WEST CHESTER, PA. — Grubb & Ellis Company has completed the sale of 31,700 square feet of office space located at 1210 Ward Ave. in West Chester. The space was purchased by Synthes USA from Bryn Mawr Mall Associates for an undisclosed price. Grubb & Ellis’ John Perkins facilitated the transaction. The buyer will occupy the entire one-story building, which previously had been vacant.
NEW YORK CITY — NAI Friedland Realty has brokered the $5.19 million sale of 4401 Bronx Boulevard, a 40,000-square-foot building located in the Bronx, New York City. Also known as the Farrand Building, the facility is located in the North Bronx at the corner of Nereid Avenue. Rick Stassa of NAI Friedland represented both the buyer, Montefiore Medical Center, and seller in the transaction. The property had been operated by Our Lady of Mercy Medical as a rehabilitation center for substance abuse and counseling. Medical research had also been done at the building. Montefiore will continue to use the building in the same capacity.
NEW YORK CITY — Winoker Realty Company has completed the $1.73 million sale of a 2,700-square-foot office condominium located at 305 Seventh Ave. in Manhattan, New York City. Jonata Dayan and Adam Ben-Dayan of Winoker Realty represented the buyer, a real estate holding company. The seller, a non-profit organization that owned the space for the last 10 years, was represented by Leith ter Meulen of LPR Realty, an affiliate of LandAir Project Resources, Inc. that works exclusively with not-for-profit groups.
NEW YORK CITY — Construction has commenced for the New Settlement Community Campus, an $83 million civic project located in the Mt. Eden neighborhood of the Bronx, New York City. The 172,000-square-foot project will be situated at 1501 Jerome Ave. It will comprise two schools and a community center that features an indoor swimming facility. The schools consist of a separate facilities for primary and intermediate/high school students, with the two schools sharing a campus library, an auditorium and a gymnasium. School facilities such as the gymnasium, library and playground will serve the community after school hours. Completion is slated for 2012. The project is being co-developed by Settlement Housing Fund (SHF) and the New York City School Construction Authority. The project architects are Dattner Architects and Edelman Sultan Knox Wood Architects. Turner Construction Co. is the general contractor. Upon completion, the Department of Education will own the school and New Settlement Apartments, a division of SHF, will operate the community center as well as manage the center and the school.
SOUTHINGTON, CONN. — Jones Lang LaSalle (JLL) has brokered the sale of Queen Plaza, 172,000-square-foot shopping center located in Southington. The property is anchored by TJ Maxx and Bed Bath & Beyond; additional tenants include Bob’s Discount Furniture, Dollar Tree, Fashion Bug and Radio Shack. Occupancy was 97 percent at the time of closing. The buyer, R.K. Associates, has subsequently renamed the property RK Queen Plaza. JLL brokers Jim Koury, Nathaniel Heald and Robert Borden represented the seller, Centro Properties Group, and procured the buyer. The acquisition price was not disclosed.
POTTSTOWN, PA. — The grand opening has been held for an expansion to Montgomery County Community College’s West Campus, located in Pottstown. Known as the North Hall Facility, the 50,000-square-foot building consists of the adaptive reuse of 16 High Street, also known as the former Vaughn Knitting Mill. The facility contains seven classrooms, faculty offices, an art gallery and studios and continuing education offices. Construction also includes the rehabilitation of a pedestrian underpass, which connects the school to downtown Pottstown. The developer was Vesper Property Group, the projects architect was A.I.A. Architects and the general contractor is Clemens Construction Co.
ROCKLEDGE, PA. — Conshohocken, Pa.-based Equity Retail Brokers has completed the sale of a 38,000-square-foot neighborhood shopping center located in Rockledge. Situated on approximately 2.25 acres at 410-412 Huntingdon Pike, the center is anchored by Blockbuster Video; additional tenants include Pennsylvania Wine & Spirits, Acker’s Hardware and Vincent’s Pizza. Bart Delfiner and Edward Ginn of Equity Retail Brokers represented the undisclosed seller. Good Rock Realty Partners purchased the center and plans to continue day-to-day operations.
ELMIRA, N.Y. — An affiliate of Aries capital, Urban Development Fund LLC, has provided $15 million for the renovation of the Clemens Center in Elmira. The $24.5 million project will include upgrading the stage areas, dressing rooms, work areas and building technology. The funding was made possible by an allocation of New Market Tax Credits. This loan is one of two $15 million loans Urban Development Fund is providing for the project. The construction timetable for the project was not released. The Clemens Center consists of the 1,608-seat Powers Theater and the 200-seat Mandeville Hall.
BOYERTOWN, PA. — Retail Sites LLC has started construction on Douglass Town Center, a 90,000-square-foot shopping center in Boyertown. The project is located on an 11-acre site at the intersection of Route 100 and County Line Road. Tenants include a 70,000-square-foot Giant Foods Supermarket, a Hallmark Gold Crown Card store, Hair Cuttery and a dry cleaner. This will be Giants second new store in the Route 100 corridor. Three to four additional stores and an out-parcel for a bank or restaurant are also available. Additional improvements include a significant realignment and reconstruction of County Line and Holly Roads.
WEST NEW YORK, N.J. — The Kislak Company has completed the $7.725 million sale of a four-building portfolio consisting of 97 apartments and two retail spaces in West New York. The sale included a 37-unit property at 6611 Broadway, a 17-unit property with one retail space at 5902 Madison St., a 19-unit property with one retail space at 6120 Monroe Place, and a 24-unit property at 6204 – 6210 Palisade Ave. Donald Baxter and Jonathan Greenberg of Kislak represented both parties, private investors, in the transaction. 6611 Broadway is a five-story brick walk-up building with studio and one-bedroom apartments. 5902 Madison Street is a four-story brick walk-up building with studio, one and two bedroom apartments. 6120 Monroe Place and 6204 – 6210 Palisade Avenue are four-story walk-up buildings with one- and two-bedroom apartments. The seller completed a number of utility and other upgrades over the past several years. The buyer's financing was arranged by Elliot Treitel of Meridian Capital. The buyer was represented by Larry Raiss, Esq. of Feinstein Raiss Kelin & Booker of West Orange, New Jersey, and the seller was represented by Jonathan R. Mehl, Esq. of Rutherford, New Jersey.