CHESHIRE, CONN. — WS Development will begin construction on The Outlets at Cheshire in early 2014. The 500,000-square-foot center in Cheshire, slated for completion in summer 2015, will be located at the I-84/I-691 Interchange along Route 10. The open-air shopping and entertainment complex will include walkways, recreational amenities, a residential component and a grocer. The development company is targeting fashion and designer outlet stores for the remaining retail space at the project.
NEW YORK CITY — A portfolio of six mixed-use buildings in Manhattan’s Greenwich Village has sold for $32.3 million. The portfolio includes 47 residential units and seven commercial spaces. Peter Hauspurg, chairman and CEO of Eastern Consolidated, represented the seller, multigenerational owner Noah Osnos, in the transaction. Ben Tapper, senior director of Eastern Consolidated, procured the buyer, a partnership between Dalan Management and RWN Real Estate Partners LLC. The six contiguous buildings include 89 & 91 Christopher St. and 329, 333, 337 and 341 Bleecker St. Attorneys in the transaction were Eric Kahan, Esq. of Sperber Denenberg & Kahan PC for the seller, and Dan Altman, Esq. and chair of Belkin Burden Wenig & Goldman LLP for the buyer.
PHILADELPHIA — SSH Real Estate has sold Chestnut Place, a 140,000-square-foot, Class B office building in Philadelphia, to a partnership led by Alterra Property Group LLC for $17.5 million. The seller was 15th and Chestnut L.P., a limited partnership led by general partners Peter Soens and Jeffrey Seligsohn, principals of SSH Real Estate. The partnership acquired the building in 2005 for approximately $11.4 million. During the past several years, SSH Real Estate has positioned selected office leases to have the flexibility to allow for residential conversion. The building is located at the corner of 15th and Chestnut streets.
NORWALK, CONN. — Mack-Cali Realty Corp. has sold its office property located at 40 Richards Ave. in Norwalk for $16.5 million. The Davis Cos. purchased the seven-story, 145,487-square-foot property. The office building was 64 percent occupied at the time of sale. Matthew Keefe of HK Group represented Mack-Cali in the transaction.
ROCHELLE, N.Y. — Meridian Capital Group LLC has arranged $13.5 million in acquisition financing for two high-rise apartment buildings in New Rochelle. Abe Schonfeld, vice president at Meridian Capital’s Iselin, N.J. office, negotiated the loan on behalf of Sound View Management Associates. The seven-year loan carries a fixed interest rate of 3.5 percent. The Sound Shore Apartments property includes an 11-story tower and a 12-story tower, which total 206 units. The buildings were acquired from a medical facility and are now being leased to the public market.
OXFORD, CONN. — Washington Trust’s Commercial Real Estate Group has provided a $6.5 million loan to Timberlake Holdings Co. LLC for the refinancing of 803 acres of undeveloped land in Oxford. Timberlake plans to build a 385-unit, master-planned active adult community on the land. The property surrounds Oxford Greens, an 18-hole championship golf course.
WOLFEBORO, N.H. — Marcus & Millichap has brokered the $4.9 million sale-leaseback of GI Plastek Industrial Facility, a 94,400-square-foot, net-leased property in Wolfeboro, about 50 miles north of Manchester. Glen Kunofsky, Edward Otocka and Todd Tremblay, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a fund manager. The buyer, a private investor, was secured and represented by Kunofsky and Judson Kauffman, investment specialists at Marcus & Millichap. The GI Plastek Industrial Facility is located at 5 Wickers Drive and is occupied by a manufacturer of molding products. The tenant signed a new 20-year, triple-net lease.
NEWARK, N.J. — Skanska (STO:SKAB) has signed a contract with Prudential Financial Inc. to build an office tower in Newark. The contract is valued at $117 million. The 20-story office tower, which will span approximately 217,600 square feet, will have an adjoining parking garage and ground-floor retail. The project aims to achieve LEED Gold certification. Construction is underway, with the project slated for completion in March 2015.
PHILADELPHIA — DeMedici II Corp. has purchased an eight-story, 226,890-square-foot Class A office building in Philadelphia for $29 million. Liberty Property Philadelphia Limited Partnership II sold the property, located at 1600 Vine St., to the corporation. The building will house the Philadelphia Performing Arts Charter School, which will open in the fall of this year with 350 ninth graders. The school will add a grade each year until 1,400 students are enrolled. Constructed in 1999, the building at Three Franklin Plaza includes eight floors averaging 28,361 square feet. The buyer plans to spend between $10 million and $12 million on upgrades to create a theater, performing arts studios, science labs and an automotive engineering lab. Chris Pennington, vice president in Binswanger’s Philadelphia office, handled the transaction.
NEW YORK CITY — Silvershore Properties has purchased four buildings in Brooklyn, in separate transactions, totaling $9.7 million. The acquired properties include 115 Atlantic Avenue in Brooklyn Heights for $2 million; 32 Garnet Street in Carroll Gardens for $1.2 million; 278 Dean Street in Boerum Hill $1.3 million; and 219 13th Street in Park Slope for $5.25 million. Silvershore plans to renovate and reposition the properties. The building on Atlantic Avenue is a four-story, 5,000-square-foot building with a duplex apartment, additional full-floor apartment and ground-floor retail. The property on Garnet Street is a four-story, eight-unit multifamily building. The building on Dean Street is an 8,000-square-foot, four-story multifamily building with eight units. 219 13th Street is a 22,000-square-foot, six-story apartment building with 25 units.