MOUNT HOLLY SPRINGS, PA. — Wolfe & Shearer Realtors (W&S) has completed the sale of an approximately 24,000-square-foot industrial property located at 100 Watts St. in Mount Holly Springs. The buyer, Skovira Fabrication & Machine Shop, plans to use the facility to expand its current operations. Bill Shearer and Gary Sausser of W&S represented both parties in the transaction. The seller was undisclosed.
CARLE PLACE, N.Y. — The White Plains, N.Y., office of Sperry Van Ness (SVN) has negotiated the sale of Voice Road Plaza, a 131,850-square-foot community shopping center located on Glen Cove Road in Carle Place, for $36.22 million. Situated on 8.3 acres, the center was constructed in 1951 and renovated in 1996. It was 98.8 percent occupied at the time of closing; anchor tenants include Staples, Big Lots, Party City, Dress Barn and Bass. Joseph French and Neil Golub of SVN represented the seller, a New York-based hedge fund. The buyer was a New York-based private investor.
EDISON, N.J. — Atlantic Beverage Co. has acquired a 138,000-square-foot industrial condominium located at 3775 Park Ave. in Edison, for $7 million. The company has previously been a tenant at the 507,400-square-foot building for the past 10 years. James Frank of Cushman & Wakefield represented Atlantic Beverage Co. The seller, Tulfra Realty Co., utilized in-house representation. In 2008, a joint venture between Tulfra and Hampshire Properties acquired the industrial facility and is now in the process of repositioning it into industrial condos.
WATERBURY AND NEW BRITAIN, CONN. — The Hartford, Conn., office of Chozick Realty has arranged two Connecticut multifamily sales totaling $5.72 million. In Waterbury, Rick Chozick and Marty Levitz of Chozick Realty arranged the $3.55 million sale of Diamond Court Apartments. The community comprises 80 townhome apartments in a mix of 24 two-bedroom, 54 three-bedroom and two four-bedroom units. Apartment sizes range from 795 to 1,285 square feet. In addition, 40 percent of the apartments are reserved as affordable housing for those making less than 60 percent of the median area income. The seller was Diamond Court-CHFA, Inc. The buyer, Diamond Court Realty, Inc., acquired the property in a sealed bid.
WATERBURY AND NEW BRITAIN, CONN. — The Hartford, Conn., office of Chozick Realty has arranged two Connecticut multifamily sales totaling $5.72 million. In Waterbury, Rick Chozick and Marty Levitz of Chozick Realty arranged the $3.55 million sale of Diamond Court Apartments. The community comprises 80 townhome apartments in a mix of 24 two-bedroom, 54 three-bedroom and two four-bedroom units. Apartment sizes range from 795 to 1,285 square feet. In addition, 40 percent of the apartments are reserved as affordable housing for those making less than 60 percent of the median area income. The seller was Diamond Court-CHFA, Inc. The buyer, Diamond Court Realty, Inc., acquired the property in a sealed bid. In New Britain, Rick Chozick and Ryan Perkoski, also of Chozick Realty, arranged the $2.17 million sale of Edgewood Apartments. The community consists of two brick buildings with a mix of 10 one-bedroom units and 30 two-bedroom units. Occupancy was 95 percent at the time of closing. The seller was Edgewood Properties LLC and the buyer was Marconi Enterprises.
HAUPPAUGE, N.Y. — Morristown, N.J.-based The Hampshire Companies has acquired two properties located in Hauppauge from Siemens Energy & Automation. The properties comprise a 20,000-square-foot office building located at 155 Plant Ave. and an adjacent, 32,500-square-foot industrial building located at 75 Oser Ave. Both buildings were fully occupied at the time of closing. Hampshire made the purchase on behalf of Hampshire Partners Fund VII, one of its real estate investment funds. The acquisition price was not disclosed.
KEYPORT, N.J. — Woodbridge, N.J.-based The Kislak Company has brokered the sale of Keyport Plaza, a two-building office complex located at 25 E. Front St. in Keyport, for $2.27 million. Situated on 1.5 acres, the property contains a total of 21,000 square feet of Class A space; it was fully occupied at the time of closing. Kislak’s Joe DeFeo represented the seller, a New Jersey-based developer and investor, and Barry Waisbrod, also of Kislak, represented the buyer, First Property Management Solutions. The property traded at a 9 percent capitalization rate.
NEW HARTFORD, N.Y. — CB Richard Ellis/Syracuse (CBRE) has brokered the purchase of an 84,800-square-foot office building located in New Hartford for $3.45 million. The building is situated on 40 acres at 4401 Middle Settlement Rd. It was acquired by Utica, N.Y.-based St. Elizabeth’s Medical Center, which was represented by CBRE’s Peter Finn and Larry Van Der Bogart. The buyer plans to use the building to continue its expansion and will take occupancy in the spring or summer after an interior build-out is complete. The Utica office of Pyramid Brokerage Co. was the listing agent in the transaction; the seller was New Hartford Plaza LLC. The building was formerly occupied by The Hartford Insurance Companies; Finn and Van Der Bogart assisted the company in finding a new office within nearby New Hartford Office Park.
RED BANK AND CLARK, N.J. — Edison, N.J.-based Mack-Cali Realty Corp. has received a total of $64.5 million in financing for two New Jersey office properties. In the first transaction, Mack-Cali secured $44.9 million for One River Centre, a three-building office complex located at 331 Newman Springs Rd. in Red Bank. The property contains approximately 480,000 square feet of Class A space. In the second transaction, Mack-Cali secured $19.6 million for a 182,555-square-foot, Class A office building located at 100 Walnut Ave. in Clark. Both loans carry 10-year terms and 7.25 percent interest rates. The lender was Guardian Life Insurance Company of America.
BRIDGEPORT, N.J. — King of Prussia, Pa.-based Jackson Cross Partners – ONCOR International has arranged the sale of a 55,000-square-foot industrial building located in Bridgeport. The property is situated on 19 acres within the Pureland Industrial Complex. It features 6,400 square feet of two-story office space, 40-foot by 40-foot column spacing, tailgate and drive-in loading, 4,000 AMP electrical service, five cranes with 5-ton lift capacities and 125 car parking spaces. Lou Battagliese, Harry McKenna and Jim Young of Jackson Cross Partners represented the seller, Southco. Fran Mahoney of the Philadelphia office of Cushman & Wakefield represented the buyer, Philadelphia-based George Young Co.; the acquisition price was not disclosed.