SOMERVILLE, MASS. — Shawn Herlihy and Christine Morrell of Goedecke & Co.’s Boston office have secured $10 million in permanent financing for One Davis Square in Somerville. The 48,799-square-foot retail/office property features a new CVS/pharmacy on the first level and a new Boston Sports Club on the second level. The facility also includes 12,000 square feet of office space. The loan was funded for the borrower, Krisco Development, by Genworth Life Insurance.
Northeast
NEW YORK CITY — Atlantic Development Group has acquired 80-88 Bruckner Blvd., a 58,570-square-foot site located in the Bronx, New York City. The 1.6-acre parcel was purchased for $17 million from Borda Products. Currently, a 44,310-square-foot building sits on the site, which is located n the corner of Bruckner Boulevard, Willis Avenue and E. 132nd St. David Schechtman of Eastern Consolidated and Barry Fishbach of Robert K. Futterman & Associates represented the seller and procured the buyer in the disposition.
CAPE COD AND BROCKTON, MASS. — Jonathan Aron of NAI Hunneman has brokered the $9.2 million sale of three freestanding CVS Pharmacy locations in Cape Cod and Brockton. In Cape Cod, Liberty Properties purchased two facilities located at 1030 Putman Ave. in Marstons Mills and 176 N. St. in Hyannis. In Brockton, Main Street Brockton, LLC. acquired a facility located at 1933 Main St. Aron represented the seller, an entity affiliated with Coffman Realty, and procured the buyers in both transactions.
HARTFORD, CONN. — New Boston Fund has sold 100 Pearl Street, a 281,000-square-foot office building in Hartford, to The Sliverman Group for an undisclosed amount. The Class A facility is comprised of a six-story low-rise tower and a 17-story mid-rise tower. Amenities include a fitness center, a conference facility, a café, and on-site property management. John McCormick and Pat Mulready of CB Richard Ellis’ Hartford office and Jeff Dunne of CB Richard Ellis’ Metropolitan New York office represented the seller and procured the buyer in the transaction.
JACKSON, N.J. — Marcus & Millichap has completed the $8.5 million sale of a strip shopping center in Jackson. The newly constructed strip center features 32,068 square feet with tenants such as The Learning Experience. Paul Hewitt of Marcus & Millichap represented the seller, Diversified Developers, and Mark Gjonbalaj of Marcus & Millichap represented the buyer, Jackson Square Equities.
PELHAM, N.H. — Hugo Overdeput of Grubb & Ellis|Coldstream Real Estate Advisors has completed the $2.6 million sale of an industrial facility in Pelham. The approximately 83,000-square-foot building sits on about 25 acres at 60 Pulpit Rock Rd. Overdeput represented the seller, Lehman Brothers Small Business of California, and the buyer, J.T. Manufacturing Corp., was represented by Chris Goodnow of Goodnow Real Estate Services.
NEW YORK CITY — SL Green has sold 1250 Broadway in Manhattan, New York City, for $310 million to Murray Hill Properties. The Class A office tower features 670,000 square feet of space spanning 39 stories. Strategically located near Penn Station on Broadway at 31st Street, the property is 99 percent occupied. Cushman & Wakefield represented the seller in the transaction. The sale is slated to close second quarter 2008.
NORTHBOROUGH, MASS. — James Elcock, William Lynch and Timothy O’Brien of Colliers Meredith & Grew have competed the sale of an office and warehouse facility located at 102 Otis St. in Northborough. The 34,140-square-foot building sits on 8.95 acres within close proximity to routes 9 and 495. The Colliers team represented the seller, the 1986 Vincent D. Barletta Trust, and Eric O’Brien of O’Brien Commercial Properties, represented the buyer, Otis Street Properties, in the transaction. The sale price was undisclosed.
BOSTON — EagleBridge Capital has arranged $6 million in acquisition financing for 212 Stuart St., an office building in Boston. Located in the Park Square area of the city, the three-story building is set within a few blocks of Boston Commons, Copley Square and the Newbury Street/Boylston Street shopping area. Brian Sheehan and Ted Sidel of EagleBridge arranged the financing for the undisclosed borrower.
PHILADELPHIA — Gebroe-Hammer has brokered the $1.53 million sale of Ardleigh Gardens, which is located in the East Mt. Airy neighborhood of Philadelphia. Located at 615 E. Upsal St., the 26-unit apartment facility features one- and two-bedrooms units. The building was fully occupied at the time of the sale. Eli Rosen of Gebroe-Hammer brokered the transaction.