SALEM, N.H. — Linear Retail Properties has acquired Salem Park Plaza, a 37,933-square-foot shopping center at 125 S. Broadway in Salem, for $8 million. Tenants include Pier 1 Imports, Jos. A. Bank and T-Mobile. Barnes & Noble anchors the property. The acquisition marks Linear's third purchase in New Hampshire in the last month.
GREENWICH, CONN. — Win Properties has secured a $19.1 million acquisition loan for a 32,000-square-foot office property in Greenwich. The 10-year, fixed rate loan was used to acquire the property in a sale-leaseback transaction. Located one mile north of I-95, the property is fully leased to an institutional equity trading corporation. HFF arranged the loan through Cantor Commercial Real Estate.
NEW YORK CITY — Tuck It Away/Rising Development Astoria LLC has acquired a vacant, seven-story building at 37-19 Crescent St. in Long Island City for $6.1 million. The 47,000-square-foot building has sat vacant since its construction in 2008. The property was built for usage as a self-storage facility and includes two loading docks, a heavy duty elevator and climate control system. Alan Shmaruk and Michael Sherman of Manhattes Group represented the seller, 19 Crescent Corp., in the transaction. They also represented the buyer, a self storage company.
SYRACUSE, N.Y. — Berkadia Commercial Mortgage has arranged a $9 million loan for the refinancing of Rugby Square Apartments, a 216-unit property in Syracuse. The community is located at 215 Dorchester Ave. Nick Cassino of Berkadia arranged the 10-year loan through Freddie Mac.
NEW YORK CITY— Arbor Commercial Funding has arranged a $26.9 million loan for the refinancing of 424 Bedford Ave., a 66-unit multifamily property in Brooklyn. Arbor secured the 10-year loan through Fannie Mae. The financing includes a 30-year amortization schedule.
NEW YORK CITY — Madison Marquette and certain funds within the Perella Weinberg Partners' asset-based value strategy have acquired The Center Building in Queens for $84.5 million. The 450,000-square-foot building is located at 33-00 Northern Blvd., immediately above the 36th Street subway station. Originally built in 1915, the property includes a 62-space underground parking garage and a ground-floor restaurant. The building is 88 percent leased to government agencies such as the Human Resources Administration and New York City Transit Authority. Andrew Scandalios, Jose Cruz, Jeffrey Julien and Kevin O'Hearn led the HFF team that represented the seller, Hampshire Properties, in the transaction.
HARRISBURG, PA. — Pennsylvania Real Estate Investment Trust (PREIT) has closed on its purchase of Paxton Towne Centre, a power center in Harrisburg, for $76.8 million. PREIT developed the center in 2001 for approximately $55 million. The 717,000-square-foot property is anchored by Target, Costco, Kohl's and Weis Markets.
PROVIDENCE, R.I. — Inland Diversified Real Estate Trust has acquired One Hasbro Place, toymaker Hasbro's U.S. corporate headquarters in Providence, for $29.8 million. Hasbro fully occupies the 135,908-square-foot property, which recently underwent a full renovation. Toy brands sold by Hasbro include Star Wars, Transformers, Playskool, Nerf and Trivial Pursuit. The company plans to move more than 300 employees to the area to make the property its new U.S. headquarters for sales and marketing. Joe Consenza of Inland Real Estate Acquisitions represented Inland Diversified in the transaction.
SCARSDALE, N.Y. — NorthMarq Capital has arranged a $32 million loan for the refinancing of Midway Shopping Center, a 246,981-square-foot retail property at 1001 Central Park Ave. in Scarsdale. Major tenants at the site include Shop Rite, CVS/pharmacy, Jo-Ann Fabrics, The Dress Barn and Planet Fitness. Doug Austin of NorthMarq arranged the 15-year loan through a life company lender.
CHELMSFORD, MASS. — Beech Street Capital has arranged an $11.3 million Fannie Mae loan for the acquisition of the Carriage House and Coach House Apartments in Chelmsford. Built in the 1960s, the properties are 88 percent occupied and total 149 units. Briar Cliff Management oversees the property. Mike Edelman of Beech Street arranged the 10-year, fixed-rate loan that includes a 30-year amortization schedule.
