SOUTH BRUNSWICK, N.J. — CB Richard Ellis (CBRE) Capital Markets Group has arranged $16.5 million in financing for a Heritage Square Shopping Center in South Brunswick. The new 80,509-square-foot center contains three buildings and is fully leased to Target, Best Buy, Staples and Petsmart. The center is located at Route 1 and Stouts Lane. James Gunning and Donna Falzarano of CBRE arranged the financing for the borrower, The Morris Companies. Northwestern Mutual Life funded the loan.
EXETER AND NORTH HAMPTON, N.H. — Fantini & Gorga have arranged $7.8 million in financing for McFarland Ford in Exeter and Hampton Ford & Hyundai and the Sunbelt Rental building in North Hampton. McFarland Ford is a 28,000-square-foot property located on Route 108. Hampton Ford & Hyundai is situated on the northbound side of Route 1 on 9 useable acres. It contains two buildings totaling 67,300 square feet of space. The third property features 20,300-square-foot building set on a 3.21-acre industrially zoned parcel. The building is fully leased to Sunbelt Rentals. The borrower was undisclosed.
NEW YORK — Integra Realty Resources, a commercial real estate valuation and consulting firm has entered a non-binding agreement to acquire Altus Group Income Fund, a Canadian consulting firm much like Integra. The merger will increase Integra’s capabilities, offerings and services for its clients due to its expanded coverage in Canada and the United Kingdom. Additional expansion is part of the company’s overall strategic plan.
NEW YORK CITY — Stonehill Development is currently constructing Meserole, a luxury condominium development located at 127-129 Meserole St., in the Williamsburg neighborhood of Brooklyn, New York City. The four-story condominium will feature 16 units ranging from 654-square-foot studios to 1,573-square-foot one-bedroom residences. Designed by Karl Fischer, the units will feature 9-foot ceilings, hardwood floors, gourmet kitchens and private balconies. The homes start at $420,000. The Developers Group is the exclusive sales and marketing firm for the project.
NEW YORK CITY — Joel Silver and Ethan Eldon are currently converting an historic warehouse into Tribeca Summit, a 63-unit condominium development located at 415 Greenwich St. in the Tribeca neighborhood of Manhattan, New York City. The former Summit Warehouse was redesigned by H. Thomas O’Hara Architects and Conceptual Architect Anthony Morali of M Studio. Upon completion, the facility will feature two- and four-bedroom lofts, as well as penthouse duplexes and townhomes. Amenities include a fitness center, 24-hour concierge, a children’s playroom and 24-hour attended parking. Prices for the residences begin at $2.65 million. Prudential Douglas Elliman Developments is heading up the sales and leasing for the multifamily project.
NEW YORK CITY — Stonehill Development is currently constructing Meserole, a luxury condominium development located at 127-129 Meserole St., in the Williamsburg neighborhood of Brooklyn, New York City. The four-story condominium will feature 16 units ranging from 654-square-foot studios to 1,573-square-foot one-bedroom residences. Designed by Karl Fischer, the units will feature 9-foot ceilings, hardwood floors, gourmet kitchens and private balconies. The homes start at $420,000. The Developers Group is the exclusive sales and marketing firm for the project.
NEW YORK CITY — The iconic 20 Exchange Place building in the Financial District in Manhattan, New York City, is set to be converted into a rental residential building. Standing at 57 stories, the converted facility will feature 350 units with rents starting at $2,500. The 800,000-square-foot facility will also feature amenities such as a 24-hour doorman, a residents’ lounge, a landscaped deck on the 19th floor and a fitness center. The building is being converted by owner and developer, Metro Loft Management.
MIDDLETOWN, R.I. — Steve Witten and Victor Noletti of the Witten & Noletti Group of Marcus & Millichap have completed the $19.65 million sale of Northgate Apartment Homes in Middletown. Situated on approximately 16 acres at 3 Admiralty Dr., the facility contains 19 buildings with a total of 179 units. The complex features 85 one-bedroom units, 88 two-bedroom units, and six three-bedroom units. Witten and Noletti represented the seller, Middletown Tarragon, and the buyer, Northland Middletown, in the disposition.
MILFORD, CONN. — Vidal Wettenstein and Arnold Peck Commercial have co-brokered the $1.4 million sale of a three-story office building in Milford. Located at 57 Plains Rd., the facility features 24,000 square feet set on approximately .78 acres. Scott Zakos of Vidal Wettenstein represented the buyer, 57 Plains Road, LLC., and Kevin Weirsman of Arnold Peck represented the seller, Tarkhan Associates, in the transaction.
BUFFALO, N.Y. — Daniel Monte of The Rose Hill Group of WNY LTD has arranged a $5.6 million loan for Delaware Sheridan Plaza, a multi-tenant retail center in Buffalo. The new center includes 34,920 square feet and tenants such as CVS/pharmacy, Fed Ex/Kinkos, AT&T and Panera Bread. Located at Delaware Road and Sheridan Drive, the development is owned by Sheridan Development Associates, which is part of The Benchmark Group.