BANGOR, PA. — The former Majestic Athletics apparel manufacturing building, located at 100 Majestic Way in Bangor, has sold for $1.5 million. BioSpectra, a biotech company, purchased the 142,000-square-foot facility to expand its operations. Joseph Baxter and Brian Coyne of Stroudsburg, Pa.- based Michael Baxter & Associates represented the owner in the deal. Daniel Perich and Ray Starner of Michael Baxter represented the buyer.
BEVERLY, MASS. — Woburn, Mass.-based Cummings Properties has purchased a 103,000-square-foot office building in Beverly for $2.3 million. The four-story building was built in the 1980s as the headquarters for Parker Brothers Co. Peter Richardson of Jones Lang LaSalle represented the seller, Wight & Co., in the transaction. Cummings Properties was self-represented.
JERSEY CITY, N.J. — Manulife Real Estate, the global real estate arm of Canada-based Manulife Financial Corp., has purchased 10 Exchange Place, a 30-story office tower in Jersey City. The property sold for a reported $285 million. The fully leased property has a tenant roster that includes ACE Insurance, Goldman Sachs and Amazon.com. Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Brian Whitmer represented the seller, a client of Invesco, in the deal.
ROSELAND, N.J. — 56 at Roseland, a 433,945-square-foot office building at 56 Livingston Ave. in Roseland, has sold for $18.1 million. The property was acquired by a partnership between Mountain Development Corp. and Square Mile Capital Management. The vacant building includes more than $50 million of recent infrastructure investment by the previous owner, Merck & Co. Inc. The new owners retained Jones Lang LaSalle to lease the space.
STAMFORD, CONN. — SL Green Realty has secured an $86 million senior mortgage loan for Landmark Square, an 862,000-square-foot mixed-used property in Stamford. SL Green has completed several upgrades to the property since 2007 and is underway with a major capital improvement plan. AIG Asset Management provided the five-year fixed-rate loan on behalf of a wholly owned life insurance subsidiary of American International Group. Steven Kohn, Alex Hernandez, Christopher Moyer and Sridhar Vankayala of Cushman & Wakefield Sonneblick Goldman arranged the financing.
YONKERS, N.Y. — Express Cabinets Inc., a kitchen cabinetry manufacturer, is relocating its operations from 310 Sherman Ave. in Newark to 630 Central Park Ave. in Yonkers. The company purchased a 200,000-square-foot industrial building for $7.6 million. William Cuddy, Jr. and Budd Wiesenberg of CBRE's Stamford office represented the seller, Stewart EFI. Express Cabinets will move into the building in the spring of 2012.
FORT LEE, N.J. — Developer BNE Real Estate Group has broken ground on Twenty50, a $70 million luxury residential building in Fort Lee. The 12-story building, located at 2050 Central Rd., will include 194 one- and two-bedroom rental units. Amenities will include resident lounges and an outdoor pool. The building was designed by Lessard Design Group and is slated for completion in September 2013.
LYNDHURST, N. J. — Walker & Dunlop has arranged $21 million in financing for Riverside Plaza, a mixed-use complex in Lyndhurst. Freddie Mac provided the loan, which has a 7-year term and 30-year amortization schedule. Riverside Plaza is a six-story complex that includes studios, one- and two-bedroom apartments, and retail suites on the first floor. Stephen Farnsworth led the Walker & Dunlop team.
PORT WAHINGTON, N.Y. — WAC Lighting Co. plans to move its headquarters from Garden City to a 145,000-square-foot building at 44 Harbor Park Dr. in Port Washington. WAC, a manufacturer of energy efficient lighting, purchased the building from Luxottica, an eyeglasses retailer and manufacturer, for $12.3 million. WAC plans to create 228 new jobs for the facility. Colliers International represented WAC in the transaction.
NEW YORK CITY — The historic church of St. Vincent De Paul in Williamsburgh has sold for $13.7 million to a private investor. The 37,500-square-foot church is located on North 6th St. between Bedford and Driggs avenues and was designed by architect Patrick Keely in 1869. David Behin of New York-based MNS represented the buyer in the transaction. The seller was the Roman Catholic Archdiocese of Brooklyn.