MOONACHIE, N.J. — Denver-based EverWest Real Estate Investors has purchased three industrial buildings totaling 190,032 square feet in Moonachie, located in Bergen County, for $65.8 million. The buildings at 135, 137-141 and 170 W. Commercial Ave. feature a combined 26 loading positions and 243 parking spaces and are fully leased to Loomis Armored US, Paris Baguette and Toy Wonders. Gary Gabriel, Kyle Schmidt, David Bernhaut and Seth Zuidema of Cushman & Wakefield represented the undisclosed seller in the transaction. Stephen Feinberg handled the transaction for EverWest on an internal basis.
WINDSOR, N.J. — Cronheim Mortgage has arranged a $19 million permanent loan for The Shops at Windsor Green, a 157,200-square-foot retail center in West Windsor, a northeastern suburb of Trenton. Whole Foods Market, Marshall’s and Staples are the anchor tenants at the property, which was originally built in 1993. Andrew Stewart, Dev Morris and Allison Villamagna of Cronheim Mortgage placed the loan with a life insurance company on behalf of the borrower, Mainardi Management Co. The loan carried a seven-year term and fixed interest rate of 3 percent.
PALMYRA, PA. — Marcus & Millichap has brokered the $18.1 million sale of Shadow Stone Village, a 188-unit manufactured housing community in Palmyra, an eastern suburb of Harrisburg. Glenn Esterson, Dylan Hellberg, Parker Kelly and Ryan Brands of Marcus & Millichap represented the seller, a partnership, in the transaction and procured a limited liability company as the buyer. Both parties requested anonymity. Sean Beuche of Marcus & Millichap assisted in closing the deal as the broker of record. Shadow Stone Village was fully occupied at the time of sale and offers a gym, library and community center.
WALLINGTON, N.J. — Locally based investment firm Devli Real Estate has acquired four industrial properties totaling approximately 80,000 square feet in Northern New Jersey. The properties include a three-building complex in Howell that was built in 2005 and vacant buildings in Moonachie and Fair Lawn, as well as a two-acre development site in North Bergen. The sellers were not disclosed.
NEW YORK CITY — CBRE has negotiated the $1 billion sale of Hudson Commons, a 697,958-square-foot office tower located at 441 Ninth Ave. in Manhattan. The 25-story building, which is a redevelopment of a warehouse, occupies a full city block in between 34th and 35th streets at the nexus of the Hudson Yards and Manhattan West neighborhoods. The building includes 16,000 square feet of ground-floor retail space. The seller, a partnership between locally based developer Cove Property Group and Boston-based The Baupost Group, acquired the warehouse in 2016. The partnership added 18 stories as part of the office conversion project. Other building features include 16,000- to 50,000-square-foot floor plates and 14- to 28-foot ceiling heights. A CBRE team comprising Darcy Stacom, Bill Shanahan, Doug Middleton and Alana Bassen represented the seller in the transaction. The buyer was Los Angeles-based CommonWealth Partners. At the time of sale, Hudson Commons was about 75 percent leased, with fitness provider Peloton and rideshare giant Lyft serving as the anchor tenants. The property features 30,000 square feet of amenities, including a conference facility, multiple tenant lounges, a bike room and 14 separate outdoor terraces. “This transaction is a bellwether for the resurgence of the office …
WOOLWICH, TOWNSHIP, N.J. — J&J Snack Foods, a food manufacturer known for brands such as Super Pretzel, ICEE and Luigi’s, has signed a 200,640-square-foot industrial lease in Woolwich Township, located in Gloucester County. The space is located within LogistiCenter at Woolwich, a 1 million-square-foot development by Nevada-based Dermody Properties that will be fully complete by late 2022. Drew Green, Paul Touhey and Dan McGovern of CBRE represented the landlord in the lease negotiations. The deal is expected to add about 90 new jobs to the local economy.
PORTSMOUTH, N.H. — Atlantic Capital Partners has brokered the sale of Durgin Square, a 133,924-square-foot retail center in Portsmouth, located in southern New Hampshire. Durgin Square was originally built in 1995. A 41,980-square-foot Whole Foods Market anchors the center, which was 96 percent leased at the time of sale. Other tenants include T.J. Maxx and HomeGoods. Justin Smith, Scott Black, Sam Koonce, Molly Lynch and Ben Starr of Atlantic Capital Partners represented the seller and buyer in the off-market deal. Both parties requested anonymity.
AMHERST AND ORCHARD PARK, N.Y. — Excelsior Orthopaedics has refinanced a portfolio of four healthcare properties totaling 114,250 square feet near Buffalo with a $35.2 million loan. Specifically, the portfolio comprises three medical office buildings in Amherst and a surgery center in Orchard Park. The buildings were constructed between 2008 and 2016 and are 100 percent owner-occupied. Daniel Turley, Anthony Sardo and Brannan Knott of JLL arranged the seven-year, fixed-rate loan through Northwest Savings Bank.
HARTFORD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Folly Brook Manor, a 184-unit multifamily property in Hartford. The seven-building community was built on 17 acres in 1961 and features two-bedroom units with an average size of 800 square feet. Eric Pentore, Victor Nolletti and Wes Klockner of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WILTON, CONN. — Marcus & Millichap Capital Corp. has arranged a $3.4 million acquisition loan for Sun Plaza, an office and retail property in Wilton, located in Connecticut’s Fairfield County. The property was built in 2009 and houses a dental practice and a dance conservatory, among other tenants. The loan carried a seven-year term, 25-year amortization schedule and a 70 percent loan-to-value ratio. The borrower was not disclosed.