LINDENHURST, N.Y. — Marcus & Millichap has arranged the sale of a 2,964-square-foot, net-lease property in Lindenhurst for $3 million. The property, which 7-Eleven currently occupies, is located at 175 W. Sunrise Highway. Preet Sabharwal, senior associate, and Britt Raymond, investment associate, of Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Sabharwal and Raymond.
WAYNE, N.J. — NAI James E. Hanson has arranged the sale of a retail development site located in Wayne, about 19 miles northwest of Newark, for $1.1 million. An out-of-state investor sold the 2.25-acre property, which is located at 2211, 2227 and 2203 Hamburg Turnpike. A 5,000-square-foot Italian restaurant and a single-family home previously occupied the site. The new owner plans to redevelop the property for retail use. Nicholas Herrick, sales associate, and John Schilp, senior vice president, of NAI James E. Hanson represented the owner in the transaction.
BOSTON — Nuestra Comunidad Development Corp. and WiSe Urban Development plan to rehabilitate Washington Park, a 130,000-square-foot, 96-unit mixed-income development in Boston. The nine-building apartment community is located minutes from downtown and is close to I-93. The design team for the project includes The Architectural Team of Chelsea, Mass., and Keith Construction of Canton, Mass. WinnResidential will serve as the property manager for Washington Park, which is slated for completion in July 2014.
NORTH HAVEN, CONN. — Chozick Realty Inc. has arranged the sale of Briarwood Hills Apartments, a 176-unit residential community located in North Haven, for $14.4 million. Rick Chozik, president of Chozik Realty’s Hartford office, represented the buyer, Briarwood Hill LLC, and the seller, Chozick Realty Inc., in the transaction. Briarwood’s amenities include a swimming pool with sun deck, fully equipped fitness center and patio space.
FLORHAM PARK, N.J. — The Rockefeller Group will develop a four-story, 100,000-square-foot medical office building for Summit Medical Group. The property is located at The Green on 140 Park Ave. in Florham Park. Summit Medical Group has signed a 15-year lease for the entire 268-acre, master-planned development. Marc Rosenberg, Cushman & Wakefield vice chairman, and Karen Graham, COO at Summit Medical Group, represented Summit Medical Group. The Rockefeller Group was self-represented by Clark Machmer, vice president, and Johanna Chervak, associate director, in the transaction.
BEDFORD, MASS. — Nordblom Co. has acquired 201 Burlington Road in Bedford for $5.6 million. The property includes two connected office buildings totaling 135,000 square feet on 9.3 acres. Renovations will include a new metal façade, window system and HVAC system.
NORWALK, CONN. — Washington Trust’s Commercial Real Estate Group provided a $4 million loan for the refinancing of 327 Main Ave. in Norwalk, a 92,592-square-foot mixed-use property. CVS/pharmacy and eight other tenants occupy the building. The building is located along Route 7, and was renovated in 2002
NEW YORK CITY — Beech Street Capital has closed on a $38 million Freddie Mac CME loan to refinance The Union, a 95-unit apartment property in the Williamsburg section of Brooklyn. The property features amenities such as 24-hour doorman/concierge, swimming pool, rooftop terraces and a fitness center. Aaron Appel of Meridian Capital Group originated the loan on behalf of Beech Street. The loan carries a 10-year-term, 9.5 years of yield maintenance, and a 30-year amortization schedule.
PARSIPPANY, N.J. — Vision Equities LLC has sold its interest in a 150,500-square-foot Class A office property in Parsippany to Cole Corporate Income Trust Inc. for $32.4 million. The property is located at 299 Jefferson Road. Vision Equities will continue to provide asset/ property management for the building, which serves as a corporate headquarters for Evonik Degussa Co.
NEW YORK CITY — Hudson Cos. has acquired a development site for a planned 23-story, 245-unit rental building at 626 Flatbush Ave. in Brooklyn for $11 million. Jonathan Berman, Shimon Shkury, Michael Tortorici and Victor Sozio of Ariel Property Advisors represented the seller, a private investor, as well as the buyer, Hudson Cos. The property features 100 feet of frontage on Flatbush Ave. and a 52,265-square-foot parking lot, which is located near the Prospect Park Zoo, Brooklyn Botanical Gardens and two blocks from the B, Q and S subway lines.
