LOWER MACUNGIE, PA. — Allen Distribution has acquired a 580,000-square-foot facility in Lower Macungie’s Lehigh Valley Crossing, located at 3041 Schoneck Rd., from Sacramento, Calif.-based Panettoni Development Co. Kim Meincke and John Van Buskirk of Jones Lang LaSalle represented the buyer, and Bill Wolf and Sean Bleiler of the Allentown, Pa. CBRE office represented the seller.
MASHPEE, MASS. — Boston-based Fantini & Gorga has arranged $25.25 million financing for the 156,000-square-foot, multi-phased South Cape Village, located in Mashpee. The property was developed by C. Talanian Realty and features a Marshalls, Walgreens and Roche Bros. supermarket. The financing, provided by a New England-based financial institution, represents a refinance of the borrower’s construction debt, plus closing costs and allowed the borrower to fund future construction needs and recapture equity.
BROOKLYN, N.Y. — CPEX Real Estate Services Development and Conversion has arranged the $6.5 million sale of a 12,340-square-foot R8-A Residential zoned lot located at 385-393 4th Ave. in Brooklyn. The current plan for construction is 52 residential units totaling 60,580 square feet of residential space and 3,330-square-feet of community use space. Brian Leary, Sean Kelly and Cengiz Sendogdular secured the financing, which was provided by 6th Street Development. The purchaser of this property is a New York-based developer that focuses on building residential rental buildings.
BRIDGEPORT, CONN. — White Plains, N.Y.-based Houlihan-Parnes Realtors has arranged $1.26 million in first mortgage financing for the acquisition of two apartment buildings totaling 48 units and two commercial units in Bridgeport. The properties were sold as a short sale for $1.68 million. The 10-year loan was provided by a Connecticut-based savings bank with a 25-year amortization schedule.
AVON, MASS. — Cushman & Wakefield Sonnenblick Goldman has arranged a $7.85 million fixed-rate mortgage on behalf of a joint venture between Condyne and The Davis Cos. for the acquisition of a 248,000-square-foot industrial warehouse and distribution facility located at 80 Stockwell Dr. in Avon. Richard Swartz and Jay Wagner of the firm’s Boston office secured financing for the property through Brookline Bank.
GLEN FALLS, N.Y. — Scott DeVinney of NorthMarq Capital’s Rochester, N.Y., office has arranged $4 million in first-mortgage financing for a mixed-use property located on Warren Street in Glen Falls. The financing was secured through M & T Bank and was based on a 7-year term with a 25-year amortization schedule. The property contains 27 apartment units and 20,000 square feet of office space.
WINDHAM, CONN., & NORTH KINGSTOWN, R.I. — Boston-based EagleBridge Capital has arranged $2.09 million in permanent mortgage financing for retail properties located in Connecticut and Rhode Island. In Windham, EagleBridge arranged financing for a 7,000-square-foot building, located at 320 Boston Post Rd., which is leased to Advance Auto Parts. In North Kingstown, EagleBridge secured financing for the 4,850-square-foot AT&T Plaza, located at 6070 Post Rd. The property is leased to AT&T Wireless and Great Harvest Bread Co. Brian Sheehan and Ted Sidel of EagleBridge secured the financing, which was provided by a regional financial institution.
OCEANSIDE, N.Y. — Lev Kimyagarov of New York-based Massey Knakal has arranged the $1.08 million sale of a 15,645-square-foot retail development site in Oceanside, located between Weidner and Montgomery Avenues. The 26,000-square-foot site includes a 15,645-square-foot retail building and a single-family home.
CLINTON, MASS. — KBS Capital Advisors, an affiliate of Newport Beach, Calif.-based KBS Realty Advisors, has signed a 48,000-square-foot lease with Worcester, Mass.-based ECM Plastics at 111 Adams Rd. in Clinton, which is part of Adams Road Industrial Park. ECM Plastics will use the lease to expand its business to Clinton. James Stubblebine of Lexington, Mass.-based Stubblebine Co. represented KBS, and ECM Plastics was self-represented.
DANBURY, CONN. — Phoenix Realty Group and Paredim Partners have acquired a 192-unit Hillcroft at Danbury for $27.65 million. Paredim’s upgrades are expected to be $1 million and will focus on landscaping, open spaces, apartment finishes, expansion of the fitness center and covered parking. These upgrades are scheduled to be completed in 12 to 18 months. Marcus & Millichap represented the seller, Fairfield Hillcroft, in the transaction.