SUMMIT, N.J. — Construction is complete on the Summit Executive Center, a 600,000-square-foot Class A office building in downtown Summit. Three tenants have moved into the facility, which is 86 percent leased. A partnership between industry veteran Mark Yeager and Normandy Real Estate Partners purchased the property in April 2011 and the renovation began immediately thereafter. The construction included a 25,000-square-foot addition and high-end finishes.
NEW YORK CITY — Burlington Coat Factory opened its new 92,000-square-foot flagship store in New York City's Union Square. The store is located at 14th Street and University Place and is the retailer's sixth city location. Burlington, a national retail chain that offers clothing, home decor and gifts, plans to hire 500 employees.
MANSFIELD, PA. — Marcus & Millichap has arranged the $840,000 sale of a 4,900-square-foot net-leased Sheetz property in Mansfield. Michael Shover and Matthew Gorman of Marcus & Millichap represented the seller, a developer, in the transaction. They also secured the buyer, a private investor. The property is located at 85 W. Wellsboro St. and was built in 2011. Sheetz is a chain of gas stations and convenient stores owned by the Sheetz family.
LEVITTOWN, PA. — BET Investments Inc. has acquired the Chesterfield Apartments at 1338 Veterans Highway in Levittown for a reported $25 million. The 247-unit property is 96 percent leased. Unit sizes average 711 square feet and amenities include a pool, business center, fitness center and clubhouse. The seller was Home Properties.
PROVIDENCE, R.I. — Washington Trust's Commercial Real Estate Group provided a $4.8 million loan for the refinancing of The Gardner Building at 40 Fountain St. in Providence. Emanon Associates has owned the 75,000-square-foot office property for more than 20 years. The building was constructed in 1916 and originally housed the R.L. Greene Paper Co.
NEW YORK CITY — Harbor Group International has completed a $10 million renovation of 1412 Broadway and moved its New York offices to the 14th floor of the 25-story office tower. The company purchased the building in 2010 and recent upgrades include new windows, lobby, corridors and restrooms. Specter DeSouza Architects designed the project. Tenants at the property include Jones New York, One Step Up and Escada USA.
LIVERPOOL, N.Y. — Beech Street Capital has arranged a $6.4 million HUD 232/223(a)(7) loan for the refinancing of Keepsake Village at Greenpoint, a 54-bed assisted living facility in Liverpool. Joshua Rosen of Beech Street Capital originated the 35-year loan.
WILMINGTON, MASS. — Dig Safe Systems has purchased a 10,400-square-foot industrial building at 11 Upton Drive in Wilmington for $1.1 million. Micah Stubblebine of The Stubblebine Co./CORFAC International represented the seller, Miay LLC, in the transaction. Thayer Morgan of Century 21 Commonwealth Commercial represented the buyer.
NEW YORK CITY — Silverstone Property Group has acquired a pair of mixed-use buildings at 143-145 W. 4th St. in the Greenwich Village Historic District of New York City for $11.3 million. The five-story buildings total 21,364 square feet and include 26 apartments. Of the 26 units, six are rent stabilized. James Nelson, Mitch Levine, Caroline Hannigan and Matt Nickerson represented the seller in the transaction.
HARRISON, N.J. — Meridian Capital Corp. has arranged $49 million in permanent financing for the recently constructed Harrison Station multifamily building in Harrison. The four-story multifamily complex includes 275 luxury apartments and seven retail spaces along Frank East Rogers Boulevard Harrison Building 1 Urban Renewal, a joint venture between Ironstate Holdings and The Pegasus Group, is developing the property. David Cohen and Russ Drebin of Meridian Capital Group negotiated the 10-year Freddie Mac loan.