BERGEN, N.J. — CommonWealth REIT has purchased a Class A office building from Invesco Real Estate for $20.6 million in an all-cash deal. The 120,000-square-foot, Class A property is located at 5 Paragon Drive in Montvale. The building was fully leased at the time of closing. Tenants include Thomson Reuters, Doosan Engineering and Motorola. The Holliday Fenoglio Fowler team of Jose Cruz, Andrew Scandalios, Kevin O'Hearn and Jeffrey Julien represented the seller.
NEW YORK CITY — Meridian Capital Group has arranged a $22.3 million loan to refinance an eight-story, 65,000-square-foot office and retail building located on Fifth Avenue in Manhattan. The property was fully occupied at the time of closing. The mortgage carries a 10-year term and a fixed interest rate; it was provided by UBS Securities. The borrower was not disclosed.
NEW YORK CITY — OppenheimerFunds has signed a 15-year lease for 235,342 square feet at Two World Financial Center a 44-story, 2.3 million-square-foot office tower located in Lower Manhattan. The firm had previously been subleasing the space, which comprises a portion of the building's 10th floor and all of the 11th, 12th, 14th and 16th floors. The Cushman & Wakefield team of Stuart Romanoff, Amy Fox, Robert Constable and Maureen Kelly represented the tenant in lease negotiations. The landlord, Brookfield Properties, was represented in-house by Jerry Larkin and Duncan McCuaig.
NEW YORK CITY — Marcus & Millichap (M&M) has arranged a multifamily loan and brokered the sale of a multifamily property in New York City. First, Sean Mooney of M&M Capital Corp. arranged a $2.94 million loan to refinance a 19-unit apartment building located in Brooklyn's Park Slope neighborhood. The loan carries a 5.37 percent fixed interest rate and a 10-year term. In the second deal, a team from M&M's Manhattan office brokered the sale of a 12-unit apartment building located at 1899 7th Avenue in Manhattan for $1.8 million. The team of Peter Von Der Ahe, Scott Edelstein, Sean Lefkovits and Seth Glasser represented the seller and buyer. All parties involved in the two deals were not disclosed.
DOBBS FERRY AND HASTINGS ON HUDSON, N.Y. — Houlihan-Parnes Realtors has sold Osborn Manor Apartments, a 78-unit, garden-style apartment community located on 300 Broadway in Dobbs Ferry. The buyer's name was not released. In addition, Houlihan-Parnes secured a $13.05 million first mortgage for Hastings Terrace Apartments, a 120-unit community located at 555-565 Broadway in Hastings on Hudson. The loan carries a 4.5 percent note rate with interest-only payments for the first 2 years, a 5-year term after that, and a 5-year extension option. The lender was a local savings bank.
WHIPPANY, N.J. — A partnership between Vision Equities and Rubenstein Partners has purchased Alcatel-Lucent's former campus in Whippany. Located on 194 acres at 67 Whippany Road, the property consists of 15 office, laboratory and support buildings. The 1.4 million-square-foot campus was vacant at the time of the sale. The Cushman & Wakefield team of David Bernhaut and Robert Donnelly, Jr., represented the seller and procured the buyer. The acquisition price was not released, but it recently appraised for more than $42 million.
NEW YORK CITY — Discount grocer ALDI has opened its first New York City location. That store is located at 61-11 Junction Blvd. in Queens' Rego Park neighborhood. The grocer also plans to open stores in the Bronx and in the Long Island community of Bay Shore in the near future.
NEW YORK CITY — Time Equities has purchased two Manhattan apartment buildings for $3.65 million. The buildings are located at 153 and 155 E. 37th St. in the Murray Hill neighborhood. They were originally constructed as two separate townhomes but converted into one-bedroom apartments in the 1950s. Christopher Sjurset of Marcus & Millichap and Todd Jacobs of Bold New York represented the undisclosed seller. Hy Schermer provided in-house representation for Time Equities.
PENNSYLVANIA — KBS Real Estate Investment Trust II has purchased a 1.6 million-square-foot Pennsylvania industrial portfolio for $90 million. The portfolio contains four properties located at 325 CenterPoint Blvd. in Pittston, 125 Capital Road in Pittston, 550 Oak Ridge Road in Hazleton and 14-46 Alberigi Dr. in Jessup. The first three buildings are wholly leased to Kimberly-Clark, Grupo Bimbo and Amazon.com, respectively. The final building is fully leased to four tenants. KBS Capital Advisors provided in-house representation to the REIT. Michael Hines and Michael Blunt of the Philadelphia office of CB Richard Ellis represented the undisclosed seller.
EAST MARION, N.Y. — Marcus & Millichap has completed the sale of a Long Island hotel for $2.02 million. Inn at the Blue is a 29-room boutique property located in East Marion. Christopher Marks and Sean Mooney of Marcus & Millichap Capital Corp. represented the seller, a financial institution. Ken Hoff of Marcus & Millichap's Manhattan office represented the buyer, which owns another hotel on Long Island.
