PHILADELPHIA, MORTON, PA., AND MAPLE SHADE, N.J. — Matthew Pauls and Fred Paisley of Marcus & Millichap’s Philadelphia office have completed the $2.15 million sale of Jendora Apartments in Philadelphia. Paisley represented the undisclosed seller and Pauls procured the undisclosed buyer. In Maple Shade, Casey Hansen, also of Marcus & Millichap’s Philadelphia office, has brokered the sale of Southern Cross Apartments. The 22-unit apartment facility was sold for $1.35 million. Hansen procured the undisclosed buyer and represented the undisclosed seller in the transaction. Ken Waller, also of Marcus & Millichap’s Philadelphia office, has completed the $704,000 sale of Hidden View Apartments in Morton. The 13-unit apartment is located at 214 Main St. Waller procured the undisclosed buyer and represented the undisclosed seller in the sale.
Northeast
PHILADELPHIA, MORTON, PA., AND MAPLE SHADE, N.J. — Matthew Pauls and Fred Paisley of Marcus & Millichap’s Philadelphia office have completed the $2.15 million sale of Jendora Apartments in Philadelphia. Paisley represented the undisclosed seller and Pauls procured the undisclosed buyer. In Maple Shade, Casey Hansen, also of Marcus & Millichap’s Philadelphia office, has brokered the sale of Southern Cross Apartments. The 22-unit apartment facility was sold for $1.35 million. Hansen procured the undisclosed buyer and represented the undisclosed seller in the transaction. Ken Waller, also of Marcus & Millichap’s Philadelphia office, has completed the $704,000 sale of Hidden View Apartments in Morton. The 13-unit apartment is located at 214 Main St. Waller procured the undisclosed buyer and represented the undisclosed seller in the sale.
CANTON, MASS. — Rugby Realty has acquired two office buildings in the Canton Commerce Center in Canton. Rugby purchased 85 Dan Rd., a one-story, 78,708-square-foot office building, from iStar Financial for $5.1 million. Organogenesis is slated to lease the facility. 275 Dan Rd., a one-story, 99,689-square-foot flex/R&D building, was purchased from CW Capital for an undisclosed price. Sean Teague, Joseph Fallon, William Foley of DTZ FHO represented Rugby Realty in the sale and Organogenesis in the lease negotiations. Cathy Minnerly and Jason Bryer of Cushman & Wakefield represented iStar Financial, and Richards Barry Joyce & Partners represented CW Capital in the sale.
WYOMISSING, PA. — Ground has been broken on Wyomissing Square, a 13.3-acre mixed-use community in Wyomissing. The development will include Wyomissing Square Apartments, a four-story, 248-unit complex that is an adaptive re-use of a former industrial facility. In addition, the smart growth project will also feature 32,000 square feet of retail and restaurant space and a 135-room Marriott Courtyard hotel. Bozzuto Development Co. is developing the project in partnership with New Boston’s Urban Strategy America Fund, The Brickstone Companies, and Rock Creek Hospitality. Completion on the development is slated for early 2010.
PALMYRA, PA. — A joint venture comprised of AMC Delancey Group and Heritage Senior Living has completed construction of Traditions of Hershey, a 120-unit independent senior living community in Palmyra. Located at 100 N. Larkspur Dr., the facility features studios and one- and two-bedroom residences. Rental rates range from $1,800 to $2,700 per month. Amenities include an onsite move theater, a fitness center, a billiard room, a library and a beauty salon.
CLIFTON, N.J. — Cushman & Wakefield has completed the sale of a warehouse facility located at 174 Delawanna Ave., in Clifton. The 217,139-square-foot distribution building was purchased for an undisclosed price by New Jersey’s largest independent food service company. Amenities include 32-foot clear ceilings, cross-docked loading and fenced in parking. Stephen Elman, Stan Danzig and Noah Balanoff of Cushman & Wakefield represented the seller, The Morris Companies, in the transaction. The undisclosed buyer was represented by Brian Scheuer of Chaus Realty.
SYRACUSE, N.Y. — The Rose Hill Group of WNY LTD has arranged $1.88 million in permanent financing for a new retail store in Syracuse. Located with visibility along Route 481, the 11,598-square-foot project is fully occupied by Kinney Drugs. Thomas Grzebinski of The Rose Hill Group arranged the financing for the undisclosed borrower through a correspondent life insurance company.
A new post office is going to be located at the old Jones center on Highway 1.
NEW YORK CITY — Muss Development has acquired 64 W. 48th St., a 17-story office building in the Rockefeller Center area of Manhattan, New York City. Muss plans to reposition the 130,000-square-foot facility into a first-class boutique office building. A multi-million capital improvement plan will include a newly restored lobby, as well as new elevator cabs, windows and bathrooms. The developer purchased the property for $54.5 million from an undisclosed buyer. Mark Lauzon of Cushman & Wakefield is the exclusive leasing agent for the office space, and Jedd Nero of CB Richard Ellis is representing 17,000 square feet of retail space on the first and below grade levels.
NEW YORK CITY — Hudson Realty Capital has provided $11.07 million in financing for the Chelsea Art Museum in Manhattan, New York City. The 28,838-square-foot building, located a W. 22nd St., has been renovated into art galleries. The property also has additional air rights.