NEW YORK CITY — First Market Properties has acquired a non-performing loan portfolio. The portfolio contains 25 mortgages secured by multifamily communities located in Brooklyn, Queens and the Bronx. First Market acquired the portfolio for $11.53 million at a discount of approximately 35 percent on the current unpaid principal.
CHELMSFORD, MASS. — Parsons Commercial Group (PCG) has brokered the relocation of a technology firm to 300 Apollo Drive in Chelmsford. The undisclosed company is leasing approximately 60,000 square feet, which represents an expansion from its previous location at 100 Apollo Drive. The company will move in by April. Marci Alvarado of PCG represented the tenant in lease negotiations. Greg Cahill of Lincoln Property Co. reprsented the landlord, Chelmsford Associations.
HUDSON, N.H. — Tinkham Realty has brokered the sale of a 24,000-square-foot industrial building in Hudson for $1 million. Located on 2.64 acres at 19 Executive Drive, the property features 17-foot clear ceilings, two loading docks and 4,720 square feet of office space. The building will soon be occupied by Airex Filter Corp., which is relocating from a nearby facility. William Zolla of Tinkham represented the buyer, Stonehill Realty. The sellers were Debra Nash and Priscilla Clegg.
NEW YORK CITY — A joint venture between ING Clarion Partners and William Macklowe Co. has purchased a Manhattan office building for $45.2 million. The property is a six-story, 90,000-square-foot office building located at 636 Avenue of the Americas. The building was constructed circa 1900. It features 20,000 square feet of ground-floor retail space that is occupied by Sports Authority as well as developable air rights that would allow for the creation of a penthouse atop the existing roof. Darcy Stacom, Bill Shanahan, Paul Leibowitz and Robert Garrish of CB Richard Ellis represented the seller, APF Properties. The acquisition is Macklowe’s first following the formation of the company five months ago.
WATERTOWN, MASS. — Jones Lang LaSalle (JLL) has brokered the sale of two office buildings located in Watertown. Situated at 480 Pleasant St. and 5 Bridge St., the four-story buildings contain a total of 203,395 square feet. Originally constructed for use as mills, the waterfront properties are part of an 11-acre business campus. They contain a total of 40,000 square feet of clean room space as well as 800 parking spaces. JLL’s Bill Bailey and Scott Jamieson represented the seller, Boston Scientific Corp. The buyer was Farley White Interests. JLL will also assume leasing responsibilities for the property.
SOMERSET, N.J. — Prudential has disposed of a four building research and development campus located in Somerset. The buyer was an undisclosed investment group. The campus totals 174,892 square feet and is located on 24 acres at 101 Mettlers Road. It was most recently occupied by Exxon Biomedical but is now vacant. David Bernhaut, Gary Gabriel, Tom Walsh and Robert Donnelly, Jr., of Cushman & Wakefield represented the seller and procured the buyer. The acquisition price was not disclosed.
PARSIPPANY, N.J. — CB Richard Ellis (CBRE) Realty Trust has purchased the Deloitte building in Parsippany. The seller is a joint venture between The Hampshire Companies, Mack-Cali Realty Corp. and J.P. Morgan Asset Management. The property is a five-story, 175,000-square-foot office building, which was built in 2007. It is located at 100 Kimball Drive within the 90-acre Centre of Morris County office campus. Deloitte occupies the entire building through 2020. Adam Spies of Eastdil Realty represented the sellers in the deal. The purchase price was not disclosed.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a residential building in Manhattan for $37.96 million. The building is located at 401 W. 56th St. in the neighborhood of Hell’s Kitchen. It contains 95 units as well as 14,370 square feet of retail space. Forty of the apartment units are rented at below-market rates, and two of the restaurant tenants are under long-term leases. Alan Miller of Eastern Consolidated represented the seller, Stonehenge Partners. Peter Carillo, also of Eastern Consolidated, procured the buyer, a local real estate operator.
VALLEY FORGE, PA. — PMZ Realty Capital has arranged $13 million in construction financing for a new hotel. The Sheraton Valley Forge will contain 185 rooms and 20,000 square feet of meeting space. It is being built in the Philadelphia suburb of Valley Forge. The lender is a regional bank. The borrower’s name was not disclosed.
WILLISTON, VT. — Redstone has brokered the sale of a 12,400-square-foot commercial building located at 4-8 Leroy Road in Williston. Doug Nedde of Redstone represented the seller, Robert Berman. The buyer was Gordon Clements, which plans to relocate his business, Gordon’s Window Decor, to the facility. Acquisition financing was provided by Northfield Savings Bank.