NEW YORK CITY — Kalmon Dolgin Affiliates Inc. (KDA) has arranged the $4.2 million sale of a 31,000-square-foot building at 83-14 72nd Drive in the Glendale neighborhood of Queens. Grant Dolgin and Dmitri Gourianov of Kalmon Dolgin Affiliates, along with Joseph Eliasoph of Sholom & Zuckerbrot represented the seller, Franco-American Novelty Co., in the transaction. Charles Wong from Greiner Maltz worked on behalf of the buyer, Utopia Produce Inc. The one-story warehouse at 83-14 72nd Drive features a 4,000-square-foot office as well as 4,600 square feet of land. The building has one drive-in door, 20-foot ceilings and gas heat.
Northeast
DANBURY, CONN. — Cushman & Wakefield has arranged the $4 million sale of 40-42 Old Ridgebury Road, also known as Pegasus Park, in Danbury. Cushman & Wakefield represented the seller, Torchlight Investors, in the sale to KS Partners, a New York-based developer and investor with offices in Woburn, Mass., and Rocky Hill, Conn. The sale price equates to $31.75 per square foot. Situated on more than seven acres, the site includes two three-story office buildings totaling almost 126,000 square feet and a three-level parking facility. The building is home to tenants such as General Electric and Shemin Nurseries. The buildings are currently 60 percent leased with 72,340 square feet of space remaining. Tom O’Leary, David Bernhaut, and Grace Braverman of Cushman & Wakefield’s Capital Markets Group arranged the sale.
BOSTON — Diamond Express Air Freight has signed a lease for 9,514 square feet at 230 McClellan Highway in East Boston near Logan International Airport. The five-building air freight park was 96 percent occupied at the time of the lease. Richard McKinnon of The Grossman Cos. represented the landlord, 230-240 McClellan Highway LLC, in the transaction.
WATERTOWN, MASS. — Wood Partners is constructing Alta at the Estate, a $40 million, 155-unit upscale apartment community on 11.6 acres in Watertown, a western suburb of Boston. The first units of the community are slated for delivery by late March. Designed by The Architectural Team, Alta at the Estate includes two four-story residential buildings and one two-story townhouse building. The clubhouse features a leasing office, clubroom, cyber-café and fitness center, along with private outdoor space that includes a pool, built-in grills and patio areas. The community features 81 one-bedroom units, 73 two-bedroom units and one three-bedroom unit as well as 256 parking spaces. All apartments will include vinyl plank flooring, granite countertops, stainless steel appliances and tile floors in the bathrooms.
AVENEL, N.J. — Cushman & Wakefield’s metropolitan area capital markets group has arranged the $29 million sale of five industrial buildings in Avenel, located about 13 miles south of Newark. TA Associates purchased the portfolio, which includes 329,000 square feet. The portfolio is located less than two miles off Exit 12 of the Turnpike, 20 minutes from the port and Newark Liberty International Airport and 25 miles from Midtown Manhattan. David Bernhaut, Andrew Merin, Gary Gabriel and Kyle Schmidt of Cushman & Wakefield arranged the sale.
WOODCLIFF LAKE, N.J. — Colliers International has arranged two separate long-term leases totaling more than 25,000 square feet at 123 Tice Blvd. in Woodcliff Lake. The leases bring occupancy from 70 percent to approximately 90 percent. In the first transaction, science and engineering company Anchor QEA will relocate from Montvale and occupy 12,988 square feet at the property. In the second transaction, SeaCube Container Leasing will relocate from Park Ridge, taking 12,420 square feet. Both tenants will occupy their new offices this summer. Jason Fray of Cushman & Wakefield represented Anchor QEA in the transaction. Harlan Hollander, also of Cushman & Wakefield, represented SeaCube Container Leasing in the transaction.
SUSSEX CO., DEL. — Two new retail businesses, Creative Floors and Wings-to-Go, have opened in Sussex County, located in southern Delaware. Creative Floors, a national flooring provider franchise, leased 1,886 square feet at the Vineyards at Nassau County on Old Vine Blvd. in Lewes. The new store is the second to open in Delaware with the other located in Newark. Wings-to-Go, a national buffalo chicken wings franchise, leased 1,560 square feet in Bayshore Plaza, a new shopping center anchored by Giant Foods in Millsboro. The store is the 10th to open in Delaware. Ann Bailey of NAI Emory Hill’s Lewes office represented the landlords in both transactions.
FAIRFIELD, CONN. — Regency Centers Corp. has closed on a $150 million, three-property acquisition in Fairfield. As previously reported in December, the company has acquired an 80 percent majority stake in a portfolio of centers — Black Rock Shopping Center, Brick Walk, and Fairfield Center — as a part of a joint venture with local real estate developer Kleban Properties. Together, the three centers feature 315,000 square feet of mixed-use space, with the retail portion representing 73.5 percent of portfolio revenues. The largest center, Brick Walk, boasts 121,000 square feet of retail, office and residential space. The 92,000-square-foot Fairfield Center is located one block from the Metro North rail station on the New Haven line into New York City. The third property, Black Rock Shopping Center, includes 98,000 square foot of retail space and is anchored by Old Navy, GAP, Massage Envy, and Carter’s stores. All properties are currently fully leased.
PHILADELPHIA — Harbor Group International has funded an $8 million mezzanine loan for the purchase of Charter Court Apartments in Philadelphia. An affiliate of Treetop Development purchased Charter Court, a 496-unit apartment property that includes two 11-story buildings, for $47.3 million. The multifamily community amenities include a resort-style pool area, business center, fitness center, pet spa and a doorman.
NEWTON, MASS. — Bierbrier Development Inc. has broken ground on Needham Street Village Shops, a 19,200-square-foot retail development located at 55 Needham St. in Newton. Needham Street Village Shops will be LEED Silver-certified and ready for occupancy by this summer. The retail center will also feature 79 parking spaces. Bowdoin Construction is serving as the general contractor, Prellwitz Chillinski Associates is the project architect and Atlantic Retail Properties is the leasing agent for the property.