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.
WALTHAM, MASS. — MarketOne International, a global digital marketing and B2B telemarking service provider, has signed a 21,674-square-foot office lease at 610 Lincoln St. S. in Waltham. The company will relocate its U.S. headquarters in Maynard, Mass. to the new facility. John Boyle and Connor Barnes of Cassidy Turley represented the tenant in the transaction. Chip Batchelder of Wyman Street Advisors represented the landlord, Hobbs Brook Management LLC.
MOONACHIE, N.J. — Cornerstone Real Estate Advisors has acquired 115 Moonachie Ave., a 168,000-square-foot industrial building in Moonachie. The property is fully leased to three tenants and is anchored by Lindenmeyr Munroe, one of the largest privately held paper companies. The seller, Russo Development, constructed the property in 2000 and the building features 28-foot clear ceiling heights and a brick-clad facade. Jeffrey Dunne, Kevin Walsh, Brian Schulz and Bill Waxman of CBRE Group represented the seller in the transaction. They also procured the buyer.
WESTWOOD, MASS. — Campanelli has sold 30 Perwal St., a 101,000-square-foot office property in Westwood. The buyer was 30 Perwal Associates LLC. The building is fully leased to Steward Health Care. Campanelli's in-house construction management team has completed significant upgrades to the property. Robert Griffin, Edward Maher, Matthew Pullen and Michael Greeley of Cushman & Wakefield represented both parties in the transaction.
PHILADELPHIA — Post Brothers Apartments has acquired The Presidential City Apartments, a 1,030-unit complex on City Avenue in Philadelphia for $51 million. The seller is a Brooklyn, N.Y.-based real estate investment firm. As part of the off-market transaction, the seller is keeping the ground lease, which has considerable redevelopment potential. The complex was constructed in 1950 and rents range from $765 per month for a studio to $1,835 per month for a three-bedroom unit. Joseph Brecher and Eli Rosen of Gebroe-Hammer represented the seller in the transaction.
NEW YORK CITY — Friedland Properties has purchased 706 Madison Ave., a 19,100-square-foot retail building in New York City, for $141.5 million. The colonial building is located on the Upper East Side and contains three levels above grade, a basement and sub-basement. Jon Caplan, Richard Baxter, Scott Latham and Yoron Cohen led the Jones Lang LaSalle team that represented the seller, BNY Mellon, in the transaction.
MELVILLE, N.Y. — NorthMarq Capital has arranged a $25 million loan for the refinancing of Melville Office Center, a 270,000-square-foot office building at 445 Broad Hollow Road in Melville. Ernest DesRochers and Charles Cotsalas of NorthMarq arranged the 10-year loan through a life company. The loan features a 30-year amortization schedule.
