Industrial

ELMWOOD PARK, N.J. — A joint venture between Prism Capital Partners and The Davis Cos. has acquired 41 Slater Drive a 180,000-square-foot industrial building in Elmwood Park. The seller was an affiliate of paper products manufacturer Marcal. Constructed in 1972, the property is situated on 11 acres at the intersection of I-80 and River Road. The property consists of 145,000 square feet of warehouse space that is leased to Marcal Paper and 35,000 square feet of office space that is leased by Bio-Reference Laboratories.

NEW YORK CITY — Hudson Realty Capital has arranged a $6 million construction loan for a vacant industrial loft building in the North Williamsburg section of Brooklyn. The property owner plans to renovate the five-story building and reposition it as a residential condominium. Once complete, the building will feature a mix of studio, one-, two- and three-bedroom units, as well as loft apartments.

SOMERSET, N.J. — TA Associates Realty has purchased a 159,000-square-foot industrial property in Somerset from Cornerstone Real Estate Advisors for $10.7 million. Built in 1998, the warehouse and flex building is fully leased to six tenants. The building is located at 65 Clyde Road and features 42-foot clear ceiling heights and 40-foot by 40-foot column spacing. Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of Cushman & Wakefield marketed the property.