SECAUCUS, N.J. — Holliday Fenoglio Fowler LP has arranged $6 million in financing for 501 and 601 Penhorn Ave., two industrial buildings totaling 100,000 square feet in Secaucus, N.J. Holliday Fenoglio Fowler worked on behalf of Bhasin Properties to secure the long-term, fixed-rate loan through Principal Real Estate Investors. Both properties are fully leased.
BRONX, N.Y. — Houlihan-Parnes Realtors LLC, a real estate investment company, has closed a $5 million loan on a 12,250-square-foot retail property, located at 4174 White Plains Rd. in Bronx, N.Y. Tenants include T-Mobile, McDonald's and H&R Block. Jim Coleman and Jerry Houlihan represented Houlihan-Parnes in the transaction. The loan term is 10 years.
NORWOOD, MASS. —Waltham, Mass.- based Hobbs Brook Management LLC recently broke ground on a 160,000-square-foot Class A office building in Norwood, Mass. The four-story building, located at 1175 Boston/Providence Hwy., will be shared by FM Global, an insurance company, and Dedham Medical Associates. The building was designed by Margulies Perruzzi Architects and includes a shared cafe and separate lobby entrances. Hobbs Brook Management is the owner and operator of the property. The project is slated for completion in 2013.
TOMS RIVER, N.J. —Strategic Storage Trust, a self-storage REIT, purchased a 630-unit self-storage property in Toms River, N.J. for $5.7 million. Located at 3200 Route 37 E., the facility consists of two three-story buildings. John Barry of Investment Real Estate LLC represented Strategic Storage Trust in the transaction.
NEW YORK — SL Green Realty Corp. and its joint venture partner Jeff Sutton have sold two retail condominium units at 141 Fifth Ave. in New York for $46 million. The condominiums encompass about 9,860 square feet, and are situated two blocks south of Madison Square Park. Eastdil Secured represented the seller and Eastern Consolidated represented the buyer in the transaction.
YONKERS, N.Y. — Westchester's Ridge Hill, a $685 million mixed-use shopping center in Yonkers N.Y., recently opened new stores and restaurants. The new shops include The Cheesecake Factory, Yard House, L.L. Bean, H&M, Sephora, Orvis, Gap, Desigual and Old Navy. Additional store openings will follow in November and December. Westchester Ridge Hill spans about 81.4 acres and includes more than one million square feet of retail and entertainment space.
EAST BRUNSWICK, N.J. — Newmark Knight Frank represented PNC Bank in a 131,363-square-foot lease extension at Tower Center II in East Brunswick, N.J. David Simpson of Newmark Knight Frank's New Jersey office represented the tenant in the transaction. The owner, a major pension fund, was represented by Joseph Sarno of CB Richard Ellis. The new lease includes the exchange of two floors and remodeling of the current layout.
LYNDHURST, N.J. — Relevant Partners LLC, a New York-based experiential firm, has leased 22,000 square feet at Meadowlands Distribution Center, located at 1275 Valley Brook Ave. in Lyndhurst, N.J. Cushman & Wakefield's Stephen Elman and Robert Adams represented Relevant Partners in negotiating the long-term lease. Jeff Chaus of Chaus Realty was the broker for ProLogis, the property's owner. Relevant Partners will relocate its regional warehouse to the property from New Jersey this fall.
NEW YORK — Marcus & Millichap has arranged the sale of 32-34 Beekman Place, a 17-unit apartment property in New York for approximately $8 million. Peter Von Der Ahe, Joe Koicim and David Lloyd of Marcus & Millichap's Manhattan office represented the seller, a partnership. They also represented the buyer, a private investor. 32 Beekman Place is a five-story building containing nine studios, and 34 Beekman Place is a six-story building consisting of seven studios and a rooftop penthouse.
BOSTON — Invesco Real Estate Advisors has purchased a $128 million retail asset at 350 Washington St. in Boston. Located in Boston's Downtown Crossing shopping district, the building tenants include TJ Maxx, Marshalls, H&M and Town Sports International. Chris Angelone, Bill Moylan, Jim Koury, Nat Heald and Josh Klimkiewicz of CBRE's Boston office represented the seller, Real Estate Capital Partners. They also procured the buyer.
