POTTSTOWN, PA. — The grand opening has been held for an expansion to Montgomery County Community College’s West Campus, located in Pottstown. Known as the North Hall Facility, the 50,000-square-foot building consists of the adaptive reuse of 16 High Street, also known as the former Vaughn Knitting Mill. The facility contains seven classrooms, faculty offices, an art gallery and studios and continuing education offices. Construction also includes the rehabilitation of a pedestrian underpass, which connects the school to downtown Pottstown. The developer was Vesper Property Group, the projects architect was A.I.A. Architects and the general contractor is Clemens Construction Co.
ROCKLEDGE, PA. — Conshohocken, Pa.-based Equity Retail Brokers has completed the sale of a 38,000-square-foot neighborhood shopping center located in Rockledge. Situated on approximately 2.25 acres at 410-412 Huntingdon Pike, the center is anchored by Blockbuster Video; additional tenants include Pennsylvania Wine & Spirits, Acker’s Hardware and Vincent’s Pizza. Bart Delfiner and Edward Ginn of Equity Retail Brokers represented the undisclosed seller. Good Rock Realty Partners purchased the center and plans to continue day-to-day operations.
ELMIRA, N.Y. — An affiliate of Aries capital, Urban Development Fund LLC, has provided $15 million for the renovation of the Clemens Center in Elmira. The $24.5 million project will include upgrading the stage areas, dressing rooms, work areas and building technology. The funding was made possible by an allocation of New Market Tax Credits. This loan is one of two $15 million loans Urban Development Fund is providing for the project. The construction timetable for the project was not released. The Clemens Center consists of the 1,608-seat Powers Theater and the 200-seat Mandeville Hall.
BOYERTOWN, PA. — Retail Sites LLC has started construction on Douglass Town Center, a 90,000-square-foot shopping center in Boyertown. The project is located on an 11-acre site at the intersection of Route 100 and County Line Road. Tenants include a 70,000-square-foot Giant Foods Supermarket, a Hallmark Gold Crown Card store, Hair Cuttery and a dry cleaner. This will be Giants second new store in the Route 100 corridor. Three to four additional stores and an out-parcel for a bank or restaurant are also available. Additional improvements include a significant realignment and reconstruction of County Line and Holly Roads.
WEST NEW YORK, N.J. — The Kislak Company has completed the $7.725 million sale of a four-building portfolio consisting of 97 apartments and two retail spaces in West New York. The sale included a 37-unit property at 6611 Broadway, a 17-unit property with one retail space at 5902 Madison St., a 19-unit property with one retail space at 6120 Monroe Place, and a 24-unit property at 6204 – 6210 Palisade Ave. Donald Baxter and Jonathan Greenberg of Kislak represented both parties, private investors, in the transaction. 6611 Broadway is a five-story brick walk-up building with studio and one-bedroom apartments. 5902 Madison Street is a four-story brick walk-up building with studio, one and two bedroom apartments. 6120 Monroe Place and 6204 – 6210 Palisade Avenue are four-story walk-up buildings with one- and two-bedroom apartments. The seller completed a number of utility and other upgrades over the past several years. The buyer's financing was arranged by Elliot Treitel of Meridian Capital. The buyer was represented by Larry Raiss, Esq. of Feinstein Raiss Kelin & Booker of West Orange, New Jersey, and the seller was represented by Jonathan R. Mehl, Esq. of Rutherford, New Jersey.
EXETER, N.H. — The Kane Company has completed the sale of a 2-acre lot located in the Garrison Glen Corporate Park at 7 Continental Dr. in Exeter. The land was purchased by Holding Court, LLC from Garrison Glen, LLC. The new owner plans to develop the property into an indoor tennis facility. Peter Billipp and Lisa Kane of The Kane Company represented the seller and Florence Ruffner of Ruffner Real Estate represented the buyer. The sale price was not disclosed.
SPRINGFIELD, N.J. — Joel Schwartz and Avi Oren of Gebroe-Hammer Associates have completed the $1.7 million sale of an 18-unit garden-style apartment complex in Springfield. Located at 45 – 51 Morris Ave., the two-and-half story facility features a mix of one- and two-bedroom apartments, as well as on-site laundry and parking facilities. Planned upgrades include new windows, an enhanced electrical system, new heating and air conditioning and exterior landscaping. The property was sold by an undisclosed seller to Walker Estates, Inc. Legal counsel was provided by Clara Harelik, Esq., of Springfield, and Ray Londa, Esq., of Elizabeth, on behalf of the seller and buyer, respectively.
PARSIPPANY, N.J. — The Gale Construction Company, a subsidiary of Mack-Cali Realty Corp., has completed construction management services for the new build-to-suit headquarters of Wyndham Worlwide Corp., located in Parsippany. The three-story, 250,000-square-foot, Class A office building is situated at 22 Sylvan Way within the Mack-Cali Business Campus. The building contains executive and administrative offices, a credit union, a 1,600-square-foot data center, a boardroom, training rooms, a conference center, a company store, a cafeteria with outdoor seating and a fitness center. The project is expected to achieve LEED – Commercial Interiors certification.
LONG ISLAND, N.Y. — The Long Island office of NorthMarq Capital has arranged $77.42 million in first-mortgage financing for a portfolio of Fairhaven Apartments properties located throughout Nassau and Suffolk counties on Long Island. The portfolio totals 1,188 units and includes five apartment communities located in Carle Place, Mineola, Nesconset, Woodbury and Hicksville. The loan carries a 7-year term with a 30-year amortization schedule. The adjustable interest rate has a floor of 4 percent and a lifetime cap of 7.25 percent. NorthMarq’s Charles Cotsalas and Ernest DesRochers arranged the loan on behalf of the undisclosed borrower through Freddie Mac.
FALMOUTH AND FAIRHAVEN, MASS. — Storage Opportunity Partners (StorageOp) has acquired two self-storage facilities in Massachusetts. The first property is located on State Route 28 in Falmouth. It contains five two-story buildings with 79,495 rentable square feet, 30,000 of which are climate controlled. The second facility is located on State Route 240 in Fairhaven. It contains 41,500 rentable square feet in six single-story buildings. StorageOp plans to update the Fairhaven facility, including the renovation of one of the buildings to climate-controlled space and the addition of a Budget Truck Rental. The properties will be re-branded Storage Pros Self Storage and will be operated by Storage Pros Management LLC, a wholly owned subsidiary of StorageOp. Terms of the deal were not disclosed.