UNIONTOWN, PA. — Marcus & Millichap has negotiated the $1.4 million sale of a net-leased retail property occupied by Olive Garden in Uniontown. Located at 517 W. Main St., the 7,500-square-foot property is situated in a corridor with nearby retailers that include Home Depot and Target. Michael Lombardi and Steven Schiavello of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor.
LODI, N.J. — NAI James E. Hanson has arranged the sale of a 73,373-square-foot industrial facility in Lodi for an undisclosed price. Scott Perkins, Andrew Somple, Greg James, Christopher Todd and Justin Allessio of NAI James E. Hanson represented the seller, AEW, in the transaction. The buyer was Mood Fabrics. Located at 39 Robinson Road, the facility features 29-foot clear heights in 16,447 square feet of the building and 14-foot clear heights through the remaining 56,896 square feet. The facility also includes three tailgates and three drive-in doors.
ALLENTOWN, PA. — Real estate development company City Center Investment Corp. has topped out Five City Center, a 13-story office tower in Allentown. The 300,000-square-foot building is located at Eighth and Hamilton streets and will feature an all-glass exterior with first-floor retail space. Payroll processing provider ADP has leased 243,241 square feet at Five City Center to house its regional sales division. The building is slated to open by Sept. 1, 2019.
NORWOOD, MASS. — NKF Capital Markets has brokered the $23.5 million sale of Norwood Medical Center in Norwood. Located at 825 Washington St., the 92,400-square-foot facility is anchored by Steward Health Care. Frank Nelson, Michael Greeley, James Tribble and Casey O’Brien of NKF Capital Markets represented the seller, Grander Capital Partners, in the transaction. The buyer was an affiliate of Thor Equities.
PHILADELPHIA — Leviathan Capital has secured a $2 million refinancing for a net-leased Rite Aid pharmacy in Philadelphia. Andrew Schnissel and Joe Hach arranged the transaction on behalf of the undisclosed borrower. The five-year loan features a fixed rate of 4.92 percent and a 30-year amortization schedule. The lender was a money center bank.
ALLENTOWN, PA. — HFF has arranged the sale of an 11,900-square-foot retail building leased to CVS Pharmacy in Allentown. Located at 1601 Liberty St., the property is one of only two 24-hour CVS Pharmacies within a 30-mile radius. Marc Mandel and Steve Schrenk of HFF represented the seller, who was undisclosed, in the transaction. SVC Lehigh Valley 1 LLC purchased the asset in an off market transaction. The sales price was undisclosed.
MONTCLAIR, N.J. — Marcus & Millichap has negotiated the $1.6 million sale of two, six-unit apartment buildings in Montclair. The properties are located at 70 Pine St. and 108 Pine St. Julienne Pape of Marcus & Millichap represented the seller and buyer, both private investors, in the transaction. All units in the buildings were recently renovated.
NEW YORK CITY — Mission Capital Advisors has arranged a $137 million refinancing for the Holiday Inn Manhattan-Financial District, a 50-story, 492-room hotel in Manhattan. Located at 99 Washington St., the property was built in 2014 and is the tallest Holiday Inn in the world. Beau Williams, Ari Hirt, Steven Buchwald, Alex Draganiuk and Jamie Matheny of Mission Capital represented the borrower, real estate development firm Golden Seahorse, in securing the 10-year, interest-only loan at a fixed rate through lender Ladder Capital. The property also includes the St. George Tavern, a full-service restaurant and event space. Proceeds from the loan were used to refinance an existing first mortgage and return capital to the borrower.
YARDLEY, PA. — Cushman & Wakefield has secured $63 million in acquisition financing for the Lower Makefield Corporate Center in Yardley. John Alascio, Alexander Hernandez, Sridhar Vankayala and TJ Sullivan of Cushman & Wakefield secured financing on behalf of Rubenstein Partners through lender Rialto Capital Management. The eight-building, 467,000-square-foot office complex includes two campuses on Stony Hill and Township Line roads.
HAMILTON, N.J. — NKF Capital Markets has brokered the $50.5 million sale of a two-building office portfolio in Hamilton. The two net-leased properties are located at 600 and 700 Horizon Drive. The 600 Horizon building is leased to Verizon Communications and 700 Horizon is leased to AAA. Steven Schultz, Kevin Welsh, Steve Tolkach, Tony Georgiev and Brian Schulz of NKF represented the seller, Mack-Cali Realty, in the transaction. The buyer was undisclosed.