MORRISTOWN, N.J. — TIAA-CREF has acquired 299 Madison Ave, a three-story office building in Morristown. The 57,062-square-foot facility is in close proximity to the Convent Station train station and the Morristown business district. Jeffrey Dunne, Kevin Walsh, Jeffrey Oram, Thomas Mallaney and Daniel Casey of CB Richard Ellis represented the seller, 299 Madison Realty Partners, and procured the buyer in the transaction. The sale price was undisclosed.
Northeast
BRANCHBURG, N.J. — Feist & Feist Realty Corp., an affiliate of Coldwell Banker, has completed the $4.3 million sale of an industrial property located at 47 Readington Rd. in Branchburg. The 77,000-square-foot facility was sold by Southern Wine & Spirit of America to Hampshire Global Partners. John Adams of Coldwell Banker represented the seller, and Thomas Monahan of Colliers Houston represented the buyer in the transaction.
NEW YORK CITY — Construction is underway on a new 369-unit rental tower located at 316 Eleventh Ave. in the West Chelsea area of Manhattan, New York City. The 34-story tower is being developed by Douglaston Development, an affiliate of Levine Builders. Amenities include a 5,600-square-foot rooftop terrace, 4,000 square feet of retail space and 28,000 square feet of parking.
MOOSIC, PA. — Hinerfeld Commercial Real Estate has completed the sale of 625 Rocky Glen Rd., a 42,000-square-foot warehouse facility in Moosic. Situated on 3 acres off US Route 11, the facility is in close proximity to I-81, 380, 84 and 476. Harry Rothstein of Hinerfeld represented the seller, Carl Touhey, who sold the property to J & J Snack Foods Corp./MIA. The sale price was undisclosed.
MILLS, N.Y. — Thomas Grzebinski of The Rose Hill Group has arranged $3.4 million in permanent financing for The Mill #3 Building, a mixed-use project in Mills. The 104,000-square-foot property features retail tenants, professional offices and service business. The borrower was undisclosed.
NEW YORK CITY — Eastern Consolidated has completed the $24.5 million sale of a six-building portfolio of mixed-use properties throughout the Bronx, New York City. The portfolio contains a total of 30 commercial units and 179 residential units. Four properties — 2195 Grand Concourse, 117 Kingsbridge Rd., 25 Gunhill Rd., and 2424 E. Tremont Ave. — are corner apartment buildings with retail components. The other two properties include 535 E. Tremont Ave. and 4216 Third Ave. Peter Hauspurg, Marcia Rose Yawitz and Harrison Douglas of Eastern Consolidated represented the seller, Intervest Development Corp., and Eastern’s Ronda Rogovin procured the undisclosed buyer in the transaction.
CRANBURY, N.J. — Aurobindo USA has signed a 103,350-square-foot lease at Matrix Development’s distribution facility located at 102 Melrich Rd. in Cranbury. The pharmaceutical company will use the space for office, general warehouse space and distribution space. Matrix was represented in-house in the transaction by Patrick Connelly, and Aurobindo was represented by Charles Fern of Jones Lang LaSalle.
NEW YORK CITY — Carlton Advisory Services has arranged $92 million in senior debt and mezzanine financing for the acquisition of 511-541 W. 25th St. The 158,908-square-foot property, which is located in the Chelsea area of Manhattan, New York City, was purchased by the Cardinal Investment Group. The loan was placed by Michael Campbell, Steve Fenster and Steven Rock of Carlton.
NEW YORK CITY — RKF Investment Sales & Advisory Services has completed the $12.35 million sale of a five-story commercial building in the SoHo area of Manhattan, New York City. The building, which is located at 111 Mercer St., contains 11,332 square feet and is currently vacant. The facility is also approved for the addition of a 1,250-square-foot penthouse. Jeff Fishman, David Alani, Brian Segall, and David Aaron of RKF represented the seller, an undisclosed family from the United Kingdom, and the buyer, Mercer 111, LLC, in the transaction.
NEW YORK CITY — SL Green has negotiated a 156,000-square-foot lease with The Segal Company at 333 W. 34th St. in Manhattan, New York City. The Segal Company will occupy floors two through five of the 10-story building. Currently located at One Park Avenue, the company is expected to move to their new location first quarter 2010.