NEW YORK CITY— Kalmon Dolgin Affiliates (KDA) has negotiated the $16.5 million sale of a 70,000-square-foot industrial property in Queens. The property formerly housed several tenants that used the space for warehousing and distribution. The buyer plans to demolish the building and build a self-storage facility. Neil Dolgin and Grant Dolgin of KDA represented the seller, Monitor Holding Corp., as well as the buyer, 74-16 Grand Ave. LLC, in the transaction.
MIDDLETON, CONN. — Chozick Realty Inc. has brokered the $15.6 million sale of Stonegate Apartments, a 179-unit multifamily property in Middleton, located just south of Hartford. The property at 1150 South Main St. offers 121 one-bedroom units and 58 two-bedroom units, with amenities including a pool, outdoor grilling areas and walking paths. The complex was originally built in 1969. Rick Chozick and Steve Pappas of Chozick Realty represented the seller in the transaction and procured the buyer, a regional owner of multifamily properties in the tri-state region.
KINGSTON, MASS. — Local design-build firm Dacon Corp. has completed a 62,000-square-foot renovation project at the headquarters of the Sheehan Family Cos., a distributor of beer and spirits in the Northeast region. The property is located in Kingston, a city on the southeast coast of Massachusetts. Renovations expanded the facility by 47,000 square feet, adding more temperature-controlled areas, storage space and efficient distribution capabilities. Renovations to the existing facility covered an additional 15,000 square feet.
UNION, N.J. — Jeffrey Realty has arranged a 46,800-square-foot retail lease in Union, a town just southwest of Newark, for Burlington Coat Factory. The property, formerly a Toys R Us, is located in the West Branch Commons shopping center, which is anchored by a Lowe’s and other retail businesses. Bill Farkas and Mike Testa of Jeffery Realty represented the landlord, Urban Edge, in the transaction. Cliff Simon of CNS Real Estate represented Burlington Coat Factory.
SYOSSET, NEW YORK — Locally based investment firm Milvado Property Group has acquired two office properties on the Long Island city of Syosset for $18.7 million. The properties, 6801 and 6901 Jericho Turnpike, total 220,000 square feet. The locations offer close access to the Long Island Railroad, as well as tJFK, LaGuardia and MacArthur Airports. Gary Gabriel, David Bernhaut and Andrew MacDonald of Cushman & Wakefield represented the seller, The Rosmarin Family, in the transaction.
NEW YORK CITY — Local developer DH Property Holdings (DHPH) has broken ground on an 85,000-square-foot speculative distribution center in the Red Hook section of Brooklyn. The single-story property, located at 55 Bay St., will feature 36-foot clear heights, 54-by-58-foot column spacing, 18 loading docks and two drive-in doors. Construction is expected to be complete in the second quarter of 2020. Rob Kossar and Leslie Lanne of JLL will handle leasing.
MONTVILLE, N.J. — A partnership between two New Jersey-based firms, Camber Real Estate Partners and Advance Realty Investors, has sold 19 Chapin Road, a 529,000-square-foot industrial property in Montville, located in the northern part of the Garden State. The four-building property is equipped with a total of 88 loading positions, including 76 dock-high doors, 12 drive-in doors and clear heights ranging from 20 to 22 feet. A variety of industrial and shipping tenants occupy 93.7 percent of the property. Jose Cruz, Marc Duval and Jordan Avanzato of JLL represented the seller in the transaction. A partnership between Cohen Asset Management Inc. and Intercontinental Real Estate Corp. purchased the property for an undisclosed price.
SPRINGFIELD, MASS. — Newmark Knight Frank (NKF) has brokered the $10.2 million sale of Springfield Commons, a 182,400-square-foot retail center located in the southwestern Massachusetts city of Springfield. Walmart anchors the property, which also houses tenants such as Dollar Tree and Sonic. Geoffrey Millerd, Justin Smith, Paul Penman, Samantha Torto and Robert Griffin represented the undisclosed seller and procured the buyer, Paramount Realty Services Inc.
PISCATAWAY, N.J. — Colliers International has arranged the $11.5 million sale of Washington Plaza, a Class A office property in Piscataway, located in northeast New Jersey. The 200,000-square-foot property is located at 1551 South Washington Ave. Eight tenants occupied less than 50 percent of the building at the time of sale. Jacklene Chesler, Matthew Brown, Frank Summers, Michael Tesser and Ryan Haggerty of Colliers represented the buyer and seller in the transaction. Both parties requested anonymity.
HARRISBURG, PA. — Realterm Logistics, a Maryland-based investment firm, has acquired a 311,000-square-foot distribution facility in Harrisburg. Built on 52 acres in 2004, the property features 37-foot clear heights, 99 dock-high doors, six drive-in doors and immediate access to I-76, I-83 and I-81. Brandon Moghimi and Brad Feller of Stan Johnson Co. represented the undisclosed seller in the transaction. The property was fully leased at the time of sale.