael Salvatico and Shaun Riney of Marcus & Millichap’s Brooklyn office represented the buyers and sellers in both transactions.
Northeast
BOSTON — Integrated Interiors has completed an office installation for Gilbane Building Company’s new headquarters at 10 Channel Center in Boston’s Innovation District. The renovation includes 390 linear feet of prefabricated office and conference fronts for the new 22,000-square-foot space. The project team includes Gilbane as owner and construction manager, Gensler as architect, and Cosentini as M/E/P engineer. Additionally, Environments at Work provided furniture for the new space.
HENRIETTA, N.Y. — NorthMarq Capital has arranged $20.5 million in refinancing for Westbrooke Commons, a multifamily property in Henrietta. Located at 6 Loden Lane, the property offers 340 apartment units. The loan has a 10-year term and a 30-year amortization schedule. Robert Ranieri of NorthMarq secured the financing through its seller/servicer relationship with Freddie Mac for the borrower, Westbrooke Associates.
HOWELL, N.J. — Iselin, N.J.-based Sitar Realty Company-TCN Worldwide has announced that BJ’s Warehouse will be joining The Grove at Howell, which is currently under construction. Located on a 52-acre tract along Route 9 and Lanes Mills Road in Howell, the 350,000-square-foot shopping center will offer a mix of clothing, food and entertainment options. The 88,000-square-foot BJ’s Warehouse, which will also include a gasoline station, is slated to open in November. Additional tenants at the project will include a 50,000-square-foot, 14-screen national cinema and a 40,000-square-foot national fitness club, along with other national clothing and food chains. The project is expected to be fully complete by June 2015. New York City-based Sun Equity Partners purchased the future site of BJ’s Warehouse out of foreclosure last summer. Sitar Realty Company-TCN Worldwide is the leasing agent for the property.
ASTON, PA. — Chattanooga, Tenn.-based Chestnut Development Partners and White Plains, N.Y.-based Benbrooke Realty Investment Company have invested in Dutton Mill Shopping Center in Aston. Located approximately 20 minutes from downtown Philadelphia, the 76,000-square-foot property was once anchored by a Shop-N-Bag, a regional grocery store. Chestnut and Benbrooke plan to use the vacant retail space an opportunity to redevelop and market the shopping center to national and regional retailers. This transaction is Chestnut’s ninth investment since November 2012.
BOSTON — CBRE/New England’s Capital Markets team has completed the refinance of an $8.5 million construction loan for a recently built apartment community in South Boston. Completed earlier this year, the 24-unit multifamily community consists of one four-story building with 30 covered garage parking spaces, a private roof deck and a private balcony for each unit. John Kelly of CBRE/NE worked on behalf of the borrower to arrange the permanent financing.
PARAMUS, N.J. — Direct Travel has signed a lease for 16,500 square feet of space at Paramus Corporate Center in Paramus. The tenant plans to relocate its regional headquarters from Mahwah, N.J., to the 115,000-square-foot office property, which is located on Route 17, this summer. Rich Mirliss and Anthony Rinaldi of Colliers International represented the tenant in the transaction, while Jeffrey Prezant of Cushman & Wakefield represented the landlord, Gabrellian Associates, in the transaction.
BUFFALO, N.Y. — Williamsville, N.Y.-based Ciminelli Real Estate Corp. has topped off Conventus, a seven-story medical office building located at 1001 Main St. in Buffalo. Situated on the Buffalo Niagara Medical Campus, the 350,000-square-foot building is scheduled for completion in spring 2015. Located at the Northern Gateway to the medical campus, the building will be physically connected via enclosed walkways to the new John R. Oishei Children’s Hospital, the new University at Buffalo School of Medicine and Bioinformatics, and the University at Buffalo Research Institute on Addictions. Tenants will include Kaleida Health, UBMD, AMRI and First Niagara Bank.
NEW HAVEN, CONN. — C. Cowles & Co. has acquired a manufacturing/warehouse facility located at 100 Kenna Dr. in North Haven from The Freedom Group Family of Companies for an undisclosed price. Situated on 23.5 acres, the 226,000-square-foot warehouse/manufacturing property offers 206,000 square feet of manufacturing space and 20,000 square feet of office space. Built in the 1960s, the facility also features 18-foot clear ceiling heights, 40- by 40-foot column spacing and a wide-open floor plan. The buyer, a precision metal stamping company, plans to consolidate two business units in one facility. Jim Panczykowski of Binswanger’s New Haven office handled the transaction.
SOUTH BRUNSWICK, N.J. — Colonna Brothers Inc. has acquired 319 Ridge Road in South Brunswick for an undisclosed price. The 121,361-square-foot industrial facility features sections of 20- to 30-foot high ceilings, 42- by 42-foot column spacing, 17 tailboards and one drive-in. Mark Tannen of United Realty Advisors represented the buyer, while Robert Sager and David Blitt of Bussel Realty Corp. represented the seller, 319 Ridge Road Associates LLC, in the transaction.