NEW ROCHELLE, N.Y. — CB Richard Ellis (CBRE) has arranged the purchase of a 111,563-square-foot warehouse located in New Rochelle for $5.6 million. Situated on 3.75 acres at 30 Pine St., the single-story building features ceiling heights ranging from 14 to 20 feet. The Pearlgreen Corporation purchased the building and plans to move in by spring 2010. William Cuddy, Budd Wiesenberg and Kevin Langtry of CBRE’s Stamford, Conn., office represented the seller, Bakers Pride Oven Co., in the transaction. The same CBRE team also represented Bakers Pride in the leasing of a new property at 145 Huguenot St. for its customer service department. The company’s assembly and distribution operations, which also were previously located at the Pine Street facility, will move to a company-owned facility in New Jersey. Joel Feinberg of Feinberg Bros. represented Pearlgreen in the acquisition.
LAKE GROVE, N.Y. — Centro Properties Group has opened a new R Superstore within DSW Plaza in Lake Grove. The 71,343-square-foot store features full-size Toys ‘R Us and Babies ‘R Us locations under one roof. The space was formerly occupied by Stop & Shop but was turned over to Toys ‘R Us in February. Construction consisted of a new storefront façade, new loading docks and the reconfiguring of the parking lot. Centro invested approximately $200,000 in the project. Ronkonkoma, N.Y.-based Lakota Construction served as general contractor.
NEW YORK CITY — Massey Knakal Realty Services has arranged the sale of a residential building and an adjacent development site located in Harlem, New York City, for $21.92 million. The first part of the transaction consists of a six-story, 120-unit affordable housing building that is situated on Fifth Avenue between West 116th and 117th streets. The second component of the deal is an approximately 44,402-square-foot, L-shaped lot that takes up the remainder of the block. The buyer, L&M Equities, plans to continue to operate the residential building as affordable housing. Plans for lot call for a building between 180,000 and 260,000 square feet in size. Shimon Shkury and Tom Donovan of Massey Knakal represented the seller, Metrovest Equities.
NEW YORK CITY — Nonprofit organization Community Counseling & Mediation has acquired a development site located at 226 Linden Blvd. in the Flatbush neighborhood of Brooklyn, New York City, for $1.45 million. The site has been approved for the development of a 71-unit residential building. Including air rights that were previously purchased from an adjacent lot, the total amount of buildable space for the site is 59,629 square feet, including parking. Ofer Cohen of TerraCRG represented the undisclosed seller. Shay Zach of Itzhaki Properties also helped broker the deal.
FAIR HAVEN, CONN. — Press/Cuozzo Realtors has brokered the sale of the former East Pearl Street United Methodist Church located at 95-99 E. Pearl St. in Fair Haven. The 7,929-square-foot church was constructed in 1873. It features a sanctuary with seating for more than 200 people, a kitchen and dining areas, a side ante room and second-floor recreation areas. It traded for $350,000. John Cuozzo, Jr. of Press/Cuozzo represented the seller, East Pearl Street United Methodist Church, as well as the buyer, The Pentacostal Church of God IM.
UNITY, N.H. — Groundbreaking has occurred for Phase II of the expansion of Sullivan County Community Corrections Center in Unity. This phase of construction will add approximately 20,000 square feet to the jail building, consisting of an additional 70 beds as well as areas for in-treatment and work release programs. Completion is slated for mid-2010. Phase I of the project is approximately 80 percent complete and should be finished by the end of the year. North Branch Construction is serving as construction manager, with Sheerr McCrystal Palson serving as project architect.
BOSTON — Boston-based Fantini & Gorga has arranged $23.75 million in first-mortgage financing for a CVS/pharmacy portfolio. The portfolio consists of 10 retail pharmacies located in 10 states across the country. Some of the properties are situated in strong suburban locations in major metropolitan markets such as Atlanta, Chicago, Dallas, Detroit and Phoenix. Keith Wentzel of Fantini & Gorga arranged the loan on behalf of the undisclosed borrower through one of the intermediary's national life insurance correspondents. Terms of the financing were not released.
PARSIPPANY AND PRINCETON, N.J. — Cushman & Wakefield (C&W) has brokered headquarters leases for two companies in New Jersey for a total of 178,000 square feet. In the first deal, Solix Inc. signed a new lease for the entire 56,000-square-foot office building located at 30 Lanidex Plaza in Parsippany. The tenant will be consolidating its two operations located in Whippany, N.J., into the new location. The team of Peter Hamburger, Robert Rudin, Walter Schoenberg, Harlan Hollander and Jan Randall from C&W's East Rutherford, N.J., office represented the tenant in lease negotiations. Susan Mason of Jones Lang LaSalle represented the landlord, Ivy Equities. In the second deal, PharmaNet Development Group renewed its lease for the entire 122,000-square-foot office building located at 504 Carnegie Center in Princeton. Schoenberg, along with Jeff Barker and Kim Finnerty of Cushman & Wakefield's Philadelphia office, represented the tenant in lease negotiations. The landlord is Boston Properties.
MIDDLETOWN, CONN. — NorthMarq Capital has secured $3.3 million first-mortgage construction/permanent financing for a new 14,820-square-foot Walgreens located at the intersection of Main Street Extension and Saybrook Road in Middletown. The financing includes a 12-month construction loan followed by a 6-year permanent loan with a 30-year amortization schedule. Ernest DesRochers and Deanna Polizzo of NorthMarq's New York Metro Regional office arranged the loan on behalf of the borrower, Sound Middleton LLC. The lender was an undisclosed regional bank.
PORT WASHINGTON, N.Y. — The grand opening has been held for Pall Corp.'s new corporate headquarters located in Port Washington. The new 276,000-square-foot facility is situated at 25 Harbor Park Dr. Designed by Spector Group, the building can house more than 500 employees and features state-of-the-art research and customer support laboratories, as well as offices for corporate management, sales and marketing. The new facility will consolidate Pall Corp.'s laboratory and administrative operations, which were previously split between Port Washington and East Hills, N.Y. The project utilized a variety of sustainable features, including construction recycling and numerous energy-efficient building systems. Financial assistance for the project was provided by the Nassau County Industrial Development Agency.