TRUMBULL, CONN. – Cushman & Wakefield has completed the sale of Trefoil Park, a five-building, 230,677-square-foot office park in Trumbull, Conn. The park is 92 percent leased and tenants include Office Depot and Sun Products. Thomas Leary, David Bernhaut and Grace Braverman of Cushman & Wakefield represented the seller, Boston-based New Boston Fund Inc. They also represented the buyer, The Silverman Group.
PARAMUS, N.J. — Construction is complete on a new $5.5 million student center at Bergen Community College, a 15,000 student college in Paramus, N.J. The redesign included re-configuring the interior space, adding a main entrance and additional seating. The total renovated area of the center totals more than 16,000 square feet. Hasbrouck Heights, N.J.-based DMR Architects and Arco Construction Group worked on the project. The new center will help the college accommodate increases in student population, and the building opened Oct. 18.
CANTON, MASS. — Boston-based Eagle Bridge Capital has arranged $2.7 million in permanent mortgage financing for 115 Shawn Rd. in Canton, Mass. Located in Shawmut Industrial Park, the building is a 55,000-square-foot multi-tenant warehouse/distribution building. The property is fully leased to Analog Devices, Delta Beckwith and Akers Industries. The mortgage financing was arranged for JPerll Associates by Ted Sidel and Brian Sheehan and was provided by a regional financial institution.
QUEENS, N.Y. — Marcus & Millichap Real Estate Investment Services has arranged the $1.7 million sale of a six-unit apartment building, located at 3080 37th St. in Queens, N.Y. Matthew Fotis and Lazarus Apostolidis of Marcus & Millichap's Manhattan office, represented the seller, a private investor. They also represented the buyer, who was undisclosed.
VORHEES, N.J. — Marcus & Millichap Real Estate Investment Services has negotiated the $15.9 million sale of a retail condominium in Vorhees, N.J. net-leased to BJ's Wholesale Club. Matthew Gorman, Tom Gorman and Michael Shover of Marcus & Milllichap's Philadelphia office represented the seller, a local developer. The Gormans and Shover also teamed with Marcus & Millichap's Mark Taylor and Dean Zang to represent the buyer, H&R Reit of Canada. The 115,396-square-foot property was developed as a reverse built-to-suit for BJ's Wholesale Club in 2004. BJ's has 13 years of term remaining on the 20-year lease.
DOVER, DEL. — NorthMarq Capital has arranged $18.9 million in first mortgage financing for Eagle Meadows, a 294-unit multifamily complex, located at 4666 Carolina St. in Dover, Del. Financing was based on a 10-year term with a 30-year amortization schedule. Sam Berns of NorthMarq arranged the financing through the company's affiliate, Amerisphere Multifamily Finance LLC, a Fannie Mae DUS lender.
HARLEYSVILLE, PA. — King of Prussia, Pa.-based Jack Horner Communications Inc., a public relations firm, has purchased the former Harleysville National Bank Building in Harleysville, Pa. The two-story, 11,381-square-foot building is located at 474 Main St. The Harleysville National Bank property was previously owned by First Niagara, which also financed the transaction. Jack Horner Communications plans to renovate and move into the space in January from its current headquarters. Terry Derstine of Harleysville-based Prudential Rittenhouse Realty Group represented both parties in the transaction.
PHILADELPHIA — Malvern, Pa.-based Liberty Property Trust, in joint partnership with Parkway Corp., has broken ground on Pennsylvania Medicine at Washington Square, a new 12-story medical facility in Philadelphia. The 153,242-square-foot high-rise will be developed atop an existing parking garage on the southwest corner of 8th and Walnut Streets. Pennsylvania Medicine has signed a 20 year lease for the facility. Liberty's investment in the project will be $49.6 million and Pennsylvania Medicine will invest $22 million for the interior fit-out. The building is scheduled to open in the summer of 2013. Pennsylvania Medicine at Washington Square will house outpatient services for Pennsylvania Hospital.
MANHATTAN — New York-based Massey Knakal Realty Services has completed the sale of a 40-unit apartment building, located at 712 W. 176th St. in Northern Manhattan's Washington Heights neighborhood, for $5.3 million. Robert Shapiro of Massey Knakal represented the seller, Oak Point Management, in the transaction. The buyer was undisclosed.
MILTON, MASS. — Boston-based NAI Hunneman has completed the $3 million sale of 180 Blue Hill Ave. in Milton, Mass. David Ross and Gina Barroso represented the seller, Temple Shalom of Milton, and procured the buyer, Concord Baptist Church of Boston. The 22,000-square-foot masonry building is situated on nearly four acres.
