YORK, PA. — Hartley Street Properties has purchased a 9,930-square-foot former body shop from Sunrise Holdings for an undisclosed amount. The property is located at 1000 Roosevelt Ave. in York. York-based ROCK Commercial Real Estate brokered the sale.
PRINCETON, N.J. — Princeton-based NAI Global, in cooperation with Lakeland, Fla.-based Higgenbotham Auctioneers International, will hold its first ever Commercial Property PowerSale, an online auction of commercial real estate, May 1. Buyers will be able to participate live or submit a sealed bid before the auction starts. More than $150 million worth of properties are expected to be auctioned off during the first PowerSale. Everything from investment-grade retail, office and multifamily developments to vacant land in 20 states around the nation will be put on the auction block. A second PowerSale is scheduled for June 11, with monthly auctions to follow.
WYNCOTE, PA. — New York City-based Nassimi Realty has completed East Cedarbrook Plaza, an outlot expansion of Cedarbrook Plaza shopping center in Wyncote. The final component of the expansion, a 30,000-square-foot Ross Dress For Less, held its grand opening last week. The new location marks the 26th store for the apparel retailer in the greater Philadelphia market. Other tenants at East Cedarbrook Plaza include Old Country Buffet, Joyce Leslie, K&G Superstore, Payless Shoesouce, Cold Stone Creamery and Sprint Wireless. Cedarbrook Plaza is a 600,000-square-foot retail center located at the intersection of Cheltenham Avenue and Easton Road. It is anchored by Walmart, Pathmark and Toys ‘R Us.
PARSIPPANY, N.J. — Cranbury, N.J.-based Sweetwater Construction Corp. has commenced construction for Morris County Surgical Center, located at 3695 Hill Rd. in Parsippany. The 12,000-square-foot ambulatory surgery center will feature three operating rooms, two endoscopy rooms and 8,000 square feet of offices. The project consists of the complete interior and exterior renovation of an existing office building at the site. Completion is scheduled for June. The facility will be owned by Morris County Surgical Center and managed by Ambulatory Management LLC. It is being developed by Hill Road Properties LLC. Sweetwater is providing pre-construction and construction management services, and Old Tappan, N.J.-based Robert Zaccone & Associates is serving as project architect. The project marks the 15th surgical center that Sweetwater has built in New Jersey in the past 5 years.
NEW YORK CITY — The Kaufman Organization has arranged a 32,359-square-foot office lease at 1407 Broadway, a 42-story, 1.1 million-square-foot office building located in the Fashion District of Manhattan, New York City, for Geneva Watch Group. The watchmaker will occupy a full floor of the building and will relocate is corporate headquarters here from its previous location in Long Island City, Queens. The office space features a wraparound terrace that runs the length of an entire city block. The price of the lease was not disclosed, but the asking price was $52 per square foot. It carries a 10-year term. Grant Greenspan and Michael Heaner of Kaufman represented the undisclosed landlord. Geneva Watch Group was represented by Steven Kaplan and Jack Wallis of Lansco Corp.
YORK, PA. — Convenience store chain Sheetz has acquired a 2.44-acre land parcel located at the intersection of East Market Street and Stonewood Road in Springettsbury Township, York, for the construction of a new convenience store. Locally based ROCK Commercial Real Estate represented the undisclosed seller in the land transaction. The acquisition price also was not released. Sheetz currently operates more than 350 convenience store locations in six states.
NEW YORK CITY — Assa Properties is advancing construction for Galerie 515 Hotel & Condominium Residences, a new hotel and residential building located at the corner of Ninth Avenue and 39th Street in Midtown Manhattan, New York City. Designed by Costas Kondylis, the building’s residential component includes 92 one- and two-bedroom condominiums priced from the high-$700s. Resident amenities include a 24-hour doorman and concierge, valet parking, a fitness center, and a rooftop sky lounge that features a wet bar, a whirlpool and a barbecue area. Residents will also have access to the hotel’s amenities, including housekeeping, business services, spa services provided by Cornelia Day Resort and 24-hour in-room dining provided by a premier restaurant. The hotel portion of the building will be operated by West Paces Hotel Group. The sales office for the condo component recently opened at 630 Ninth Ave. The completion date for the project was not released.
BOSTON — Boston-based Suffolk Devonshire LLC has acquired 75 percent of the space within 185 Devonshire Street, an 80,000-square-foot office condo building located in Boston’s Financial District. The seller, Coral Gables, Fla.-based Bayview Financial, had already sold 25 percent of the space in the building as office condos prior to the transaction with Suffolk Devonshire. The buyer plans to lease the condos, which range from 1,000 to 6,000 square feet, to office users with the option to buy or sell them at up to 50 percent reduced prices. Suffolk Devonshire has selected NAI Hunneman Commercial to provide sales and leasing services for the building. Bayview Financial acquired the building in 2005 and recently completed an extensive renovation. The building was originally constructed in 1914.
NEW YORK CITY — The grand opening has been held for Jackson Avenue Veteran Complex, an affordable housing community for formerly homeless veterans that is located in the Mott Haven neighborhood of the Bronx, New York City. The community consists of seven row houses containing a total of 21 units. The buildings will contain a mix of two- and three-bedroom units. In addition, residents will have access to social and educational services including job training and placement, legal assistance, educational assistance, financial counseling, and access to a wellness center and computer rooms. The project was developed by Inner City Development, which worked with ENPHRONT Veteran Services and the Community Preservation Corp.
NORWOOD, MASS. — Boston-based EagleBridge Capital has secured a $1.5 million mortgage for a 65,240-square-foot warehouse. The property is located at 340-346 Vanderbilt Ave. in Norwood’s Park Place Industrial Park. The warehouse is 100 percent occupied by Atlantic Technology, Prize Possessions, Tricrop Amusements, Hill-Rolm, Crown Clothing and Takara Belmont. EagleBridge’s Ted M. Sidel and Brian D. Sheehan arranged the loan.