NEW YORK CITY — RKF Investment Sales & Advisory Services has brokered the $11.05 million sale of a 2,928-square-foot retail condominium, located at 123 Third Ave. in New York City. The property is fully leased to Capital One Bank. Jeff Fishman, Ariel Schuster, Brian Segall and Jonathan Butwin of the firm's New York City office represented the seller, 123 Third Ave. Partners, and procured the buyer, a private investment group.
Northeast
MANSFIELD, MASS. — Marcus & Millichap has negotiated the $10.37 million sale of the 23,840-square-foot Mansfield Marketplace, located at 295 School St. in Mansfield. The property consists of eight tenants in two buildings. Robert Horvath and Todd Tremblay of the firm's Waltham, Mass., office represented the seller, Hecht Development, and procured the buyer, the Davos Family Trust.
BOGOTA, N.J. — Livingston, N.J.-based Gebroe-Hammer Associates has closed the sale of a 44-unit building, located at 112-128 East Lee Rd. in Bogota, for $3.6 million. Greg Pine represented the seller, East Fort Lee Road Corp., and procured the buyer.
BOSTON — Chesapeake Lodging Trust has secured a $95 million, fixed-rate loan for the 498-room Hyatt Regency Boston, located in Boston. The 5-year loan has a 30-year amortization schedule and was provided by Goldman Sachs Commercial Mortgage. The financing will be used to repay outstanding borrowings under the company's revolving credit facility and for general business purposes.
KING OF PRUSSIA, PA. — Rochester, N.Y.-based Wegmans Food Markets, Inc., has broken ground on a new 123,070-square-foot store in the 125-acre, mixed-use development The Village at Valley Forge in King of Prussia. Additionally, the company signed a 12,000-square-foot lease on an adjacent parcel for Next Door Bar & Grill, a restaurant concept owned by Wegman's. Gerald Divaris and Erica Meekins of Divaris Real Estate's Virginia Beach, Va., office represented the landlord, Realen Valley Forge Greenes Associates, in the lease transaction. DRE is the leasing agent for The Village at Valley Forge.
STAMFORD, CT. — CB Richard Ellis' New York Institutional Group has brokered the $17 million REO sale of a 103,367-square-foot office building, located at 750 East Main St. in Stamford. Jeffrey Dunne, Steven Bardsley and David Gavin of the firm's Stamford office represented the seller, 750 Acquisition Co., and procured the buyer, East Main Street Equity Partners, an entity controlled by Aegean Capital.
HUDSON, N.Y. — Kaz, Inc., has sold a 195,000-square-foot manufacturing building in Hudson to NEFG, who will lease the property to Washington, N.C.-based Flanders Corp. Jim Panczykowski of Philadelphia-based Binswanger represented the seller in the transaction.
VOORHEES, N.J. — Ross Dress for Less has signed a 25,000-square-foot lease to become an anchor tenant at the 227,314-square-foot Eagle Plaza in Voorhees. The store will open in the spring of 2012. David Dunkelman of Colliers International's Philadelphia office represented the landlord, Eagle Plaza Associates, an affiliate of Pettinaro.
NEW YORK CITY – Hersha Hospitality Trust has signed an agreement to acquire the 175-room Hyatt Union Square Hotel in New York City for $104.1 million after the seller completes construction. The four-star hotel is expected to open in 2012 and will feature a destination lobby bar, rooftop lounge, private terraces, a fitness facility and a pool. Consideration to the seller included the assumption of two mortgage loans totaling $55 million that were secured by the buyer. Hersha will manage the hotel upon completion of the acquisition.
NORTH HAVEN, CONN. – New York-based ClearRock Properties has purchased a 374,000-square-foot warehouse, located at 297 State St. in North Haven for $3.5 million. The sellers have plans for $3.5 million in redevelopments, which will include replacing the electric and heating systems, as well as repairing the roof, loading docks and parking areas. Sean Duffey and Damon Bower of Cushman & Wakefield represented the seller, World Color Northeast Graphics Corp., and CBRE acted as the broker for ClearRock and the leasing agent.