CONNECTICUT AND NEW YORK — Al Mirin and Silvia Pogosyan of CB Richard Ellis’ (CBRE) Private Client Group have arranged four deals for a total of $7.5 million. A former TD Banknorth bank branch located at 100 Post Road East in Westport, Conn., sold for $2.3 million. Two commercial properties located at One Technology Plaza and 153 W. Cedar St. in Norwalk, Conn., sold for a total of $1.2 million. A 6,000-square-foot building with a 1,000-square-foot garage that is located at 987 Central Park Ave. in Yonkers, N.Y., sold for $900,000. Finally, Mirin and Pgosyan arranged a joint venture for the former Maples Inn located at 179 Oenoke Ridge Road in New Canaan, Conn. The property will be converted into condominiums. The parties involved in all four transactions were not disclosed.
Northeast
RIVERDALE, N.J. — Strategic Storage Trust (SST) has acquired a self-storage facility located in Riverdale. The property comprises a four-story building situated on 2.4 acres at 112 State Route 23. It contains approximately 820 units and was developed in 2007. The seller was Rick Kerper with Space Story Self Storage. SST plans to rebrand the property as SmartStop Self Storage. The acquisition price was not disclosed.
WHITE PLAINS, N.Y., AND ALTOONA AND WASHINGTON, PA. — Chatham Lodging Trust has entered into an agreement to acquire a four-property hotel portfolio for $61 million. The properties include the 133-room Residence Inn by Marriott located in White Plains, the 105-room Courtyard by Marriott located in Altoona and the 86-room Springhill Suites by Marriott located in Washington. The fourth hotel is a Hampton Inn & Suites located in Houston. The deal will include the assumption of $12 million in debt. The deal is expected to close within 4 weeks.
NEW YORK CITY — Foremost Properties has leased an office building located at 127 W. 25th St. in Manhattan's Chelsea neighborhood to Bowery Residents' Committee (BRC). The 12-story, 104,500-square-foot building will serve as the social service provider's headquarters and will consolidate its Manhattan operations. The 33-year lease will begin later this year following a $15 million renovation. Marty Meyer and Eric Meyer of Colliers International represented the landlord in lease negotiations. A team from Cassidy Turley led by David Lebenstein represented the tenant.
WOBURN, MASS. — CB Richard Ellis / New England (CBRE) has brokered the sale of a Woburn warehouse property for $2.7 million. The 46,000-square-foot building is situated at 28 Torrice Dr. CBRE's Mark Reardon, Jason Levendusky and Jake Borden represented the seller, RNM Associates Woburn LP. Philip Burgess of Burgess Properties represented the buyer, 395 West Third Street Trust.
WESTWOOD AND RIVER VALE, N.J. — Marcus & Millichap has arranged the acquisition of a four-property New Jersey multifamily portfolio through the purchase of a $22.5 million whole mortgage loan. The collateral for the loan consists of three garden-style communities located in Westwood and one located in River Vale. The buyer in the deal is Hartz Mountain Industries. Jeff Oram, Nat Gambuzza and Kevin McCrann of Marcus & Millichap's Special Asset Services group partnered with Thomas McConnell, also of Marcus & Millichap, to complete the deal.
NEW YORK CITY — Local 32BJ of the Service Employees International Union (SEIU) has signed a lease for 245,000 square feet of office space at 620 Avenue of the Americas in Manhattan. The union will be relocating from its current offices at 101 Avenue of the Americas. As part of the tenant fit-out, a portion of the building's 18th Street freight area and elevators will be reconfigured into a private entrance leading to a welcome center, information kiosks, benefits centers and a 475-seat auditorium. Mark Weiss and Robert Eisenberg of Newmark Knight Frank represented the tenant in lease negotiations. Mitchell Konsker, Matthew Astrachan and Jonathan Tootell of Cushman & Wakefield represented the undisclosed landlord.
DEPTFORD, N.J., AND LANGHORNE, PA. — Sixth Avenue Electronics has acquired two former Office Depot stores for a total of $6 million. Both locations are situated across from major shopping centers in their respective markets. The first property is located across from Deptford Mall in Deptford and traded for $3.3 million. The second property, which traded for $2.7 million, is located at 2365 E. Lincoln Highway, across from Oxford Valley Mall. Rob Cooper of Metro Commercial Real Estate represented Office Depot in both deals. R.J. Brunelli represented Sixth Avenue Electronics.
BEDMINSTER, N.J. — Gebroe-Hammer Associates has completed the sale of an affordable senior housing property in Bedminster for $4.35 million. Pluckemin Park is a 50-unit, garden-style community contained within 15 buildings on 3 acres. It consists of 37 one-bedroom units and 13 two-bedroom units. Gebroe-Hammer's Stephen Tragash represented the seller, Pluckemin Park LLC. Scott Callahan, also of Gebroe-Hammer, represented the undisclosed buyer.
NEW MILFORD, CONN. — Urstadt Biddle Properties (UBP) has acquired New Milford Shopping Plaza in New Milford for $22.5 million. Situated on Danbury Road, the property was constructed in the 1970s and renovated in 1990. Anchors for the 229,000-square-foot property include a 102,000-square-foot Walmart and a 72,000-square-foot Stop & Shop. Additional tenants include Dollar Tree, Union Savings Bank, Radio Shack, Hallmark and GameStop. The seller was not disclosed.