Northeast

RICHARDS BARRY JOYCE & PARTNERS ARRANGES TWO LABORATORY LEASES

by admin February 21, 2013

LEXINGTON, MASS. — SynapDx Corp. and Promedior Inc. have signed leases totaling 18,424 square feet of laboratory space in Lexington, a northwest suburb of Boston. SynapDx Corp. leased 10,724 square feet at 4 Hartwell Place. Promedior leased 7,700 square feet at 101 Hartwell Avenue. SynapDx is a private company providing laboratory diagnostics to physicians who suspect children of developmental disorders. Pormedior is a clinical stage biotechnology company that is developing biologic therapeutics for the treatment of fibrosis. The landlord was King Street Properties, which was represented by Richards Barry Joyce & Partners in the deal.

February 21, 2013

JOINT VENTURE RECEIVES $40M LOAN FOR RETAIL PORTFOLIO

by admin February 20, 2013

NEW YORK CITY — A joint venture between Madison Capital and an institutional owner has received a $40 million acquisition loan for a portfolio of five retail properties occupied by Citibank branches in New York City. The 10-year balance sheet loan includes full-term, interest-only payments and was provided by a regional bank. Aaron Birnbaum and Tal Savariego of Meridian Capital negotiated the financing. The Citibank properties are under long-term leases and total 44,245 square feet of retail space.

February 20, 2013

Industrial Northeast

FEDEX DISTRIBUTION FACILITY SELLS FOR $32.2M IN SOUTH WINDSOR, CONN.

by admin February 20, 2013

SOUTH WINDSOR, CONN. — Marcus & Millichap has arranged the sale of a 224,061-square-foot FedEx distribution facility in South Windsor, Conn. for $32.2 million. The property, which is located at 456 Sullivan Ave., was built in 2012. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the buyer, a regional private investor. FedEx’s double-net lease expires in 2027.

February 20, 2013

Healthcare Northeast

SIMONE HEALTHCARE DEVELOPMENT ACQUIRES PARK AVENUE MEDICAL ARTS CENTER

by admin February 20, 2013

NEW YORK CITY — Simone Healthcare Development Group has purchased the Park Avenue Medical Arts Center, a medical condo space at 62 East 88th St. in New York City, for $11.5 million. Located between Park and Madison avenues, the 15-story building was constructed in 1986 and contains 18 residential units in addition to the medical condominium space. The 19,000-square-foot medical property includes a separate private entrance from the residences and a private elevator. Corcoran Wexler Healthcare Properties and CBRE represented the seller, S&H 88th Street Associates, while Wexler represented the buyer in the deal.

February 20, 2013

Northeast Retail

RKF ARRANGES 48,500 SF IN RETAIL LEASES AT TIMES SQUARE OFFICE TOWER

by admin February 20, 2013

NEW YORK CITY — RKF has arranged a series of retail leases at 11 Times Square, a 1.1 million-square-foot office tower, totaling 48,500 square feet. With the completion of the three deals, the office tower is 90 percent leased. The tenants include:” Señor Frogs, a Mexican-themed restaurant, which leased 21,000 square feet; Off The Wall, a frozen yogurt restaurant, which leased 2,500 square feet; and Russian restaurateur Global Food International Corp., which leased 25,000 square feet. RFK represented the landlord, SJP Properties, in the deal.

February 20, 2013

Mixed-Use Northeast

MIXED-USE BUILDING SELLS FOR $8.1M IN MANHATTAN

by admin February 19, 2013

NEW YORK CITY — A six-story, mixed-use building in Manhattan has sold for $8.1 million to 281 St. Nicholas Partners. The 50,706-square-foot property, which is located at 281 St. Nicholas Ave., was built in 1921 and has 32 apartments and six stores. Cignature Realty Associates represented 281 St. Nicholas Partners and the seller, Harrjoy Realty Corp, in this deal.

February 19, 2013

Multifamily Northeast

BELLWETHER CLOSES ON $14.9M REFINANCING FOR MULTIFAMILY PROPERTY

by admin February 19, 2013

NEW YORK CITY — Bellwether Enterprise Real Estate Capital has closed a $14.9 million 223F FHA/HUD loan to refinance Chinatown Preservation, a five-building multifamily portfolio. The financing was through the Department of Housing and Urban Development and is a 35-year, self-amortizing loan. The properties are located in the Chinatown section of New York City and are 96 percent leased.

February 19, 2013

Northeast Office

JOINT VENTURE ACQUIRES ATRIA WEST IN GARDEN CITY, N.Y.

by admin February 19, 2013

GARDEN CITY, N.Y. — A joint venture between The Davis Cos. and Onyx Equities LLC has acquired Atria West, a 250,000-square-foot, Class A office building. Located at 900 Stewart Ave. in Garden City, the six-story site includes a metal panel exterior of reflective glass and a 180-foot-long, 50-foot-high atrium. The purchase price was not disclosed. The Rochlin Organization has been named exclusive leasing agent for the property. Spector Group has been hired as the architect for a renovation that will include remodeling of the atrium lobby, building common areas, outdoor plaza and landscaping.

February 19, 2013

Northeast Retail

WEIS MARKETS LEASES 58,546 SF OF RETAIL SPACE IN FLANDERS, N.J.

by admin February 19, 2013

Flanders, N.J. — Weis Markets has signed a lease for 58,546 square feet of retail space at Sutton Plaza in Flanders. The plaza, which is owned by Armstrong Capital, is 163,500 square feet. Tenants in the shopping center include Tractor Supply, Dollar Tree, GNC and Supercuts. Bob Delia of Summit Realty LLC and Rick Rizzuto of Cushman & Wakefield represented the landlord. Glen Marvin of Metro Commercial Realty represented Weis Markets in the deal.

February 19, 2013

Multifamily Northeast

MULTIFAMILY PORTFOLIO SELLS FOR $37.6 M IN HUDSON COUNTY, N.J.

by admin February 18, 2013

HUDSON COUNTY, N.J. — A 13-property multifamily portfolio has sold to a private investment group for $37.6 million. The portfolio includes seven properties in West New York, five in Union City and one in North Bergen and has a total of 398 units. All of the properties are located within Hudson County, the smallest, but most densely populated county in New Jersey. West Orange-based Feinstein, Raiss, Kelin & Booker LLC arranged the sale.

February 18, 2013

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