NEW YORK CITY — A joint venture between Waterbridge Capital and RedSky Capital has acquired a 110,000-square-foot parcel in Williamsburg for $66 million. Gabe Saffioti and Benjamin Trapper of Eastern Consolidated introduced the two firms for the purpose of arranging the joint venture The Bedford Avenue parcels are situated across the street from a new Whole Foods and include 237-241 Bedford Ave.; 158-160 N. Fourth St.; and 151-173 N. Third St. Combined, they comprise 50,000 square feet of retail space, 39 residential units and a 5,000-square-foot vacant lot. The new owners plan to redevelop and improve the retail spaces.
Mixed-Use
NEW YORK CITY — Bogart Plaza has purchased a 46,000-square-foot parcel at 79 Bogart St. in Brooklyn for $4.3 million. 79 Bogart St. is one of the last large, vacant spaces in the mixed-use area of Brooklyn. Joel Kohn and Avrum Lieber of Kalmon Dolgin Affiliates represented the seller, BBM LLC, in the transaction. Jacques Wadler, also of Kalmon Dolgin Affiliates, represented the buyer.
DES MOINES — The Silverman family has purchased West Glen Tower, a mixed-use property in West Des Moines for $34.5 million. The 400,000-square-foot property includes retail, office, entertainment and apartment space. The mixed-use center was completed in 2008, with three lots yet to be developed. Based on local business journal reports, its 123 residential units are 70 percent occupied but its office buildings are largely vacant. World Group Commercial Real Estate of Omaha, an affiliate of the Silverman family, will manage the property. Metonic Real Estate Services represented the Silverman family, which owns developments across the Midwest, in the deal.
NEW YORK CITY — Hidrock Realty has purchased a 6,160-square-foot development site at 133-135 Greenwich Street in Manhattan for $28 million. The site has approved design plans created by architect Costas Kondylis for the construction of a 150,000-square-foot mixed-use building. David Schechtman and Lipa Lieberman of the New York City office of Eastern Consolidated represented the buyer in the deal. Adelaide Polsinelli and Robert Khodadadian of the same office procured the buyer. Developer Sam Zell had previously bid on the site in 2010 after its Israeli owners filed for bankruptcy. They had paid $45 million at the height of the real estate boom and planned a 203-room hotel.
NEW YORK CITY — Gene Kaufman Architects has been selected to design 500 Metropolitan Ave., a 200,000-square-foot, mixed-use development in Brooklyn. The 15-story building is slated to include 189 hotel rooms, 58 condominiums and street-level shops. The property will also contain athletic facilities, catering and event space and a spa. The Chetrit Group is the project developer.
CAMBRIDGE — The Beal Cos. has selected Roundhill Construction to create two separate office and lab space build-outs at One Kendall Square in Cambridge. Roundhill will create 10,000 square feet of laboratory and office space for GnuBIO, a privately held company that develops gene sequencing technology for clinical applications. Roundhill will also fit out 4,500 square feet of office space for Crashlytics, a start-up company that creates debugging and crash reporting software for mobile computer device applications. Owned by The Beal Cos., One Kendall Square is a 770,000-square-foot, mixed-use property.
NEW YORK CITY — Daniel Hlipert of Mortgage Equicap has arranged a $6.2 million bridge loan for the acquisition of a development site in Soho. The borrower, a foreign developer, plans to develop retail and luxury condominiums on the site. The property currently contains a vacant, two-story structure.
CICERO, ILL. — Wirtz Realty is nearing completion of a 604,970-square-foot office, warehouse and distribution facility in Cicero for Wirtz Beverage Illinois (WBI), a beverage and alcohol distributor. Cicero is located about 16 miles west of Chicago. The $80 million facility will serve as WBI's Illinois hub for sales, wine and spirit distribution and training programs. Wirtz redeveloped 35 of 66 acres, formerly known as the Sportsman's Park Race Track, into an automated warehouse and distribution center connected with a two-story office and conference center. Site features include a pedestrian pathway, a public park, and a regulation-size Bobby Hull Community Ice Rink, which opened in December 2011. Chicago-based companies Cicero Warehouse LLC and 35L Sportman's LLC purchased the property from the Town of Cicero in January 2011. The facility's grand opening is scheduled for this May. The project team also includes architects Ware Malcomb, Spaceco Engineering and general contractor Ryan Cos.
NEW YORK CITY — Trevi Retail has purchased a mixed-use building at 22 E. 13th St., between Fifth Avenue and University Place in New York City, for $4.8 million. The five-story building contains 4,099 square feet. The building includes a two-story restaurant space occupied by City Tavern, which is leased until 2016. There are five apartment units above. James Nelson, Mitchell Levine, Caroline Hannigan, Matt Nickerson and Matt Bowman of Massey Knakal Realty Services represented the buyer in the transaction. They also represented the seller.
SACRAMENTO, MOUNTAIN VIEW, CALIF. — Matt Swanston of Preferred Capital Advisors has arranged two ground-up construction loans totaling $44.5 million. A $27-million loan was allocated for a 70,232-square-foot, build-to-suit facility in Mountain View for Nuance Communications. The project is located at 899 West Evelyn Road. A $17.5-million loan was also provided for an 84-unit mixed-use urban project at 16th and “O” streets in Sacramento. Both loans were provided by national banks.