NEW YORK CITY — KZA Realty Group Inc. (KZA) has brokered three commercial real estate deals in the Bronx for a combined total of $3.7 million. KZA represented both seller and buyer in each of the transactions. Uzi Shvut of 699 MP Realty LLC purchased a 21,850-square-foot retail strip center at 699-723 Morris Park Ave. from 699 Morris Park Avenue Corp. for $2 million. At 33 West Tremont Ave., Brightside Academy leased 7,272 square feet of daycare space and 1,500 square feet of outside play area from landlord Atlantic Development. Rent for the initial 10-year term will total $1.6 million. At 1468 Williamsbridge Road, Yonkers Contracting leased 2,500 square feet of second floor office space from landlord Bronx Home.
CLIFTON, N.J. — Glass manufacturer Pilkington North America Inc. has leased 11,000 square feet at 125 Kingsland Ave. in Clifton. The new location is one of nearly 100 Pilkington automotive glass replacement facilities in the United States. Pilkington North America manufactures and markets glass and glazing products for both the automotive and architectural markets. The new Clifton facility will serve customers in a radius of approximately 50 miles, according to Bill Waldron of Pilkington. 1913 Realty Associates owns the building at 125 Kingsland Ave. Andrew Somple of NAI James E. Hanson represented the landlord. Cushman & Wakefield represented Pilkington in the transaction.
LATHAM, N.Y. — Cronheim Mortgage has arranged $9.3 million in financing for Mountainview Terrace, a 128-unit apartment community in Latham, a northern suburb of Albany. The 10-year loan includes a 30-year amortization schedule and a fixed interest rate. Dev Morris and Andrew Stewart of Cronheim Mortgage arranged the financing for Mountainview Terrace Apartments LLC. The property includes nine three-story buildings and units ranging in size from 685 square feet to 1,300 square feet.
CRANSTON, R.I. — Washington Trust has provided $5 million in construction financing to Scandinavian Home Inc. for an assisted living facility in Cranston. Proceeds from the loan will be used for a 2,000-square-foot addition the Scandinavian Home community, as well as renovations to existing facilities. The assisted living and skilled nursing facility is located in the Edgewood section of Cranston, about five miles south of Providence. Built in 1930, Scandinavian Home is a nonprofit community.
NEW YORK CITY — Marcus & Millichap has arranged the $1.2 million sale of 328 Madison St., an eight-unit apartment property in Brooklyn. The sales price represents approximately $141 per-square-foot. Derek Bestreich, Lucien Sproviero and Shaun Riney, investment specialists in Marcus & Millichap’s Brooklyn office, marketed the property on behalf of the seller, a private investor, and represented the buyer, also a private investor.
CARLSTADT, N.J. — NAI James E. Hanson has arranged a 26,112-square-foot lease at 455 Barell Ave. in Carlstadt. S.N.S. Oriental Rugs LLC signed a three-year lease for the entire building, which it plans to use for the warehousing and distribution of oriental rugs. The property features a 3,000-square-foot office portion, a 16-foot clear ceiling height, three loading docks and 19 parking spaces. Jeffrey DeMagistris and Thomas Vetter of NAI James E. Hanson represented the landlord, R. J. Purcell Associates, in the transaction.
BALA CYNWYD, PA. — A joint venture between Keystone Property Group and Mack Cali Realty Corp. has acquired 15 office properties and three parcels located in suburban Philadelphia submarkets for $233 million. Keystone plans to reinvest in the portfolio by modernizing the office buildings.The partnership will also seek to develop the three parcels, located in Lester, Media and Berwyn, which include up to 162,200 buildable square feet. The acquisition adds approximately 1.7 million square feet of existing office space to Keystone’s portfolio.
FAIRHAVEN, MASS. — Heyman Properties has sold the 212,393-square-foot Fairhaven Commons, located in the Boston suburb of Fairhaven, for $23.8 million. The property, which was built in 1989, is 93 percent leased. Walmart and Marshalls anchor the center. Additional tenants include Sears Hardware, GNC and Wendy's. James Koury and Ben Sayles with HFF represented the seller and procured the buyer in the transaction.
NEW YORK CITY — Pembrook Capital Management LLC has provided a $20 million bridge loan for the refinancing of the Clarendon Gardens apartment complex in Brooklyn. Clarendon Gardens is a 224-unit, seven-building multifamily property totaling 195,000 square feet. The garden-style apartment complex is more than 98 percent occupied and is located at the southeast corner of Kings Highway and Avenue D. The financing Pembrook provided, along with additional $2 million in preferred equity from a separate private investor, enabled the borrower to refinance the existing debt and complete repair work and renovations.
CONCORD, N.H. — NAI Norwood Group has arranged the sale of 247-249 Pleasant St., two 5,356-square-foot office buildings in Concord. Judy Niles-Simmons and Karl Norwood of NAI Norwood Group represented the seller, the State of New Hampshire Department of Administrative Services. The buyer, Dartmouth-Hitchcock, a New Hampshire-based healthcare system, purchased the property for $900,000. Situated on one acre, the two buildings are located across from Concord Hospital.