ROCHESTER, N.Y. — Rochester-based Broadstone Net Lease Inc., a real estate investment trust (REIT), has acquired six net-leased properties for a combined price of $16.8 million. All six properties were acquired in sale and lease back transactions. The six properties include: Taco Bell in Ripley, Tenn. 49,000-square-foot Filtration Group Inc. site in York, S.C. 80,171-square-foot Filtration Group Inc. site in St. Joseph, Mo. 85,432-square-foot Cablecraft Motions Control site in Tacoma, Wash. 75,000-square-foot Cablecraft Motions Control site in St. Matthews, S.C. 120,000-square-foot Cablecraft Motions Control site in New Haven, Ind.
MARS, PA. — The Shoppes at Adams Ridge, a 49,060-square-foot, grocery-anchored shopping center at 300-920 Adams Ridge Rd. in Mars, has been sold for $10 million. McGinnis Sisters, a specialty grocery store, anchors the center. Steven Siegel of Marcus & Millichap's Manhattan office represented the undisclosed seller, while Erin Patton, Scott Wiles and Craig Fuller represented the undisclosed buyer. Tenants in the shopping center include Dairy Queen, Citizens Bank, McGinnis, Great Clips, Pizza Hut, Stonepepper's Grill and Verizon Wireless.
NEW YORK CITY — NorthMarq Capital has arranged $3.7 million in first mortgage financing for 340 E. 86th St. in New York City, a mixed-use development consisting of 15 residential units and a ground floor retail space. Robert Ranieri of NorthMarq's Capital Services East Group arranged the financing based on a 30-year term and a 30-year amortization schedule for the borrower, Davenport Realty, through AmeriSphere Multifamily Finance.
NEW YORK CITY — The Arker Companies, an affordable housing developer, has broken ground on two properties totaling 182 units in the Richmond Hills neighborhood in Queens in New York City. The projects are the 65-unit Richmond Hill Senior Living Residences and the 117-unit Richmond Place. Richmond Hill Senior Living Residences is a six-story, 62,500-square-foot property that will provide housing options for elderly residents with incomes below 60 percent of the area's median income. The project is being financed through 9 percent low-income housing credits and state low-income housing credits, which Bank of America will be collectively purchasing for $16.7 million. Bank of America is also providing a construction loan that will go toward the $20 million development cost. Richmond Place, a seven-story, 136,300-square-foot project, will include 13 studios, 28 one-bedrooms, 68 two-bedrooms and seven three-bedrooms. One-fifth of Richmond Place's units will be reserved for the homeless. Housing Development Corp. will issue $17.5 million in tax-exempt bonds for construction financing.
NEW YORK CITY — General Growth Properties Inc. has refinanced its Staten Island Mall for $273 million. The loan is a 12-year fixed rate mortgage, which replaces a $273 million loan that was scheduled to mature in October 2015. The new financing removes $125 million of corporate recourse associated with the first loan.
HOLTSVILLE, N.Y. — An institutional investor has purchased 5000 Corporate Ct., a Class A office property in Holtsville, for $39.25 million. The property sits on 37 acres and is currently 82 percent leased to tenants such as Department of Internal Revenue Services (IRS) Compliance, IRS Appeals and the Bureau of Customs and Immigration Services. Jones Lang LaSalle Capital Market's Joe Garibaldi, Peter Nicoletti, Tom Walsh and Ray Ruiz represented the seller, Piedmont Office Realty Trust, in the transaction.
BOSTON — Cresset Development has purchased the former Bowne & Co. headquarters at 411 D St. in Boston's South Boston Waterfront. The two-story office/production building spans 74,000 square feet and sits on 1.52 acres. John Cremmen of Jones Lang LaSalle represented Cresset, while Ed Jarosz and David Corkey of CB Richard Ellis represented the seller.
SYRACUSE, N.Y. — Minneapolis-based NorthMarq Capital has arranged $6.55 million in first mortgage financing for Woodbine Warehouse, a 200,000-square-foot industrial facility at 5717 Enterprise Pkwy. in Syracuse. NorthMarq's Michael James arranged the financing based on a 10-year term with a 15-year amortization schedule through NorthMarq's correspondent relationship with Sun Life of Canada.
NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged a $31.7 million refinancing loan for a nine-property multifamily and retail portfolio in New York City. The portfolio consists of 122 residential units and 14 retail units. Gerald Kray, Jake Roberts and Anita Paryani arranged the financing based on a 10-year term and a 30-year amortization schedule through a regional bank. The loan is fixed at 5.5 percent and features a 70 percent loan-to-value ratio. The borrower is a family that wishes to remain anonymous.
MOORESTOWN, N.J. — A 78,475-square-foot office/flex facility at 1601 Schlumberger Dr. in Moorestown has been sold. The one-story facility features 13,500 square feet of office space, 22-foot high ceiling and an open floorplan. The buyer, 1601 Schlumberger LLC, plans to lease the office space and use the warehouse for storage. Binswanger's Marc Policarpo and Bob Corr represented the seller, First Industrial Realty Trust, Inc., while Marc Isdaner of Colliers International represented 1601 Schlumberger.