BOSTON — Stag Industrial acquired a 145,000-square-foot industrial building in East Windsor for $6.1 million, and signed purchase contracts to buy four additional industrial properties for $28.6 million. The warehouse — constructed in 1976 and renovated in 2006 — is fully leased to East Windsor, a mattress manufacturer. Details are unavailable for the additional contracts, which are entering the due diligence stage.
ISELIN, N.J. — Iselin-based Sperry Van Ness has arranged the sale of three industrial properties for a combined $7.5 million. In the first deal, Schott NYC, a leather jacket manufacturer, purchased a 58,683-square-foot property at 735 Rahway Ave. in Union, N.J. The company plans to use the building as its headquarters for manufacturing and distribution. Doug Richter and Ian Grusd of Sperry Van Ness represented the tenant in the transaction. David Fisher of Weichert Commercial represented the seller, Gelb Estate. Richter also represented Whitman, an engineering consulting firm, in its $1.8 million purchase of a 23,000-square-foot facility at 7-9 Pleasant Hill Rd. in Cranbury, N.J. Mary Ryan of Franzwa Real Estate Advisors represented the seller, Jaffar Inc. In the third deal, Sitex Group acquired a 40,000-square-foot distribution facility at 22 Cragwood Rd. in Avenel, N.J., for $2.5 million. Richter and Ian Grusd of Sperry Van Ness represented the seller, HLP Associates LP in the deal. George Molloy of Grubb & Ellis represented the buyer.
NORWICH, CONN. — Old Lyme, Conn.-based Hamilton Point Investments has acquired Stonington Estates, a 69-unit luxury apartment complex in Norwich, for $6.4 million. The 56,100-square-foot property is located at 102 Stonington Rd. and includes on-site tennis courts and a fitness center. Average rents are $1,080 per month. Louis Zuckerman and Enzennio Mallozzi of Colliers International represented the seller, CW Capital, in the transaction. They also represented the buyer.
DAYTON, N.J. — Medicia Holdings, a soap, shampoo and body wash manufacturer, has renewed its lease at 2351 Route 130 S. in Dayton. The long-term lease is for 250,000 square feet of industrial space. Brian Cass, Blake Chroman, Rob Kossar and Joel Lubin of Jones Lang LaSalle represented the tenant in the transaction. Paul Torosian and Nate Demetsky of Cushman & Wakefield represented the landlord, Clarion Partners.
ISLANDIA, N.Y. — Damianos Realty Group, one of the largest property owners in Long Island, has purchased a 40,000-square-foot office building in Islandia, for $3.8 million. Located at 3001 Expressway Dr. North, the Class B building is 50 percent occupied by medical tenants, including HealthSource and Stony Brook University Hospital. The new owner plans to redesign and upgrade the facility. The seller was Spencer Savings Bank of Elmwood Park, N.J. No brokers were involved in the all-cash deal.
NEW YORK CITY — The New York State Council of the Arts, which supports the activities of arts and cultural organizations throughout the state, will move its headquarters to 300 Park Ave. South from its current office at 175 Varick St. The council signed a 10-year lease for 13,487 square feet in the building, which includes tenants such as the Whitney Museum of American Art and Wilhelmina Models. Rockrose Development Corp. is the building owner and was represented in-house by Craig Deitelzweig. The council is expected to occupy the space by the second quarter of this year.
NEW YORK CITY — GDC Properties recently finished converting the former Hanan & Son shoe factory at 220 Water St. in Brooklyn to 134 luxury apartments. The property includes a mix of studio, one- and two-bedroom residences, with 14-foot ceilings. Rents for the building range from $3,150 to $6,150 per month.
LONG BRANCH, N.J. — United Capital Corp. has purchased the 12-story Ocean Place Resort & Spa in Long Branch. The 254-room hotel includes 40,000 square feet of meeting and event space, a private beach, two restaurants and a fitness facility. United Capital plans to invest $15 million in renovations to the property. The New York-based company also owns and operates hotels in Windsor Locks, Conn.; Utica, N.Y.; Nashua, N.H.; as well as Atlanta and Miami. Additional terms of the deal were undisclosed.
MARLTON, N.J. — Mainardi Management Co. has obtained an $11.7 million loan for the Greentree Square Shopping Center in Marlton. The 110,000-square-foot center is anchored by Whole Foods Market. Tom Didio and Mike Cerullo of HFF arranged the loan through Allstate Insurance Co. The 10-year loan carries a fixed rate of 4 percent.
CAMDEN, N.J. — Centerline Capital Group has arranged a $3.5 million Fannie Mae loan to refinance a newly rehabbed apartment property in Camden. Macedonia Gardens consists of an 11-building apartment complex clustered among Saunders, Howell and Mitchell streets. Built in 1969, the properties underwent a substantial rehab that was completed in 2010. The borrower was Nationwide Housing Management.