HOLTSVILLE, N.Y. — Chatham Lodging Trust has acquired the Residence Inn by Marriott – Long Island for $21.3 million. Located at 25 Middle Ave. in Holtsville, the hotel contains 124 suites. Amenities include a fitness center, an indoor swimming pool and an outdoor sports court. Island Hospitality Management, an affiliate of Chatham, will manage the property. The seller's name was not disclosed.
COATESVILLE, PA. — CB Richard Ellis has brokered the sale of a 150,000-square-foot distribution facility in Coatesville for $26.05 million. Located at at 201 Waverly Blvd., the building is occupied by Keystone Foods under a triple-net lease. The facility contains dry and refrigerated storage space, cold and dry docks, freezer storage and ceiling heights up to 30 feet. The seller was KS Coatesville PA and the buyer was a private investor. Andrew Sandquist, Robert Brennan, Jonathan Wolfe, Mike Hines and Michael Blunt, all of CB Richard Ellis, helped arranged the deal.
DANBURY, CONN. — Hunter Gregory Realty has acquired a Class A office building located in Danbury from Phoenix Ridge LLC. Mountain View Corporate Center is a three-story, 65,000-square-foot building situated at 101 E. Ridge Dr. The building formerly housed GE Capital, which vacated the property in 2008. The lender, TD Bank, took control of the building in 2009. Michael Struna of Advantage Realty negotiated the deal.
NEW YORK CITY — The Treeline Companies has sold the former Brooklyn Savings Bank building to Midtown Equities Group for $33 million. The five-story, 87,000-square-foot property is located at 205 Montague St. in downtown Brooklyn. Occupancy is currently 100 percent. Two major banks lease the ground floor. Additional tenants include St. Vincent's Services and Massey Knakal Realty Services.
BURLINGTON, MASS. — Avid Technologies has opened its 203,000-square-foot world headquarters in the Boston suburb of Burlington. The audio and video production provider is leasing 203,000 square feet within Network Drive at Northwest Park for a 10-year term. Brian Hines and Mike Dalton of FHO Partners represented Avid in lease negotiations. Tamie Thompson, Dan Cordeau and Dan Kollar of Jones Lang LaSalle represented the landlord, Nordblom Co. Northwest Park is a seven-building, 258-acre office campus located near the interchange of Route 3 and Interstate 95. It contains a total of 950,000 square feet of space.
NORTH PLAINFIELD, N.J. — Weichert Commercial Brokerage has completed the sale of a 4.7-acre retail site located at 559 U.S. Highway 22 in North Plainfield. The property currently contains a two-story, 48,165-square-foot retail building that was owned and operated as Ray's Sport Shop up until the time of the sale. The building will be demolished by the buyer to make way for a new 19,629-square-foot service center for the adjacent Nissan auto dealership. Barry Feldman of Weichert represented the buyer and the seller.
COLLEGEVILLE, PA. — IMS Health Inc. has signed a lease for approximately 150,000 square feet of space in Collegeville. The tenant will occupy Highview I and Highview II, two office buildings within Providence Corporate Center. The buildings were formerly occupied by Pfizer, which exercised its option to vacate Highview II this year. It then negotiated an end to its lease of Highview I to accommodate IMS Health's lease. Ron Cariola of Jones Lang LaSalle represented IMS Health in lease negotiations. Whitney Hunter and Michael Morrone, also of Jones Lang LaSalle, represented the landlord.
NEW YORK CITY — Massey Knakal Realty Services has completed the sale of a 27,510-square-foot Brooklyn warehouse for $3 million. The two-story building is located at 158 Pioneer St. in the borough's Red Hook neighborhood. It features multiple loading bays, curb cuts and ceiling heights that go up to 40 feet. The building's second floor is office space. Massey Knakal 's Ken Freeman, John Ciraulo and Megan Flanagan arranged the deal between two undisclosed parties.
NEW YORK CITY — Beech Street Capital has secured $28.4 million in Fannie Mae DUS funds for the refinancing of two high-rise residential buildings located on Manhattan's Upper West Side. The two properties contain a total of 186 residences and three commercial units. The loans carry a fixed interest rate and a 7-year term with 6.5 years of yield maintenance on an actual/360 basis. Mindy Bergman of Meridian Capital Group originated the loan as part of its correspondent relationship with Beech Street.
NEW YORK CITY — The first move-ins have begun at 500 Fourth Avenue, a residential condominium tower located in Brooklyn's Park Slope neighborhood. The building contains 156 units in a mix of studio through three-bedroom residences. Units range in size from 539 to 1,456 square feet, prices range from $342,000 to $1.22 million. Amenities include a resident lounge, a landscaped terrace, a fitness center, a solarium, a children's playroom, doorman and concierge service, and an on-site parking garage. Matri Holdings owns the project, and the Kafati-Batarse Group of Prudential Douglas Elliman is its sales and marketing agent.