BAY SHORE, N.Y. — Duro Dyne Corp., a manufacturer and distributor of sheet metal accessories and equipment for HVAC systems, has signed an 82,064-square-foot industrial lease at 158 Candlewood Road in the Long Island community of Bay Shore. The tenant is expanding from its adjacent location at 81 Spence St. Leslie Lanne, Doug Omstrom and Max Omstrom of JLL represented the landlord, Rockefeller Group, in the lease negotiations. Paul Leone and Phil Heilpern of CBRE represented Duro Dyne.
LOWELL, MASS. — Boutique brokerage firm Peak Real Estate Partners has negotiated the sale of a 62,000-square-foot office and lab building located at 75 Technology Drive in the northern Boston suburb of Lowell. Jumbo Capital sold the property to Boston-based Rhino Capital Advisors for an undisclosed price. Anthony Biette of Peak Real Estate brokered the deal on behalf of both parties. Northmarq arranged acquisition financing through Cambridge Savings Bank. The building was fully leased at the time of sale.
BURLINGTON, MASS. — SRS Real Estate Advisors has arranged the $7.2 million sale of an 8,815-square-foot retail property in the northern Boston suburb of Burlington. The property was built in 2016 and was fully leased at the time of sale to tenants such as Starbucks and Sherwin-Williams. Matthew Mousavi and Patrick Luther of SRS represented the seller, a private regional developer, in the transaction. Susan Harris, also with SRS, represented the buyer, an East Coast-based private partnership. Both parties requested anonymity.
LIVERPOOL, N.Y. — A joint venture between New York-based Taconic Capital Advisors and Friedman Real Estate has purchased three industrial buildings totaling 831,000 square feet in Liverpool, a suburb of Syracuse. The properties were acquired as part of a $46 million portfolio sale that included a 407,000-square-foot distribution center in Waterford, Mich. Rite Aid Corp. sold the buildings and will continue to lease back the space at two of the three buildings as distribution centers for its e-commerce platform. The third building, which is the smallest of the trio at 87,000 square feet, remains vacant. As part of the transaction, the joint venture also purchased more than 50 acres for possible future expansion.
LIVERPOOL, N.Y. — A joint venture between New York-based Taconic Capital Advisors and Friedman Real Estate has purchased three industrial buildings totaling 831,000 square feet in Liverpool, a suburb of Syracuse. The properties were acquired as part of a $46 million portfolio sale that included a 407,000-square-foot distribution center in Waterford, Mich. Rite Aid Corp. sold the buildings and will continue to lease back the space at two of the three buildings as distribution centers for its e-commerce platform. The third building, which is the smallest of the trio at 87,000 square feet, remains vacant. As part of the transaction, the joint venture also purchased more than 50 acres for possible future expansion.
HAVERHILL, MASS. — CBRE has arranged the $77 million sale of Hamel Mill Lofts, a 305-unit apartment community in Haverhill, a northern suburb of Boston. The historic site originally housed the L.H. Hamel Leather Co. complex and was converted to residential use in 2010. The property comprises four apartment buildings with one- and two-bedroom units that have an average size of 846 square feet. Amenities include a clubhouse, gym and a movie theater. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller in the transaction. The trio also procured the buyer, an affiliate of Boston-based DSF Group.
HAVERHILL, MASS. — CBRE has arranged the $77 million sale of Hamel Mill Lofts, a 305-unit apartment community in Haverhill, a northern suburb of Boston. The historic site originally housed the L.H. Hamel Leather Co. complex and was converted to residential use in 2010. The property comprises four apartment buildings with one- and two-bedroom units that have an average size of 846 square feet. Amenities include a clubhouse, gym and a movie theater. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller in the transaction. The trio also procured the buyer, an affiliate of Boston-based DSF Group.
BORDENTOWN, N.J. — Penwood Real Estate has acquired a 275,631-square-foot warehouse in Bordentown, a suburb of Trenton, for $60 million. Building features include a clear height of 24 feet, 16 tailgate doors, 9,108 square feet office space and parking for 80 cars and 120 trailers. In addition, the 39-acre site at 201 Elizabeth St. features four acres of outdoor storage space and can support an additional 140,767 square feet of new construction. Steven Schultz, Steve Tolkach, Kyle Eaton and Tony Georgiev of Newmark represented the seller, O’Donnell Group, in the transaction.
BORDENTOWN, N.J. — Penwood Real Estate has acquired a 275,631-square-foot warehouse in Bordentown, a suburb of Trenton, for $60 million. Building features include a clear height of 24 feet, 16 tailgate doors, 9,108 square feet office space and parking for 80 cars and 120 trailers. In addition, the 39-acre site at 201 Elizabeth St. features four acres of outdoor storage space and can support an additional 140,767 square feet of new construction. Steven Schultz, Steve Tolkach, Kyle Eaton and Tony Georgiev of Newmark represented the seller, O’Donnell Group, in the transaction.
HOBOKEN, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the sale of a portfolio of three contiguous multifamily properties totaling 21 units in the Northern New Jersey community of Hoboken. Two of the buildings were recently renovated, and the third has value-add potential. Robert Squires and Scott Davidovic of Kislak represented the seller, Skylight Real Estate Partners, in the transaction. The duo also procured the buyer, an entity doing business as 510 Observer LLC.