Northeast

YACOBIAN GROUP INKS LEASE AT RIVERSIDE CENTER

by admin September 27, 2012

NEWTON, MASS. — The Yacobian Group, a retail consulting company, has signed a lease for 12,140 square feet of office space at the Riverside Center, located at 275 Grove St. in Newton. Yacobian is relocating from its former space in Maynard, Mass. The 508,000-square-foot Riverside Center is adjacent to the MBTA Riverside Terminal. The building includes a fitness center and cafe. Alex Dauria of Jones Lang LaSalle represented the landlord, Equity One, in the transaction. David Ross and Joe Sciolla of Cresa Boston represented the tenant.

September 27, 2012

THREE-STORY RETAIL PROPERTY SELLS FOR $3.2M IN BROOKLYN

by admin September 26, 2012

NEW YORK CITY — Winick Realty Group has arranged the $3.2 million sale of a 17,676-square-foot retail property at 80 Jamaica Ave. in Brooklyn. The ground floor retail has been home to a Citibank branch location since 1973 and the tenant will remain in place for the duration of its long-term lease. Ken Zakin, Hymie Dweck and Randall Liberman of Newmark Grubb Knight Frank represented the seller in the transaction. Zach Mishaan of Winick Realty represented the buyer.

September 26, 2012

Multifamily Northeast

PRIVATE INVESTOR SELLS PARK PLACE APARTMENTS FOR $1.6M

by admin September 26, 2012

PHILADELPHIA — Marcus & Millichap has arranged the $1.6 million sale of Park Place Apartments, a 30-unit apartment property at 5730-42 Frankford Ave. in Philadelphia. The seller, a private investor, developed the property in the early 1970s. Dana Newton and Fred Paisley of Marcus & Millichap represented the seller in the transaction. They also secured the buyer, a limited liability company.

September 26, 2012

Mixed-Use Northeast

GEBROE-HAMMER ARRANGES $3.5M IN DEALS IN NEW JERSEY

by admin September 26, 2012

ELIZABETH, N.J. — Gebroe-Hammer Associates recently closed two transactions for a combined $3.5 million in Elizabeth. Stephen Tragash of Gebroe-Hammer represented the buyer and seller in the $1.7 million sale of a 19-unit apartment building at 547-555 S. Broad St. The three-story, all-brick building is within walking distance of mass transit and shopping. Tragash also represented both parties in the $1.8 million sale of a 20-unit apartment building at 150-152 Elmora Ave. The property also features ground-floor retail.

September 26, 2012

Multifamily Northeast

CHESTNUT HILL COMPLETES RESIDENT ACTIVITY CENTER IN NORWOOD

by admin September 26, 2012

NORWOOD, MASS. — Chestnut Hill Realty has completed a new Resident Activity Center at Norwood Gardens, a 344-unit apartment community in Norwood. The new 12,600-square-foot clubhouse features an Internet cafe, fitness center, resident lounge, conference room, movie theater and activity room. Lowe Associates-Architects designed the project, which is part of an ongoing $12 million improvement program that began five years ago. Chestnut Hill Realty was the general contractor in the project.

September 26, 2012

Multifamily Northeast

FLATBUSH APARTMENT BUILDING TRADES FOR $11.1M

by admin September 25, 2012

NEW YORK CITY — GFI Realty Services has arranged the $11.1 million sale of 9720 Kings Highway, a 118-unit apartment building in the Flatbush section of Brooklyn. The six-story building also includes six stores that total 113,398 square feet. The property is located near Kingsbrook Jewish Medical Center and Brookdale University Hospital and Medical Center. Josh Orlander of GFI Realty Services represented the seller in the transaction. Joseph Landau, also of GFI, represented the buyers, local investors.

September 25, 2012

Northeast

MARCUS & MILLICHAP ARRANGES $6.9M IN STUDENT HOUSING FINANCING

by admin September 25, 2012

HARRISBURG, PA. — Marcus & Millichap Capital Corp. has arranged a $6.9 million loan for a six-property student housing portfolio. The portfolio contains a number of newly constructed and recently stabilized buildings across Kutztown University and Penn State's University Harrisburg campus. The owner wanted to free up some equity to buy out a partner. John Banas and Kris Wood of Marcus & Milichap arranged the 10-year loans, which amortize over 30 years at an interest rate of 4.25 percent.

September 25, 2012

Industrial Northeast

GRIFFIN AGREES TO ACQUIRE 49 ACRES FOR FUTURE INDUSTRIAL BUILDINGS

by admin September 25, 2012

HANOVER TOWNSHIP, PA. — Griffin Land has agreed to acquire 49 acres of undeveloped land in Hanover Township for $7.2 million. The land is expected to support the development of two industrial buildings, totaling at least 500,000 square feet, though no approvals are currently in place. The transaction is expected to close later this year.

September 25, 2012

Northeast Retail

DONZI ACQUIRES DOLLAR GENERAL PROPERTY

by admin September 25, 2012

NEWPORT, N.H. — Donzi Realty has acquired a 10,200-square-foot Dollar General property at 8 John Stark Highway in Newport for $1 million. The property is located on 3.2 acres in the heart of Newport's retail district. Tom Fini of Fini Real Estate Group represented the seller, Ola Grande Realty, in the transaction. Wilma Wilson and Kenny Sell of Real Time Realty represented the buyer.

September 25, 2012

Northeast Retail

TRIANGLE SPORTS BUILDING SELLS FOR $4.1M

by admin September 25, 2012

NEW YORK CITY — TerraCRG has arranged the $4.1 million sale of a retail building at 182 Flatbush Ave. in Brooklyn. The 4,790-square-foot property is located across the street from the 675,000-square-foot Barclays Center and down the street from the Atlantic Terminal and Mall. The building was home to Triangle Sports since 1914 but was vacant at the time of sale. Geoffrey Bailey of TerraCRG represented both the buyer and seller in the transaction.

September 25, 2012

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