DOVER, N.J. — FJH Whitehall LLC has acquired a 14,000-square-foot retail property in Dover, which recently opened as a new Lazy Boy Furniture store, for $2.6 million. The property is located at 500 Mount Pleasant Ave. near the Rockaway Mall. The seller was Plaza K Realty-Dover LLC. Mark Handwerker of The Goldstein Group represented both parties in the transaction.
SOUTH PARK, PA. — Berkadia Commercial Mortgage has arranged a $13.8 million Freddie Mac loan for Park Place Apartments, a 219-unit property at 1700 Park Place in South Park. The 10-year, fixed-rate loan was used to pay off the acquisition financing on the property. Nick Cassino of Berkadia secured the loan on the behalf of the borrower, Robert Morgan, who owns more than 16,000 apartment units through his companies, Morgan Communities and Morgan Management.
ROCHESTER, N.H. — New England Auto Finance has leased 2,650 square feet of retail space at 115 Farmington Road in Rochester. David Choate and Rebecca Lee of Grubb & Ellis/Northern New England represented the tenant in the transaction. Paul Kiratzis of Shoe Town represented the landlord, Hermitage Place Limited Partnership.
PHILADELPHIA — The Goldenberg Group has broken ground on a $100 million student residence project at the site of the former John Wanamaker School in Philadelphia. The 320,000-square-foot property will be located near Temple University's main campus. Bridge of Hope Community Development Corp. is partnering on the project, which will feature 832 beds across 238 residences and 11,000 square feet of ground-floor retail. The complex is slated to open in the fall of 2014. Amenities will include a fitness center, computer lab and laundry facilities on each floor.
NEW YORK CITY — Skanska USA and Forest City Ratner will soon break ground on B2, the first residential tower that is part of the Atlantic Yards Development in Brooklyn. The groundbreaking for the 32-story apartment building will be held on Dec. 18 and the building is expected to open in 2014. The 363-unit building will be located at the intersection of Dean Street and Flatbush Avenue. Amenities will include a fitness center, bike storage, a resident lounge, game room, yoga studio and roof terrace. Each unit will have a washer and dryer.
NEW YORK CITY — HFF has arranged $81 million in financing for Jamaica Center, a mixed-use property in the Jamaica section of Queens. The sponsor, Mattone Group, developed the urban retail center in 2002, which includes a 15-screen theater, office space and 375-space parking garage. Tenants include Old Navy, Bally Total Fitness and Walgreens. Robert Delitsky led the HFF team that arranged the 10-year, fixed-rate loan through Jefferies Loan Core.
TOTOWA, N.J. — Digital Realty Trust has acquired 701 Union Blvd. in Totowa, a 271,000-square-foot redevelopment property, 20 miles west of the George Washington Bridge, for $16.8 million. Digital Realty plans to redevelop the existing building into a data center. In future phases, the company plans to construct an onsite substation to support the development of additional data center capacity at the site.
STAMFORD, CONN. — ClearRock Properties has purchased a 270,000-square-foot, four-building mixed-use portfolio in Stamford. ClearRock and joint venture partner Contrarian Capital Management purchased the underlying non-performing mortgage in May, and recently completed a foreclosure. The real estate firm will begin a redevelopment and leasing project at one of the buildings, 700 Canal St., to modernize its exterior and redesign the main entrance. The property is a former industrial building that was converted to office space in the 1980s. The other buildings, 850, 860 and 880 Canal St., may undergo some renovations as well, the company stated. The portfolio is situated along the waterfront of one of the nation's largest redevelopment projects, Harbor Point, in the redeveloped South End.
BOSTON — DivcoWest Properties has acquired a four-property, 362,562-square-foot office portfolio for $106.7 million in Boston's Seaport District. The properties include 300 A St. (106,171 square feet); 313 Congress St. (70,217 square feet); 330 Congress St. (35,811 square feet); and 51 Sleeper St. (150,363 square feet). Originally constructed as wool warehouses, the assets have been converted into high-quality office spaces. Coleman Benedict and Ben Sayles led the HFF team that represented the seller, Brickman Associates, in the transaction. They also procured the buyer. Additionally, HFF arranged the $31.4 million acquisition financing for 51 Sleeper St., which was financed by Eastern Bank.
ROCHELLE PARK, N.J. — Real Estate Growth Advisors has acquired Swan Court Apartments, a 126-unit apartment community in Rochelle Park for $15 million. The sale equates to a 5.6 percent cap rate and $119,048 per unit. The property is located at 235 W. Passaic St. across the street from a ShopRite-anchored shopping center. Thomas McConnell of Marcus & Millichap represented the seller, Genwill Co., in the transaction. He also represented the buyer.