ARLINGTON, MASS. — Bierbrier Development has procured a $6.6 million loan for the refinancing of Arlington Village Shops, a 25,000-square-foot retail center located in Arlington. Shawn Herlihy of Goedecke & Co. arranged the financing on behalf of Bierbrier through John Hancock Financial. The center was 90 percent leased at the time of closing by a tenant roster that includes Unleashed by PETCO, Hair Cuttery and The Meat House. The building is also seeking LEED certification.
NEW YORK CITY — Massey Knakal Realty Services has brokered the sale of two five-story apartment buildings on Manhattan's Upper East Side for $15 million. The elevator-served buildings are located at 530 and 534 E. 88th St. They feature 73 combined units in a mix of studio through two-bedroom residences. Of the units, 46 are free market, 19 are rent stabilized and nine are rent controlled. Massey Knakal's Thomas Gammino and Robert Knakal arranged the deal between the two undisclosed parties. The properties traded for $264 per square foot and a cap rate of approximately 4 percent.
CHELMSFORD, MASS. — CB Richard Ellis (CBRE)/New England has brokered the sale of a warehouse property located in Chelmsford for $2.75 million. The building is situated at 9 Alpha Road. It was constructed in 1966 and renovated in 1984. It features three 30,000-square-foot warehouse sections with 18-foot ceiling heights and loading docks. The remaining square footage is office space that contains offices, workrooms, meeting rooms, kitchenettes, bathrooms and a planning room. Mark Reardon and David Connolly of CBRE New England represented the seller, MassInnovation. The buyer was the Town of Chelmsford.
MILLBURY, MASS. — Boston-based EagleBridge Capital has arranged $3.47 million in permanent acquisition financing for a 31,340-square-foot industrial property in Millbury. The warehouse/distribution center is located on 5.8 acres at 10 Latti Farm Road. It features 26-foot ceiling heights and 19 loading docks. The borrower/buyer, Campanelli Cos., plans to redevelop the property by adding 10 loading docks and 10 parking space. The parking lot will also be resurfaced. Ted Sidel and Brian Sheehan of EagleBridge arranged the financing on behalf of Campanelli through a commercial bank. Peter Brown provided in-house representation to Campanelli in the acquisition, while the undisclosed seller was represented by Jason Madden and Michael Chapin of The Madden Group.
HINESBURG, VT. — Redstone has acquired the former Saputo Cheese facility in Hinesburg for $526,500. Situated on 15.4 acres off of Route 116, the 88,000-square-foot facility contains production and storage space, including refrigerated storage space, as well as office space. The owner plans to redevelop the property. Among the discussed uses are housing, a restaurant/brewpub and food-related businesses. Yves Bradley of Pomerlau Real Estate represented the seller, Saputo Cheese USA, Inc.
HARTFORD AND WATERBURY, CONN. — Arbor Commercial Funding has arranged two Fannie Mae DUS loans for multifamily properties in Connecticut. Stephen York of Arbor's New York City office secured $1.8 million for 12 Willard Street Apartments, a 61-unit community located in Hartford. John Edwards of Arbor's Boston office secured $1.43 million for Jersey Street Apartments, a 42-unit community located in Waterbury. Both loans carry a 10-year term and a 30-year amortization schedule.
WARWICK, R.I. — Eastern Mountain Sports is relocating its Cranston, R.I., location to Warwick. The outdoor sports retailer has signed a lease for 14,526 square feet at 1000 Bald Hill Road, a 73,023-square-foot strip center. The new location will open next spring. Linear Retail Properties is the property's owner.
CHESTER, N.J. — Stamford, Conn.-based Core Plus Partners has acquired a New Jersey lifestyle center from RREEF. The Streets of Chester is a 104,682-square-foot property located along Route 206. Its primary tenants include Coach, Chico's, Gap, Talbots, Coldwater Creek and Banana Republic. Carlo Caparruva of Fameco Real Estate represented both parties in the deal. The acquisition price was not disclosed.
WESTFORD, MASS. — Linear Retail Properties has acquired a freestanding Rite-Aid pharmacy in Westford for $3.4 million. The 15,103-square-foot building was constructed in 1995 and is located at the intersection of Route 110 and Littleton Road. Linear acquired the building from an affiliate of California-based Corporate Partners Property Group. Mike O'Mara of Eastern Net Lease Advisors represented Linear in the deal.
BROOKLAWN AND ELIZABETH, N.J. — The Kislak Company has brokered the sale of two New Jersey properties for a total of $4.8 million. The first property was Brooklawn Court Apartments, a 54-unit multifamily community located in Brooklawn. It traded for $2.9 million. The second property was an 18,360-square-foot office building located in Elizabeth. It sold for $1.9 million. Kislak's Joni Sweetwood represented the buyer in Brooklawn deal and the seller in the Elizabeth deal, which were the same party, as well as the seller in the Brooklawn deal. Kislak's Andrew Jonas represented the buyer in the Elizabeth deal.