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.
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.
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.
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.
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.
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.
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.
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.
NORWICH, N.Y. — A private investor has purchased Tops Plaza, an 85,453-square-foot grocery-anchored strip center for $4.4 million. The retail property is located at 54 E. Main St. in Norwich, about 100 miles west of Albany. Joseph French and Thomas Dalzell of Marcus & Millichap represented the buyer and the seller, a public REIT, in the deal.
NEW YORK CITY — A 3,900-square-foot preschool facility has sold for $3.8 million on Manhattan’s Upper West Side. The four-story plus basement building is approximately 3,900 square feet above grade and located at 127 W. 94th St. At the time of sale, the property was net leased to another school through mid 2015. The building was also fully renovated between 2005 and 2006 for use as a modern pre-school facility. Massey Knakal arranged the sale.
