HACKENSACK, N.J. — Sanzari 2011 LLC has purchased a former Bank of America branch in Hackensack for $525,000. The 23,324-square-foot property is located at 15 Main St. and includes office space on the 2nd and 3rd floor. The first floor contains existing teller counters, vault, safety deposit boxes and retail and office space. Sanzari owns adjacent land and plans to repurpose the site. Anthony Cassano of NAI Hanson represented the seller, Bank of America, in the transaction. He also represented the seller.
Northeast
NEW YORK CITY — Havas has leased 260,000 square feet from Trinity Real Estate in a deal what will create a two-building campus for the firm at 200 and 205 Hudson St. The advertising firm will occupy 225,000 square feet on the 2nd and 8th floors at 200 Hudson St. as well as 31,000 square feet on the 9th floor of the adjacent building. Jason Pizer, Marc Packman, Robert Constable and Andrew Peretz of Cushman & Wakefield represented Trinity in the 15-year lease transaction. David Falk and Jason Greenstein of Newmark Knight Frank represented the tenant.
NEW YORK CITY — Marcus & Millichap Real Estate Investment Services has arranged the $2.3 million sale of 580-586 E. 22nd St., a 20-unit apartment building in Brooklyn. Shaun Riney and Derek Bestreich of the Brooklyn office of Marcus & Millichap represented the seller, a limited liability company. They also secured the buyer, a private investor.
LYNDHURST, N.J. —Aeropostale has moved to 125 Chubb Way in Lyndhurst, having signed a 68,949-square-foot lease at the property. The teen apparel retailer relocated its regional operations from Wayne, N.J. Aeropostale joins other blue-chip tenants such as Barnes & Noble and Knowledgepoint360 Group. Remy deVarenne, Sarah Jones, Amanda Bokmon and Richard Carson of CBRE represented Aeropostale in the deal. John Barnes and Clark Briffel of SL Green Realty Corp., along with Greg Barkan of CBRE, represented the building owner.
OAK BROOK, ILL. — In a joint venture, Inland Real Estate Corp. and Inland Private Capital Corp. have acquired two portfolios of single-tenant retail properties for $40.8 million. The seven properties total 95,630 square feet. The four stores net-leased to Walgreens are located in Dunkirk, N.Y.; McPherson, Kan.; St. George, Utah; and Nampa, Idaho. The three properties net-leased to CVS are located in Lees Summit, Mo.; McAllen, Texas; and Newport News, Va. The stores range in size from 12,900 to 14,490 square feet.
BOSTON — Love Funding has arranged a $4 million loan to refinance Compass on the Bay, a Boston-based assisted living facility. Leonard Lucas of Love Funding's Boston office secured the loan through the U.S. Dept. of Housing and Urban Development's 232/223(a)(7) loan program. Compass on the Bay is operated by Senior Living Residences and contains 39 units.
CHESTNUT HILL, MASS. — The former Macy's building is being demolished to make way for the second phase of redevelopment work at the Chestnut Hill Shopping Center. The 120,000-square-foot space will be used for a Sports Club/LA health and fitness complex, a cinema and several retail stores. The first phase of the redevelopment was completed in 2009 and included the renovation of Star Market. The third phase will begin later this year and include a new, 64,000-square-foot building located on the site that will include retail stores and restaurants. The developer, WS Development, plans to house its corporate headquarters in the building.
NORWALK, CONN. — SalesOne LLC has purchased an industrial property at 16 Fitch St. in Norwalk for $1.5 million. SalesOne is a jewelry and accessories manufacturer and will use the facility to expand its operations. The building was previously occupied by Harco Fitch Co. Bruce Wettenstein of Vidal/Wettenstein LLC represented the buyer in the deal.
SPARTA, N.J. — Seasons at Sparta LLC has closed on its acquisition of the $3.2 million Seasons at Sparta, an age-restricted multifamily property in Sparta. Located at 84 Sparta Ave., the 34-unit community is open to adults age 55 and above. On-site amenities include concierge services, a fitness center and laundry facilities. Stephen Tragash of the Livingston, N.J. office of Gebroe-Hammer Associates represented the seller, 84 Sparta Avenue LLC, in the transaction. Steven Follman, also of Gebroe-Hammer, represented the buyer.
NUTLEY, N.J. — Balt Investments LLC has acquired a three-property multifamily portfolio in Nutley, for $15 million. The properties total 126 units and include Greylock Apartments, Lincoln Apartments and Ambassador Apartments. Jose Cruz, Andrew Scandalios, Jeffrey Julien, Kevin O'Hearn and Mike Oliver of HFF represented the seller, AIG Global Investment Group, in the deal. The portfolio is 94 percent leased.