NEW JERSEY — G.S. Wilcox & Co. has arranged a $17 million mortgage loan for a warehouse, office, distribution and training facility located at Exit 8A on the New Jersey Turnpike. The borrower constructed the 352,812-square-foot property for the tenant, an automotive company. The 10-year loan was arranged through Great West Life, a correspondent lender of G.S. Wilcox.
MANHATTAN — RURU & Associates LLC has purchased a mixed-use building, located at 68-70 Second Ave. in Manhattan for $8.7 million. The six-story property includes 25 apartments and three stores. Roberto Ortiz of Eastern Consolidated Inc.'s New York office represented the seller, Bar None LLC, and procured the buyer.
PHILADELPHIA — Red Capital Group LLC, a multifamily finance firm, has closed a $20 million bridge loan on the recently redeveloped Commonwealth, a 15-story apartment building in Philadelphia. The 98-unit building also has ground floor retail space. The project is owned by a partnership of three Philadelphia-based entities: SSH Real Estate, Silverang Hallowell Development Co. and 806 Capital. The loan has a 12-month term and an option for two extensions.
MANHATTAN — MetLife Inc., through its real estate investments department, has provided a $350 million fixed-rate mortgage for an office condominium at the Bertelsmann Building, located at 1540 Broadway in Manhattan. The Bertelsmann Building is a 44-story office building and tenants include Viacom, Shaw Pittman LLP and Yahoo! The borrower is a joint venture between affiliates of Edge Fund Advisors and HSBC Alternative Investments.
NORTH ATTLEBORO, MASS. —The new Nissan Village car dealership in North Attleboro, Mass. will open Nov. 7. The 33,000-square-foot, two-story building includes a showroom, sales offices and a service department with 19 service bays. The dealership building was designed by Brockton, Mass.-based BKA Architects and Rumford, R.I.-based New England Construction was the general contractor for the project.
MANHATTAN — Jones Lang LaSalle has completed the $13.5 million sale of Peck Slip Station in Manhattan. The property consists of a 17,789-square-foot parcel of land with a 70,800-square-foot building. Paul Mas and Darin Early of Jones Lang LaSalle represented the seller, the U.S. Postal Service. Howard Kesseler and Jennifer Schwartzman of Newark Knight Frank represented the buyer, the New York City School Construction Authority. The property is slated to become the site of a new primary public school.
BOSTON — Boston Realty Advisors has completed the $4.7 million sale of Longwood Portfolio, an 11-unit portfolio in Boston's Mission Hill neighborhood. Christopher Sower and Jason Weissman of Boston Realty Advisors, along with Better Place Realty, represented the seller, Palatine Mission Hill. The portfolio consists of three buildings: 163 Calumet St., 170 Hillside St. and 2 Wigglesworth St. The buyer, Fosher Management, was self-represented.
MANHATTAN — Beth Israel Medical Center has signed a 112,941-square-foot, 15-year lease renewal for office space at 555 W. 57th St. in Manhattan. The health care provider will remain in the 20-story, 975,983-square-foot building, which is 99 percent occupied. Josh Kurlioff of Cushman & Wakefield represented Beth Israel. The landlord is SL Green Realty Corp.
NEW ROCHELLE, N.Y. —Purchase, N.Y.-based WestMed Medical Group, a multi-specialty group medical practice, has leased 28,000 square feet of medical office space at 171 Huguenot Ave. in New Rochelle, N.Y. Frank Tomasulo of CBRE represented the tenant, WestMed, and CBRE's William Cuddy, Jr. and Budd Wiesenberg represented the owner, Silwis LLC in the transaction. WestMed plans to occupy the facility in 2012.
LEXINGTON, MASS. — NAI Hunneman has brokered the sale of Captain Parker Arms, a 94-unit, 11-building apartment complex in Lexington, Mass. for $20.8 million. David Ross and Gina Barroso of NAI Hunneman's Boston office represented the seller, Captain Parker Arms Apartments and procured the buyer, Avalon Bay VAF Acquisition II.