WOBURN, MASS. — An affiliate of San Diego-based developer Fairfield Residential has purchased land at 316 New Boston St. in Woburn, a northern suburb of Boston, for the development of a 425-unit multifamily project. Of those units, 15 percent will be reserved as affordable housing for renters earning 80 percent or less of the area median income. A construction timeline was not disclosed. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller and Fairfield in the $23.4 million sale of the land.
WHITE PLAINS, N.Y. — Houston-based investment firm Interra Capital Group has acquired a 323,431-square-foot office building located on a 21-acre site at 1311 Mamaroneck Ave. in White Plains, located north of New York City. Jeffrey Dunne, Steve Bardsley, Travis Langer, Patrick Arangio, Jack Howard and Kurt Altvater of CBRE represented the undisclosed seller and procured Interra Capital Group as the buyer in the transaction. The building was 53 percent leased at the time of sale.
LEICESTER, MASS. — A partnership between The Brennan Group, John M. Corcoran & Co. and Berkeley Partners has broken ground on Gateway Central, a 267,600-square-foot industrial facility in Leicester, located outside of Worcester in the central part of the state. Building features will include a clear height of 36 feet, 45 overhead doors, three drive-in doors, 299 vehicle parking spaces and 59 trailer parking stalls. Completion is slated for the second quarter of next year. Newmark has been tapped as the leasing agent in conjunction with Kelleher & Sadowsky. HarborOne Bank provided construction financing.
NEWTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $22.5 million sale of a portfolio of three multifamily properties totaling 115 units in the Northern New Jersey community of Newton. Swartswood Gardens totals 32 units in one- and two-bedroom formats; Stonewood Apartments comprises 32 apartments in studio, one- and two-bedroom floor plans; and Mill Street Manor offers 51 residences in one-, two- and three-bedroom configurations. Joseph Keenan and Justin Lupo of Kislak represented the sellers, Red Knight Properties, in the transaction. The duo also procured the undisclosed buyer, which completed the purchase via a 1031 exchange.
SAUGUS, MASS. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a retail building formerly occupied by Sears that is located within Square One Mall in Saugus, a northern suburb of Boston. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
WHITE PLAINS, N.Y. — San Francisco-based Friedkin Property Group has acquired Windsor at the Gramercy, a 260-unit multifamily property located north of New York City in White Plains, for $113 million. Built in 2003, the property features one- and two-bedroom units that are furnished with stainless steel appliances, built-in workstations, breakfast bars, walk-in closets, full-sized washers and dryers and private balconies/patios. Amenities include a pool, fitness center, theater, clubhouse, billiards room and a dog park. Jeff Dunne, Eric Apfel, Jeremy Neuer, Stuart MacKenzie and Zach McHale of CBRE represented the seller, institutional investment firm GID, in the transaction.
NEW YORK CITY — Financial services and investment management firm Franklin Templeton has signed a 347,474-square-foot lease at One Madison Avenue, an office building in Midtown Manhattan that is currently under construction. One Madison Avenue, which is scheduled for a November 2023 completion, is now 55 percent preleased. Other tenants include IBM (328,000 square feet) and Chelsea Piers Fitness (56,000 square feet). Rob Lowe, Jeff Cushman and John Cushman of Cushman & Wakefield represented the tenant in the lease negotiations. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of JLL represented the landlord, SL Green.
HAVERHILL, MASS. — JLL has negotiated the $36 million sale-leaseback of a 108,689-square-foot cold storage facility located on the northern outskirts of Boston in Haverhill. Building features include clear heights of 27 to 40 feet, 12,000 pallet positions, 21 dock-high doors and 6,000 square feet of office space. Michael Restivo, Lenny Pierce and David Coffman of JLL represented the seller, an entity doing business as CF Cold Storage LLC, in the transaction. An affiliate of Cold Scout Storage purchased the facility and will lease it back to the seller on a short-term basis.
CLIFTON, N.J. — Cushman & Wakefield has brokered the $16 million sale of a 62,535-square-foot medical office building located in the Northern New Jersey community of Clifton. Frank DiTommaso, David Bernhaut, Gary Gabriel and Max Helfman of Cushman & Wakefield represented the seller, First Equity Development Co., in the transaction. The buyer was a joint venture between Florida-based Rendina Healthcare Real Estate and Artemis Partners. At the time of sale, the property was fully leased to 10 tenants.
NEW YORK CITY — Sapphire Acquisitions has purchased a single-room occupancy (SRO) residential building located at 342 W. 71st St. on Manhattan’s Upper West Side for $6.7 million. The property houses 126 units, equating to a sales price of roughly $53,000 per unit. Michael Ferrara and Alan Stenson of Brax Realty represented the seller, Riverside Studios, in the off-market transaction and procured Sapphire Acquisitions as the buyer.