BOSTON — Fortium Realty has acquired a 24-unit apartment property at 15 Leicester St. in Boston for $5.1 million. All of the units were occupied at the time of sale. Carl Christie and Dan McGee of NAI Hunneman represented the seller, The Man Trust, in the transaction. They also procured the buyer.
FREEHOLD TOWNSHIP, N.J. — The Solomon Organization has completed its purchase of the 172-unit Chesterfield Gardens in Freehold Township for $16.5 million. The two-story, garden-style apartment complex is located at 210 Harding Road and the property includes laundry facilities and parking. The complex is also situated near Jersey Shore beaches. Joseph Brecher and Steven Follman of Gebroe-Hammer Associates represented both parties in the transaction.
BOSTON — Skanska USA Commercial Development Inc. has purchased Parcel L1 in Boston's Seaport District, with plans to develop a 455,000-square-foot office building on the site. Located in the 23-acre, mixed-use Seaport Square development, the parcel is located at the corner of Seaport Boulevard and Boston Wharf Road. Boston Seaport LLC, a partnership between Morgan Stanley and Boston Global Investors, was the seller. Skanska acquired the land and development rights for $33 million and contributed an additional $4.5 million to Seaport Square's public realm improvements. The site is adjacent to Parcel K, the property Skanska bought last year with Wining Properties.
LANCASTER, PA. — Marcus & Millichap has arranged the $28.2 million sale of a multifamily portfolio in Lancaster, totaling 387 units. The first property is Windsor Court Townhomes, a 125-unit single-family neighborhood at 1821 Hidden Lane. The sale also included Cherryhill Villas, a 118-unit apartment community at 560-02 Estelle Drive, and Sweetbriar Apartments, a 143-unit property at 1917 Oregon Pike. Recent upgrades at Sweetbriar include a refurbished private pool area along with new windows and patio doors. Mark Thomson, Zachary Pierce, Ridge MacLaren, Clark Talone and Andrew Townsend of Marcus & Millichap represented the buyer, a regional limited liability company, in the transaction.
SOUTHBOROUGH, MASS. — Ken's Foods Inc. has acquired a 350,000-square-foot warehouse at 325 Turnpike Road in Southborough, which previously served as a site for Verizon Wireless, for $15 million. Ken's Foods makes and distributes more than 400 dressings, marinades and sauces. The company will use the new space and its surrounding 51 acres for finished goods distribution. Kevin Hanna of Cassidy Turley represented the buyer in the transaction. John Lashar of Richards Barry Joyce & Partners represented the seller, Cornerstone Real Estate Advisors.
LEOMINSTER, MASS. — Calare Properties has acquired a vacant, 588,868-square-foot industrial building at 25 Tucker Drive in Leominster for $11.6 million. After completing miscellaneous repairs, the new owner plans to redeploy the property into the marketplace for lease. The facility features 5 to 10-inch concrete floors, 28-foot clear ceiling heights, 36,300 square feet of air-conditioned office space and seven rail side doors. Tim O'Callaghan of Binswanger represented both parties in the transaction.
NEPTUNE, N.J. — Cushman & Wakefield has arranged the $7 million sale of a 162-unit apartment portfolio at 300-400 Neptune Blvd. and 1819 Bangs Ave. in Neptune. The portfolio includes Neptune Gardens, Stratford Gardens and Harlee Gardens. The properties are located three miles from the Garden State Parkway. Brian Whitmer, Andrew Merin and Donald Eisen of Cushman & Wakefield represented the seller in the transaction.
NEW YORK CITY — Prudential Mortgage Capital Co. has provided a 15-year, $85 million loan for Kips Bay Plaza, a 171,325-square-foot retail center in Manhattan. The borrowers are MD Carlisle and JD Carlisle. The property is located on Second Avenue between 30th and 32nd streets. Fairway Supermarkets anchors the property. Additional tenants include an AMC movie theater and Rite Aid pharmacy. Evan Stein of MD Carlisle says the financing was a “culmination of a three-year effort on our part to reposition the property.” Chris Lama of NY Urban Real Estate Services arranged the loan.
SECAUCUS, N.J. — One Liberty Properties has acquired the 45,000-square-foot LA Fitness Meadowland building at 485 Harmon Meadow Blvd. in Secaucus for $16.4 million. Hartz Mountain Industries was the seller. The property is part of the master-planned Harmon Meadow complex, which includes 4 million square feet of office, retail, hotel and entertainment space. The complex is located five minutes from Manhattan. Andrew Merin, David Bernhaut, Gary Gabriel and Jared Zimmel of Cushman & Wakefield represented both parties in the transaction.
FEASTERVILLE, PA. — Marcus & Millichap has arranged the $7 million sale of The Shops at Walnut Grove, a 24,803-square-foot neighborhood center at 23 Bustleton Pike in Feasterville. The shops are adjacent to a new 170-unit townhome community called Walnut Grove. Bottom Dollar Food, a discount grocer, anchors the property. Brad Nathanson of Marcus & Millichap represented the buyer, a Pennsylvania-based shopping center operator. Richard Soloff of Soloff Realty & Development represented the seller, a Pennyslvania-based management company.
