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.
BRIDGEWATER, N.J. — Synchronoss Technologies has relocated its corporate headquarters to Bridgewater Office Park, located at 200 Crossing Blvd. in Bridgewater. The technology company will occupy 80,000 square feet on the seventh and eighth floors of the building. Allan Greene of UGL Services' Iselin, N.J. office and Tadd Wisinski of the firm's New York office represented the tenant in the transaction. William McCaffrey and Jeffrey Heller of CBRE's Florham Park, N.J. office represented the landlord, Wells Real Estate Funds.
ENFIELD, CONN. — Grace & Glory Apostolic Church Inc. has purchased the former Nassau Furniture store, and an adjacent 18 acres of land in Enfield. The 27,000-square-foot building and parcel were sold for $1.8 million. Nicholas Morizio of Colliers International's Hartford, Conn. office represented both parties in the deal.
NEW YORK CITY — A luxury rental building located at 109 Gold St., on the border of Brooklyn's DUMBO and Vinegar Hill neighborhoods, has sold for $14.5 million. The newly constructed property contains 33 units and consists of 36,944 square feet. The property also includes 17 parking spaces and bike storage. Stephen Palmese of New York City-based Massey Knakal Realty Services represented the buyer and seller in the transaction.
BOSTON — A joint venture plans to develop the 413,536-square-foot Longwood Center, a life sciences and biotechnology facility in Boston. The center will be located in the Longwood Medical Area of the city, which also serves as home to Harvard Medical School and Beth Israel Deaconess Medical Center, among others. Dana-Farber Cancer Institute will anchor the property, leasing 154,000 square feet of space. The joint venture consists of Clarion Partners, National Development, Charles River Realty Investors and Alexandria Real Estate Equities.
PORTLAND, MAINE — Stag Industrial Inc. has purchased a warehouse and distribution facility in Portland for $5.8 million. The 100,600-square-foot facility was constructed in 1989 and renovated in 2008. The property is fully leased to Office Max Inc., which has 6 years remaining on its lease.
ROCHESTER, N.Y. — Pike Co. has broken ground on a 109,000-square-foot office building in Rochester. Arkansas-based network communications provider Windstream will fill the first two floors of the three-story building when the facility opens next summer. The company signed a 15-year lease for 66,667 square feet. More than $122 million in public funds have gone into the demolition and continued prep of the 9-acre site. Pike is investing $19 million to redevelop the building. An underground service tunnel, garage, above-ground street grid and sidewalk are also planned for the site.
ELMWOOD PARK, N. J. — Marcus & Millichap has arranged the sale of two apartment complexes, totaling 87 units, in Essex County. A California-based investor purchased 355 Belleville Ave. in Bloomfield for $2.7 million. Christopher Rizzolo of Marcus & Millichap's New Jersey office represented both parties in the deal. In a separate transaction, a local developer sold a 50-unit apartment complex at 22-30 S. Munn Ave. in East Orange for $4 million. Nat Gambuzza, also of the firm's New Jersey office, represented the buyer, while Rizzolo represented the seller.
BETHLEHEM, PA. — Crayola, the crayon and art product maker, plans to move its main distribution center from the Harrisburg area. Construction of an 800,000-square-foot warehouse along Route 412 in the Majestic Bethlehem Center is expected to start next month with completion by December. The company is slated to employ between 60 and 80 people at the new center. Crayola plans to consolidate the company's current warehouse operations in Harrisburg and Leigh Valley after the leases for the facilities expire in 2013.