WINDHAM, MAINE — Marcus & Millichap Real Estate Investment Services will market the ground lease on a 138,134-square-foot Lowe’s in Windham, located about 11 miles northwest of Portland, for $12.8 million, or $93 per square foot. The 20-year, triple-net lease has 12 years left on its term. The store is located at 64 Manchester Drive. Robert Horvath and Todd Tremblay of Marcus & Millichap’s Boston office are representing the seller, a regional developer.
BROOKLINE, MASS. — Nordblom Co. has received a $9.5 million FHA 223(f) loan to refinance Marion Square, a 44-unit, two-building multifamily complex in Brookline, a southwest suburb of Boston. Nordblom built the first building in 2003 after purchasing the land from a related entity. The company purchased the other building, which was built in 1913, more than 40 years ago. The fixed-rate loan includes a 35-year term with a 35-year amortization schedule. Brian Sykes of Beech Street Capital’s Boston office originated the transaction.
NEW YORK CITY — Ariel Property Advisors has arranged the sale of a five-story Upper West Side multifamily property located at 313 West 77th St. for $5.2 million. The trustee overseeing the disposition of the 11-unit property, a former co-op that filed for bankruptcy protection, retained the Ariel Property Advisors sales team of Victor Sozio, Shimon Shkury, Michael Tortorici and Jesse Deutch. The trustee also retained Wolf Jakubowski of Brown Harris Stevens for the transaction. A national investor bought the building at an auction and plans to renovate the property. The 5,898-square-foot property includes approximately 1,046 square feet of air rights. The building is located three avenues from Central Park and the Museum of Natural History.
JERSEY CITY, N.J. — The LeFrak Organization has arranged 11 new leases at 111 Town Square Place, a 15-story class-A office tower with 500,000 square feet of office, data and co-location space in Jersey City. The recent transactions totaled 51,699 square feet of space and include tenants Fulcrum Worldwide Inc., International SOS Assistance Inc., Constellation Brands Inc., Transcom, IT Cosmetics, Day & Zimmerman, SumRidge Partners, HCC Global, Clinical Mind, Carrier Domain and Park Ave Technologies. Brian Decillis of The LeFrak Organization, in conjunction with the Robert Rudin, Barry Zeller, Ed Duenas and David DeMatteis Cushman & Wakefield, represented the landlord in the transactions.
NEW YORK CITY — Blink Fitness has signed a 15,500-square-foot lease at Chelsea Park, a new residential building located at 260 West 26th St. in New York City. The 12-story Chelsea Park, located on the corner of Eighth Avenue and West 26th Street, includes 204 apartments ranging from studios to two-bedroom units. Alexander Hill of Winick Realty Group represented the ownership in the transaction. Peter Levine of Charter Realty & Development represented the tenant.
NEW YORK CITY — Construction on the new $41 million Triangle Plaza, a mixed-use project in the Melrose neighborhood of the South Bronx, is underway. The project consists of two buildings totaling 187,000 square feet and will include space for restaurants, a grocery store, a charter school, a community health clinic, a plaza and a nonprofit office for Legal Services of NY. The development, which is located at the intersection of 149th Street and Third, Melrose and Willis avenues is expected to be complete by early 2014. Triangle Equities is the owner. KZA Realty Group is the broker for the 25,000 square feet of Class A Office space.
UTICA, N.Y. AND CANTON, GA. — Greystone has provided a total of $28 million in bridge loan financing to United Group of Cos. Inc. for two market-rate senior apartment communities located in New York and Georgia. Proceeds from the loan were used to refinance existing debt. The independent living properties are Schuyler Commons in Utica, N.Y. and The Lodge at BridgeMill in Canton, Ga. Donny Rosenberg and Steve Germano of Greystone originated the loans.
BOSTON — Wayfair.com has signed a 105,000-square-foot lease at Copley Place in Boston’s Back Bay area. The location will become Wayfair.com’s new corporate headquarters. The lease was signed with Simon Property Group Inc. (NYSE: SPG), landlord of Copley Place. The new space is 10 percent larger than Wayfair.com’s current offices at 177 Huntington Ave. and can be expanded as the company continues to grow. Wayfair.com is an online retailer of home goods. Michael Joyce, Jonathan Varholak and Thomas Ashe of Richards Barry Joyce & Partners represented Wayfair.com. Ogden White of CBRE New England represented Simon Property Group.
NEW YORK CITY AND POMPTON LAKES, N.J. — Marcus & Millichap has arranged the sale of two retail properties in Manhattan’s West Village and one mixed-use property in Pompton Lakes, N.J. for $26.6 million. The buildings in New York City include 333 Sixth Avenue, a retail condominium that sold for $16.5 million and 192 Seventh Avenue South, a net-leased retail property that sold for $4.1 million. The property in Pompton Lakes, N.J., which includes four mixed-use assets, sold for $6.5 million and is located at 226-247 Wanaque Ave. Mark Gjonbala of Marcus & Millichap represented the buyer of the two Manhattan properties, The Jackson Group, and the sellers, Florida-based YMZ Realty LLC and Tilou Realty Corp. Gjonbalaj also advised the buyer of 226-247 Wanaque Avenue, Ocean Lake Realty LLC, a New Jersey-based investor. Barbara Dansker and Michael Lombardi of Marcus & Millichap represented the seller, Alrose Pompton LLC, in the New Jersey transaction.
BRIDGEWATER, N.J. — Mack-Cali Realty Corp. (NYSE: CLI) has sold its 55 Corporate Drive office building in Bridgewater for $72.3 million. The four-story, 205,439-square-foot Class A property was sold to a subsidiary of Cole Corporate Income Trust Inc., an entity managed by Cole Real Estate Investments. The building, which was developed by Mack-Cali as a build-to-suit for Sanofi-Aventis, was completed in early 2011. Adam Spies, Kevin Donner and Neill Wessell of Eastdil Secured LLC represented Mack-Cali in this transaction.