DARTMOUTH, MASS. — NorthMarq Capital has arranged $9.2 million in first-mortgage financing for HMA Oncology Center, a 94,300-square-foot medical office building located in Dartmouth. Tenants at the building include St. Anne's Hospital and Hawthorne Medical Associates. The loan, which was arranged by Jeff Cherner and Rup Patel of NorthMarq's Chicago office, carries a 10-year term and a 20-year amortization schedule. The borrower is undisclosed and the lender is a regional bank.
WALTHAM, MASS. — Colliers Meredith & Grew has completed the sale of the former Bartlett School campus located on Trapelo Road in Waltham. The 5.8-acre property contains two buildings: a single-story, 50,156-square-foot brick school building and a 7,830-square-foot gymnasium. Colliers' James Elcock and Katharine Barry represented the seller, Bartlett School, as well as the buyer, Carroll School. The buyer, a primary school for children with learning disabilities, plans to use the property as an expansion of its main campus in Lincoln, Mass.
CALN, PA. — An investor group led by Scott Homel and Pintzuk Brown Holdings LLC has acquired Caln Plaza shopping center in Caln for $4.25 million. The 56,000-square-foot retail property is located on approximately 9 acres at the intersection of Business Route 30 and North Caln Road. Caln Plaza was fully occupied at the time of closing. Its anchor tenants include Amelia's Grocery, Family Dollar and Rent-A-Center. Daniel Henderson, R. Christopher Datz and Anthony Sembello of Jenkintown, Pa.-based Pintzuk Brown Realty Group provided in-house representation for the buyer in the transaction. The seller, Metric Realty, was represented by Thomas Gorman and Matthew Gorman with the Philadelphia office of Marcus & Millichap. Acquisition financing was provided by Team Capital Bank. The property traded at a 10 percent capitalization rate.
CHELMSFORD, MASS. — The RAM Companies has acquired 10 Industrial Drive, an 84,000-square-foot industrial property located in Chelmsford. The facility is leased on a long-term basis to the U.S. Department of Veterans Affairs. The building was first constructed in 2004 for the current tenant. RAM acquired the property from New Boston Fund for an undisclosed amount.
NEW YORK CITY — Last month, the topping out ceremony was held for the construction of 400 Fifth Avenue, a 60-story hotel and residential tower located in Midtown Manhattan, New York City. The approximately 570,000-square-foot building will feature a five-star hotel with 214 rooms, comprising 157 guestrooms and 57 hotel/suite apartments. Amenities will include a restaurant, a bar, a spa and a health club. The upper floors of the tower will feature 190 residential condominiums. Completion of 400 Fifth Avenue is slated for fall 2010. The project is being developed by Bizzi & Partners Development. The project architect is Gwathmey Siegel & Associates Architects.
PHILADELPHIA — Colliers Lanard & Axilbund has brokered the sale of a 63,000-square-foot warehouse/distribution facility located in Philadelphia for $3.71 million. The building is situated on 3.04 acres at 913-29 Wallace St. The single-story building features a partial mezzanine area with 8,000 square feet of office/showroom space as well as parking for 75 cars. Michael Barmash of Colliers represented the sellers, Dorothy Jane Staples and Michael Staples. The buyer, 913 Wallace Street Associates LP, is renovating the property, formerly a store fixture business, for warehousing purposes.
SOMERDALE, N.J. — LA Fitness has joined the tenant roster at CooperTowne Center, a 385,000-square-foot retail development located at 711 Evesham Ave. in Somerdale. The fitness center chain will open a 45,000-square-foot anchor location in December. The remainder of the tenants, including co-anchor tenant Walmart Supercenter, will open in June 2010. CooperTowne Center is being developed by Purchase, N.Y.-based National Realty & Development.
MEDFORD, N.Y. — NorthMarq Capital's Long Island, New York, office has arranged $8 million in first-mortgage financing for Villas at Medford, a 66-unit multifamily community located in Medford. The loan carries a 10-year term with a 30-year amortization schedule and a 5.57 percent fixed interest rate. Charles Cotsalas and Ernest DesRochers of NorthMarq arranged the loan on behalf of the undisclosed borrower through Freddie Mac.
FREEHOLD, N.J. — Woodbridge, N.J.-based The Schultz Organization has completed two sales within Pond View Professional Park, a multi-building, 100,000-square-foot office park located in Freehold. In the first deal, Pond View Holdings LLC acquired Building 200's pad site, which is approved for a two-story, 25,000-square-foot building. In the second transaction, Monmouth Middlesex Oncology Hematology acquired a 5,400-square-foot office condo located on the second floor of Building 300, a two-story, 50,000-square-foot structure. Steven Schultz and Julie Nachamkin of The Schultz Organization represented the seller, a joint venture between Pyramid Property Partners, The Hampshire Companies and Triad Development. Pond View Professional Park contains three buildings situated on 12.24 acres along West Main Street, in close proximity to CentraState Hospital. Approximately 24,000 square feet remain available within the campus.
COLONIE, N.Y. — Albany, N.Y.-based NAI Platform has arranged the $3.75 million sale of a 138,450-square-foot industrial facility located in Colonie. The facility is situated on 9.76 acres at 10 Jupiter Lane. The seller, Empire Merchants North, is leasing the building back for the short term while it waits for its new 200,000-square-foot facility in Coxsackie, N.Y., to be completed. Daniel O'Brien and Robert Murphy of NAI Platform arranged the sale. The buyer's name was not disclosed. NAI Platform and Nick DeMase & Associates are jointly listing the property for lease.