HACKENSACK, N.J. — The Hampshire Companies will complete construction this April for a new self-storage facility in Hackensack. Located at 260 Railroad Ave., the facility will contain 81,300 square feet in 600 units. It will be branded as Hampshire Self Storage.
MORRIS TOWNSHIP, N.J. — ProSight Specialty Insurance has signed a 10-year lease for 40,310 square feet within 412 Mt. Kemble Avenue, a 474,100-square-foot office property located in Morris Township. The space will serve as the firm's new headquarters. The Jones Lang LaSalle team of Thomas Reilly and Derek DeMartino represented the tenant in lease negotiations. Brian Decillis provided in-house representation for Mack-Cali.
BURLINGTON, MASS. — NAI Hunneman has brokered the sublease of 37,207 square feet of office space at One Wall Street, a 192,000-square-foot, Class A building located in Burlington. DynamicOps will be subleasing the entire second floor of the building from Openwave Systems. NAI Hunneman's Suburban Leasing Group represented the sub-landlord in negotiations. Colliers International represented the sub-tenant.
BROCKTON, MASS. — Paramount Partners has completed the sale of a Walgreens pharmacy in Brockton for $1.77 million. The property totals 12,536 square feet and is located at 1101 Main Street. Jay Nuss of Paramount represented the seller, Cindy Lou Realty Trust. Deborah Meyers, also of Paramount, represented the buyer, 1101 Main Brockton LLC.
HADDONFIELD, N.J. — CB Richard Ellis (CBRE) has brokered the sale of Chestnut House, a multi-use property located in Haddonfield. The building contains 18 apartments and 8,200 square feet of ground-floor office space. Stephen Marzullo, Mark Duszak, John McFadden, Robert Miller, Matthew Stefanski and Justin Marlowe — all of CBRE's Philadelphia office — arranged the sale. Both parties were undisclosed.
HOLBROOK, N.Y. — Los Angeles-based UniNet Imaging has signed a lease for 40,300 square feet of industrial space at 721-725 Broadway Ave. in Holbrook. The manufacturer plans to relocate its East Coast distribution center to the new space. It had previously been located in nearby Bohemia. Richard Cohen and Ashley Cohen of Ashlind Properties represented the tenant in lease negotiations. Michael Schefren of Colliers International represented the landlord, Long Island Industrial Management. The tenant will take occupancy in March.
FREEHOLD, N.J. — Groundbreaking has occurred for the new BMW of Freehold car dealership at 4225 U.S. Highway 9 North in Freehold. Construction will consist of the demolition of an existing structure, the construction of a 28,000-square-foot showroom building, the expansion and renovation of an existing mechanic shop, and the renovation of an existing 10,000-square-foot body shop. The owner of the project is DCH Auto Group. The general contractor is McGowan Builders and the architect is GreenbergFarrow. The construction timetable was not released.
PHILADELPHIA — NAI Bluestone Real Estate Capital has arranged $3.85 million in permanent financing for a Philadelphia apartment community. Wood Norton Apartments is a historic building containing 24 units that is located in the city's Mount Airy submarket. The non-recourse loan carries a 10-year term with a fixed interest rate below 5 percent. The lender was Fannie Mae and the borrower was Nolen Properties.
EDISON, N.J. — The Goldstein Group has brokered the sale of the former Entenmann's bakery and distribution facility in Edison for $2.77 million. The buyer, Edison Equities LLC, plans to redevelop the site, which is located at 2120 Lincoln Hwy., into a retail strip center. It will lease a portion of the center to Entenmann's for a retail bakery store. The Goldstein Group team of Chuck Lanyard, Lew Finkelstein and C.J. Hutler brokered the deal. The seller was Orograin Bakeries Sales.
BROOKLINE, MASS. — NAI Hunneman has completed the sale of a three-story, 10-unit apartment building located at 1748 Beacon St. in Brookline for $2.12 million. Constructed in 1900, the property contains six studios, three one-bedroom units and one two-bedroom unit. NAI's Carl Christie and Dan McGee represented the seller, 1748 Beacon Street Realty Trust, and procured the buyer, Chlo Pho Realty.