SOUTH WINDSOR, CONN. — Marcus & Millichap has arranged the $32.2 million sale of a FedEx Ground package and sorting facility in South Windsor. The 224,061-square-foot facility is fully leased to FedEx Ground Package Systems for 15 years. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the buyer in the transaction.
PARSIPPANY, N.J. — Prism Capital Partners and The Davis Cos. have acquired 339 Jefferson Road, a 102,433-square-foot office building in Parsippany. The Realty Associates Fund IV was the seller. The property, formerly known as Kingsbridge Corporate Center IV, is located near the junction of I-80 and I-287. The Sheraton Tara Hotel and Hyatt House are minutes away. Gary Gabriel of Cushman & Wakefield represented both parties in the transaction.
MARLBORO, N.Y. — Brooklyn Bottling Group has acquired a 113,532-square-foot manufacturing building at Route 9 West and Riverview Drive in Marlboro. Brooklyn Bottling, one of the largest independently owned beverage and food companies in the U.S., plans to use the facility as a warehouse for its finished goods. The building features 9,500 square feet of office space and newly installed loading docks. Jim Panczykowski of Binswanger represented the seller, Chelsea Homes Inc., in the transaction.
NEW YORK CITY — Two adjacent apartment buildings at 38-52 Fort Washington Ave. have sold for $13.6 million. The six-story buildings contain a total of 117,276 square feet. The property is located near Columbia Presbyterian Hospital and the Broadway retail artery. Riverside Park and Highbridge Park are also nearby. Recent upgrades to the property include new elevators, roofs, boilers, intercoms and fire escape cages. Robert Shapiro of Massey Knakal represented both parties in the transaction.
WOBURN, MASS. — M&K Engineering has purchased 166 New Boston St., a single-story industrial building in Woburn, for $2.1 million. M&K will use the building to expand its precision machining business. James and David Stubblebine of The Stubblebine Co./CORFAC International represented the seller and procured the buyer in the transaction.
NEWINGTON, CONN. — Inland Real Estate Acquisitions has acquired Newington Fair, a 186,205-square-foot shopping center in Newington for $17.2 million. The center is fully occupied and anchored by Sam's Club and L.A. Fitness, both on long-term leases. The transaction also includes a parcel of land suitable for the development of an additional retail building. Lou Quilici of IREIT Business Manager & Advisor facilitated the sale. Concurrent with the deal, Inland also acquired a portfolio of Dollar General stores in Alabama, Georgia and Tennessee for $8.3 million.
PHILLIPSBURGH, N.J. — Pennsylvania Real Estate Investment Trust has completed the sale of Phillipsburgh Mall for $11.5 million. The 547,000-square-foot mall is anchored by Kohl's, Sears, Bon Ton and JC Penney. As of Sept. 30, 2012, sales at the center were approximately $235 per square foot and non-anchor occupancy was 66.1 percent. Mason Asset Management was the buyer.
NEW YORK CITY — The Skowhegan School of Painting and Sculpture, a nonprofit visual arts and design school, has acquired a 5,200-square-foot retail condominium at 136 W. 22nd St. for $2.1 million. The property is a ground-floor, two-unit retail space, which is located two blocks from Madison Square Park. The space is currently vacant. Peter Carillo and Alexander Erdos of Eastern Consolidated represented the seller, Spyro Avdoulos. Adelaide Polsinelli and Robert Khodadadian of Eastern Consolidated represented the buyer.
NEW YORK CITY — Marcus & Millichap has arranged the $5.5 million sale of 157 Bleecker St., a 5,100-square-foot mixed-use property in New York City. Barbara Dansker and Zach Ziskin of Marcus & Millichap represented the seller, a limited liability company. They also secured and represented the buyer, a developer.
NEW YORK CITY — Hair Club, the hair restoration company, has opened its 100th center with a new flagship location in New York City. The company signed a lease for 16,400 square feet on the 5th and 6th floors of 551 Madison Ave. Hair Club began construction of its center in May 2012, which includes 25 styling and treatment rooms and a two-story employee lounge and cafe. The center also features environmentally sustainable elements, including LED lighting and Energy Star-rated HVAC systems and equipment. Cassidy Turley is the property management.
