HACKETTSTOWN, N.J. — Saddleback Real Estate Developers has sold a 50,000-square-foot industrial building in Hackettstown, about 65 miles west of New York City, for $13 million. The buyer was Bytech, a Brooklyn-based mobile accessories manufacturer. The newly constructed building at 999 Willow Grove St. features clear heights of 28 to 32 feet, four loading doors and an acre of outdoor storage space. Robert Adams of Garden State Realty brokered the sale of the building, which was financed by Kearny Bank.
SCARBOROUGH, MAINE — The RAM Cos., a Maine-based investment firm, has purchased a 66,000-square-foot vacant industrial building in Scarborough, located just south of Portland. The site at 16 Washington Ave. spans 15 acres within Scarborough Industrial Park. The building, which was formerly owned and occupied by packaging products and services provider Sonoco Corp., offers a clear height of 23.5 feet and more than 100 parking spaces. RAM Cos. plans to make capital improvements to the building.
WOODBRIDGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $90 million sale of a portfolio of 10 multifamily properties totaling 540 units in Northern New Jersey. The properties range in size from 14 to 275 units and are scattered across municipalities such as Roselle Park, Elizabeth and Rahway. Jeff Squires of Kislak represented the seller, New Jersey-based owner-operator Landmark Cos., in the transaction. The buyer was not disclosed.
BRISTOL, CONN. — JLL has brokered the sale of Bristol Plaza, a 263,829-square-foot shopping center located approximately 20 miles southwest of Hartford, for $44.4 million. Anchored by regional grocer Stop & Shop, Bristol Plaza was 93.1 percent leased at the time of sale. Other tenants include T.J. Maxx, Burlington, Dollar Tree and Starbucks. Chris Angelone, Zach Nitsche, Alex Quinn, Sam Wiesman and Henry Schaffer of JLL represented the seller, Federal Realty Investment Trust, in the deal. The buyer was Sterling Organization.
BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has arranged a $43.5 million CMBS loan for the refinancing of a 323,260-square-foot industrial building in Buffalo. The address was not disclosed. Completed in 2022, the rail-served building features a clear height of 40 feet and was fully leased at the time of the loan closing. Jack Phillips led the transaction for Largo Capital. The borrower and direct lender were also not disclosed.
FAIRFIELD, N.J. — A joint venture between Legacy Real Estate Developers and Commerce Park Investors has acquired a 26,630-square-foot industrial building in the Northern New Jersey community of Fairfield. The partnership plans to redevelop the building at 611 Union Blvd., which was originally constructed in 1980 as the home of the Knickerbocker Machine Shop, to support retail and flex uses in addition to industrial. Howard Weinberg of JLL brokered the sale. The seller and sales price were not disclosed.
ISELIN, N.J. — Newmark has arranged a $98 million acquisition loan for The Grande at MetroPark, a 356-unit multifamily property located in the Northern New Jersey community of Iselin. Built in phases between 2019 and 2023, the property offers studio, one- and two-bedroom units, as well as a penthouse suite. Amenities include multiple lounges, game rooms, fitness centers, catering kitchens and coffee bars, as well as a conference center, putting green, pool, dog park and an outdoor theater. Jordan Roeschlaub, Christopher Kramer, Adam Doneger and Ryan Bub of Newmark arranged the loan on behalf of the borrower, a partnership between Brooksville Co. and Torchlight Investors. The direct lender was not disclosed.
NEW YORK CITY — The New York State Office of the Attorney General (NYS AG) has signed a 378,438-square-foot office lease expansion and extension at 28 Liberty Street, a 60-story, 2.1 million-square-foot building in Lower Manhattan. The deal comprises an extension of the existing 342,484 square feet across floors 13 through 21 and 23, as well as a 35,954-square-foot expansion for the entire 22nd floor. Peter Riguardi, John Wheeler, Mitchell Konsker and Michael Berman of JLL represented the undisclosed landlord in the lease negotiations. The tenant was self-represented.
MANCHESTER, N.H. — Regional brokerage firm Atlantic Capital Partners has negotiated the $7.8 million sale of a 51,600-square-foot industrial building in the southern New Hampshire city of Manchester. The building at 85-95 Faltin Drive features a clear height of 16 feet and multiple loading docks. Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin and Matt Ericson of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
EPHRATA, PA. — CBRE has brokered the sale of Ephrata Commons, a 54,810-square-foot shopping center located roughly midway between Philadelphia and Harrisburg. Regional grocer Redner’s Markets anchors the center, which is also home to tenants such as Tigon’s Nail & Spa, Wild Wings & Pizza and Gehman Jewelers. S&S Singh Partners purchased the center from Heidenberg Properties Group for an undisclosed price. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE brokered the deal.