HOBOKEN, N.J. — Spirit Bascom Ventures has acquired a 30-unit apartment building in Hoboken. The sales price was $15.5 million. Located at 204 Grand St., the six-story property was built in 2000. The building consists of a mix of one- and two-bedroom apartments. Nat Gambuzza and Manny Sanghera of CBRE represented the undisclosed seller in the transaction. Jamie Leachman of HFF arranged acquisition financing for Spirit Bascom through Citizens Bank.
STAMFORD, CONN. — Angel Commercial has brokered the $4.8 million sale of an industrial facility in Stamford. Located at 72 Camp Ave., the 33,822-square-foot, two-story property is in the Springdale section of Stamford . The two tenants in the building are Building Blocks Learning Center and Upper Deck Fitness. Jon Angel of Angel Commercial represented both the buyer, 132 Jamaica Avenue Realty Corp., and the seller, 72 Camp Avenue LLC.
AUBURN, MASS. — The Stubblebine Co. has negotiated the $4.4 million sale of a 75,000-square-foot industrial facility in Auburn. Located at 33 Sword St., the three-acre property was the former Imperial Distributors distribution center before Imperial relocated to its current location in Worcester. David Skinner, David Stubblebine and James Stubblebine of Stubblebine Co. represented the undisclosed seller in the transaction. The buyer was F.W. Webb Co., a wholesale distributor of plumbing, heating, cooling and industrial products. F.W. Webb currently has a location at 43 Sword Street and plans to open a new wholesale store at 33 Sword Street.
ELMWOOD PARK, N.J. — NAI James Hanson has secured a 5,000-square-foot industrial lease in Elmwood Park. Located at 475 Mola Blvd., the property includes six loading docks, one drive-in door and 165 parking spaces as well as 7,000 square feet of office space. Jeff DeMagistris, Tom Ryan and Tom Vetter of NAI James Hanson represented the owner, the Stro Cos., in securing the lease with healthcare solutions provider Digirad Corp. Achieve 24 Fitness currently operates 13,000 square feet of the building as a fitness center.
Retail inventory in Southern New Hampshire totaled 29.8 million square feet in 2018, a nominal gain of 42,900 square feet from 2017. Vacancy increased 41,200 square feet, equating to a vacancy rate of 9.3 percent compared to 9.1 percent last year. The higher rate can be mainly attributed to closings by Toys ‘R’ Us (four namesake stores and two Babies ‘R’ Us stores) and Walmart (two Sam’s Clubs). Offsetting these closings were openings that filled several large vacancies. Three vacant Sports Authority stores were occupied by HomeGoods, Sierra Trading Post, Cost Plus World Market, Guitar Center, Party City and DSW. BJ’s Wholesale Club opened in the vacant Sam’s Club in Manchester. A vacant center in Merrimack, now known as Merrimack 360, is under redevelopment. Planet Fitness opened there and an Altitude Trampoline Park is planned. Other announced tenants include Dollar General, Great Clips and The Thirsty Moose Taphouse. As a result of these changes, absorption was flat for the year. The retailer adding the most space in the region was BJ’s Wholesale Club, which opened 108,900 square feet in Manchester. Cardi’s Furniture and NH1 Motorplex Indoor Karting were next, filling space at Seacoast Shopping Center in Seabrook. Sam’s Club, Toys …
NEW YORK CITY — Eunate Real Estate NY LLC has acquired a 4,620-square-foot retail condominium in Nomad. The sales price was $26.5 million. Located at 212 Fifth Ave., the property includes more than 200 feet of wraparound frontage. At the time of sale, the property was fully occupied. Christine Trainaand Elissa Slanof Douglas Elliman Real Estate represented Eunate Real Estate in the transaction. The sellers, Building and Land Technology and Madison Equities, were represented by Cushman & Wakefield.
SYRACUSE, N.Y. — Jacobson Properties and Cushman & Wakefield/Pyramid Brokerage Co. have negotiated the $18.9 million sale of Hill Medical Center, an 81,859 square foot medical office building located on the downtown campus of SUNY Upstate University Hospital in Syracuse. Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Co. represented the seller, Business Venture Associates Limited Partnership, in the transaction. The buyer was a national private equity healthcare investor. Hill Medical Center is 98 percent leased and is anchored by SUNY Upstate University Gastroenterology, Upstate Cancer Center Hematology/Oncology at the Hill, Upstate Cancer Center at Hill Radiation Oncology and St. Joseph’s Hospital Cardiology.
SMITHFIELD, R.I. — HFF has brokered the sale of the Hampton Inn & Suites Providence/Smithfield, a 101-room hotel in Smithfield. The sales price was undisclosed. Located at 945 Douglas Pike, the four-story hotel features 22 suites. Amenities include an indoor heated pool, fitness center and guest laundry facilities. Daniel C. Peek, Denny Meikleham, Alan Suzuki, KC Patel, Matthew Enright and James Koury of HFF represented the institutional seller in the transaction. The buyer was Excel Group, which plans to fully renovate the hotel.
EDISON, N.J. — Avison Young New Jersey has secured a 10-year, 208,391-square-foot lease for Concordance Healthcare Solutions in Edison. The healthcare distribution company will use the facility, which is located at 60 Distribution Blvd., as a new warehouse and distribution center for medical supplies and healthcare equipment. Timothy J. Cadigan, Matthew C. Turse and John Recchia of Avison Young negotiated the deal as a direct lease with the building owner, Heller Industrial Parks Inc.
NORTH ANDOVER, MASS. — Colliers International’s Boston-based Capital Markets group has arranged a $9.6 million acquisition loan for a 169,000-square-foot, single-story industrial asset in North Andover. Located at 25 Commerce Way, the property is situated on more than 18 acres of land. At the time of sale the facility was 99 percent leased to seven tenants. The property was completely renovated in 2001 and is less than 30 miles from Boston. Adam Coppola, Thomas Welch, John Poole and Tonia Jenkins of Colliers represented the borrower, Berkeley Partners, in arranging the financing through lender AEGON USA Realty Advisors. Terms of the financing were not disclosed.