WALTHAM, MASS. — The Stubblebine Co., a CORFAC member, has negotiated the $2 million sale of a 4,600-square-foot industrial building in Waltham, a western suburb of Boston. Located at 1254-1256 Main St., the Class C property was built in 1950 and has been used for light manufacturing. Ellen Garthoff of The Stubblebine Co. represented the seller, 1256 Main LLC, in the transaction. Ben Herman of Valender Properties represented the buyer, private investor Marc Resnick.
State College, PA. — Toll Brothers Campus Living is set to open Phase I of The Yards at Old State, a 1,093-bed student housing development located near Pennsylvania State University in State College. The first phase of development will include 164 fully furnished, cottage-style units. Shared amenities will include a 21,000-square-foot clubhouse, resort-style swimming pool with hot tubs, an indoor basketball court, a state-of-the-art fitness center and study spaces. Phase I is set to open in summer 2020.
WEST CREEK, N.J. — The Walters Group has completed three of the five buildings at its 60-unit Cornerstone at Grassy Hollow development in West Creek, located approximately 55 miles southeast of Philadelphia. The property offers one-, two- and three-bedroom floor plans and amenities including a community clubhouse, fitness center and picnic area. Walters expects to complete the remaining two buildings this spring.
VINELAND, N.J. — Columbia Care, a cannabis-based health and wellness company, has purchased a 50,274-square-foot industrial property in Vineland, located approximately 40 miles south of Philadelphia. Situated at 1560 N.W. Blvd., the property features 27-foot ceiling heights and 2,749 square feet of office space. The property was vacant at the time of sale. Jonathan Klear and Fred Meyer of NAI Mertz represented the seller, LS Capital, in the transaction. The sales price was undisclosed.
WEST HAVEN, CONN. — Houlihan-Parnes Realtors LLC has brokered the $2.1 million sale of Woodlawn Shopping Center, a 31,150-square-foot retail center in West Haven, a southwestern suburb of New Haven. At the time of sale, space at the shopping center was leased to 10 retail tenants including several restaurants, a bowling alley and a beauty salon. The property also includes a 20,000-square-foot vacant parking lot across the street. Jeremiah Houlihan of Houlihan-Parnes represented the buyer, a family-owned real estate holding and managing company based in Yonkers, New York. The seller was undisclosed.
MIDDLETOWN, N.J. — Marcus & Millichap has arranged the $3.9 million sale of The Lincroft Grove, a 12,000-square-foot retail strip in Middletown, located approximately 50 miles south of New York City. Located at 644 Newman Springs Road, the property was leased to several restaurants at the time of sale. ACME Markets and Bank of America Financial Center anchor an adjacent retail center. Jason Petrick of Marcus & Millichap represented the seller in the transaction. Michael Lombardi of Marcus & Millichap represented the buyer. Both investors were limited liability companies that requested anonymity.
WHITE PLAINS, N.Y. — A joint venture between Jack Sitt Real Estate LLC and GII LLC, a UAE-based financial service firm, has acquired Grand Street Plaza, an office property located northeast of New York City in White Plains. The sales price for the 217,628-square-foot, two-building property was $42.5 million. Located at 140 and 150 Grand St., the Class A property was 90 percent leased at the time of sale, primarily to government- and law-related tenants. Jeffrey Dunne, Steven Bardsley and Jeremy Neuer led a CBRE team that represented the seller, an a fund managed by Westport Capital Partners LLC, in the transaction. The team also procured the the joint venture as the buyer.
WEST BERLIN, N.J. — Colliers International has negotiated the $16 million sale of a 21-building industrial portfolio in West Berlin, a southeastern suburb of Philadelphia. The portfolio totals 241,410 square feet and includes the 16-building Bloomfield Business Park and five buildings in Commerce Lane Business Park. The Bloom Organization developed Bloomfield Business Park in the late 1980s and early 90s in several phases. The portfolio housed 55 tenants and was 98 percent leased at the time of sale. Tenants included United Refrigeration, Cooper Electric and Ewing Irrigation & Landscape Supply. Ian Richman and Marc Isdaner of Colliers represented the undisclosed seller(s) in the transaction. Michael Brown Sr. represented the buyer, Industrial Investments Inc., on an internal basis.
NEW YORK CITY — StorQuest Self Storage has opened a 1,092-unit facility in the Brownsville neighborhood of Brooklyn. Located at 507 Osborn St., the facility offers month-to-month rentals for climate-controlled units and business storage. StorQuest is a subsidiary of The William Warren Group Inc., an owner and operator of self-storage assets.
PORTLAND, MAINE — A partnership between Confluent Senior Living and Harbor Retirement Associates has broken ground on HarborChase of South Portland, a 123-unit seniors housing community in Portland. Located at 165 Running Hill Road, the 116,000-square-foot community will offer 83 assisted living units and 40 memory care apartments in one- and two-bedroom floorplans. Amenities will include multiple restaurants, a barbershop and a fitness center. EGA Architects is designing the project, and Whiting-Turner is the general contractor. The community is slated to open in summer 2021.