GARDEN CITY, N.Y. — Stifel, Nicolaus & Company, Inc., a subsidiary of Stifel Financial Corp. a full-service regional brokerage and investment banking firm, has signed a 10-year, 24,771-square-foot lease at The Treeline Companies’ 1225 Franklin Avenue Plaza in Garden City. Kraig Silver of The Treeline Companies, represented the landlord in-house. Jay Stewart of Grubb & Ellis and Roger Wooster of Sutton & Edwards, Inc. represented the tenant. The five-story, Class A building features 205,000 square feet, as well as amenities such as meeting facilities, executive dining, a fitness center, and on-site owner management. The new lease represents a relocation and expansion for Stifel, Nicolaus & Company, which was previously located at 50 Charles Lindbergh Blvd. in Uniondale, New York. ?
AVENEL, N.J. — Subway has signed on for space at Delco Plaza in Avenel. The 77,928-square-foot neighborhood shopping center is now 100 percent leased. Delco Plaza is located on St. Georges Avenue (Route 35) at Peach Street. Other tenants at the shopping center include Pathmark, Boston Market, Photo Time, Crystal Vision, Golden Touch Jewelers, 99 Cent Max, Hair Designs, BuyRite Liquors, Beauty Castle, Radio Shack, Bank of America, pizza and Chinese restaurants and a nail salon. Ethan Goldsmith of Levin Management Corp., the exclusive leasing and managing agent for the property, brokered the 800-square-foot commitment.
MANCHESTER, CONN. — A 30,000-square-foot Savers recently opened at Crossroads Shopping Center in Manchester. The retail center is located in the northeast corner of Interstate 84 (Wilbur Cross Highway) and Buckland Road on Pavilions Drive. Peter Considine of The Dartmouth Company, represented Savers, and Centro Properties Group, the owner, was represented in-house by Charles Davis of Centro Properties.
CENTRAL ISLIP, N.Y. — A 526,000-square-foot industrial building located at 199 Lowell Ave., in Central Islip has been sold. The building is a former grocery distribution center that is situated on approximately 45 acres. It had previously been occupied by Ocean Logistics before the company closed the location in a consolidation effort. Bob Gibson and Ed Jarosz of CB Richard Ellis/New England, along with Phil Heilpern, Martin Lomazow and David Zelinski of CB Richard Ellis’ Long Island, N.Y., office, represented Ocean Logistics in the termination of its lease agreement with San Francisco-based 10 Boulevard LLC, the seller of the property. The Silver Group represented 10 Boulevard LLC in the sale of the facility to Sysco Corp. The acquisition price was not disclosed.
NEW YORK CITY – Matri Holdings and Prudential Douglas Elliman are continuing construction for the new 500 Fourth Avenue condominiums, located in the Park Slope neighborhood of Brooklyn, New York City. Scheduled for completion in the late fall, the 12-story tower will feature 156 studio-, one-, two- and three-bedroom residences ranging in size from 539 to 1,456 square feet. The condos will be priced from $342,000 to approximately $1.07 million. The building will also feature an approximately 3,000-square-foot duplex townhouse priced at $1.42 million. The building will also feature 5,000 square feet of amenity space, a Club 500 lounge and a 2,500-square-foot terrace. Amenities include a fitness area, a solarium for yoga and a children’s playroom. Sales have commenced on the property.
PHILADELPHIA — The New Jersey office of Holliday Fenoglio Fowler (HFF) has arranged a $17 million loan for Columbus Crossing, a 142,166-square-foot, grocery-anchored shopping center located in Philadelphia. The shopping center is situated on 11.33 acres at 1851 S. Christopher Columbus Blvd. It is currently 97 percent leased by a tenant roster that includes SuperFresh, Old Navy, A.C. Moore, Famous Footwear, Bath & Body Works and Lane Bryant. The center is shadow anchored by The Home Depot and Walmart. The loan carries a 5-year term with a 6.75 percent interest rate and was provided by Susquehanna Bank. The borrower is Cedar Shopping Centers. The transaction was arranged by Jim Cadranell and John Taylor, both of HFF.
BEDFORD, MASS. —Tremont Realty Capital has secured a $4.74 million loan for the refinancing of 54 Middlesex Turnpike, a two-story, 42,500-square-foot office building located in Bedford. The 6.7-acre property also contains a newly constructed, 8,000-square-foot daycare center. The borrower funded the construction of the new daycare out of pocket and was looking for a permanent loan to refinance its existing loan on the office building, in order to recoup some of its investment in the new property. The new loan carries a 20-year term, a 5.75 percent interest rate and an approximately 70 percent loan-to-value ratio. The lender was a local bank. The transaction was arranged by David Ross of Tremont’s Boston office.
TAMAQUA, PA. — CB Richard Ellis has completed the sale of a 469,000-square-foot industrial facility located at 143 Mahanoy Ave. in Tamaqua. The facility is situated on 46.83 acres and is in close proximity to the Lehigh Valley and Hazleton. Joseph McDermott and Vincent Ranalli of CBRE represented the seller, HanesBrands, Inc. The buyer and sale price were undisclosed.
PARSIPPANY AND FAIRFIELD, N.J. —The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of two United Stor-All self-storage facilities in Parsippany and Fairfield. Aaron Swerdlin, Doug McCarron and Michael Klein of HFF led the investment sales team exclusively on behalf of the seller, a joint venture between United Stor-All and the Fidelity Real Estate Group. An unrelated third party purchased both properties for an undisclosed price. Completed in 2004, the two United Stor-All properties total approximately 1,406 units in 139,850 square feet and feature climate-controlled space, individual unit alarms and digital camera security monitoring.
NEW YORK CITY — GreenbergFarrow has delivered a 1,600-square-foot boutique store for Comptoir des Cotonniers. The facility is located at 155 Spring St. between West Broadway and Wooster Street in SoHo in Manhattan, New York City. The store is the first American venue for the international mother-daughter casual clothing retailer.