PAULSBORO, N.J. — Marcus & Millichap has brokered the sale of a 4,854-square-foot retail property occupied by Wawa in Paulsboro. The property, which is located at 51 Berkley Road, sold for $3.5 million at a 4.69 percent capitalization rate. Derrick Dougherty and Scott Woodard of Marcus & Millichap represented the buyer, a limited liability company, in the transaction. The seller was undisclosed.
CINNAMINSON, N.J. — NorthMarq Capital has secured a $38 million refinancing for Camelot at Cinnaminson, a 405-unit multifamily community in Cinnaminson. The property is located at 198 Camelot Court. NorthMarq arranged the financing for the borrower, Kaplan Cos. The lender was a life insurance company. The permanent, fixed-rate loan was structured with a fully amortizing, 30-year term.
BOREDENTOWN TOWNSHIP, N.J. — JLL Capital Markets has brokered the $19 million sale of Interchange 7 Business Park, a two-building industrial office complex in Bordentown Township. The complex totals 225,164 square feet across one existing two-story building and one existing warehouse. John Plower of JLL represented the seller, Equus Capital Partners, in the transaction. The buyer was undisclosed. The 33-acre property is located less than one mile from Exit 7 on the New Jersey Turnpike and less than one mile from Exit 56 of Interstate 295 in Bordentown Township.
WARMINSTER, PA. — PB Warminster Plaza LLC has acquired Warminster Plaza, a 128,544-square-foot shopping center in Warminster. The sales price was undisclosed. The property is located approximately 27 miles from Philadelphia and is home to a tenant roster that includes SMG SportsPlex at Warminster, AAA, Lee’s Hoagie House, YMCA of Buck’s County, Kid’s First Swim Schools, Pearle Vision Center and Grand Buffett. Chris Munley and Michael DiCosimo of HFF represented the seller, Liberty Capital III, in the transaction.
NEW YORK CITY — Marcus & Millichap has negotiated the $2.5 million sale of a 4,955-square-foot retail property in Pittsburgh. Located at 145 McMurray Road, current tenants include Dunkin Donuts, Baskin Robbins and TOSS Pizza. Alan Cafiero and Ben Sgambati of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was an individual/personal trust. The property was constructed in 2016.
CRANFORD, N.J. — The Goldstein Group has arranged the $2.1 million sale of an industrial property in Cranford. The 1.8-acre property is located at 370 North Ave. E. and includes a vacant, 52,512-square-foot building that was built in 1955. Alan Goldstein of The Goldstein Group represented the buyer, Tulfra Real Estate, in the transaction. The seller was undisclosed.
BAYONNE AND RARITAN, N.J. —Madison Realty Capital has provided $258 million in construction financing for a 1,161-unit multifamily development portfolio in Bayonne and Raritan. The portfolio consists of three large-scale, shovel-ready development sites. The financing will be used to complete site acquisitions and for the construction of all three projects. Jack Klugmann’s Accurate Builders and Developers of New Jersey owns the portfolio. Shaya Ackerman of Meridian Capital arranged the financing. Terms of the financing were not disclosed. “We’re financing three major transit-oriented development sites located in different towns, so clearly there are many moving parts,” says Josh Zegen, managing principal of Madison Realty Capital. “These are prime sites in communities with strong apartment demand based on demographics and transportation connections, and we believe they have great prospects for success.” Harbor Station South in Bayonne will consist of 651 units spread over two buildings. The project is located near the 34th Street Station of the Hudson-Bergen Light Rail system, which provides connections to New York City. A ferry station is also being planned in the vicinity with service to Manhattan and Staten Island. Amenities will include a rooftop pool overlooking the Hudson River, concierge service, a pet center, and a bike …
NEW YORK CITY — Naftali Credit Partners has secured a $50 million construction loan for 145 Central Park North in Manhattan’s Harlem neighborhood. The 13-story condominium project will feature 37 units. Amenities will include a 24-hour doorman, 10 parking spaces, multiple roof terraces, storage and bicycle rooms and a fitness center. Naftali secured financing for an undisclosed borrower through lender Israel Discount Bank. Architectural firm Gluck+ is designing the building.
DARIEN, CONN. — Brokers+Engineers has arranged the $6.9 million sale of a retail property in Darien. Located at 55 Boston Post Road, the 4,380-square-foot property is currently leased to TD Bank. Brokers+Engineers represented the seller, Chimblo Family Real Estate, in the transaction. The buyer acquired the property as part of a 1031 exchange. TD Bank has seven years remaining on its current lease.
ENFIELD, CONN. — Katz Properties has acquired Freshwater-Stateline Plaza, a 300,588 square foot Costco-anchored shopping center in Enfield. The sales price was undisclosed. Located at 130 Elm St., the property is 96 percent occupied by a 136,000-square-foot Costco, a 50,000-square-foot Dick’s Sporting Goods and a Home Depot. The shopping center was built in in 1972. Enfield is approximately 20 miles north of Hartford.