GLEN FALLS, N.Y. — Scott DeVinney of NorthMarq Capital’s Rochester, N.Y., office has arranged $4 million in first-mortgage financing for a mixed-use property located on Warren Street in Glen Falls. The financing was secured through M & T Bank and was based on a 7-year term with a 25-year amortization schedule. The property contains 27 apartment units and 20,000 square feet of office space.
GARLAND — San Antonio-based USAA Real Estate Co. has sold 5th Street Crossing, a mixed-use development consisting of 188 Class A multifamily units and approximately 12,000 square feet of retail/office space at 351 N. 5th St. in Garland, to Minneapolis-based Oaks Properties LLC. The development was completed in 2009 through a development partnership between USAA Real Estate Co. and High Street Residential, a subsidiary of Trammell Crow Co. Mark Stymiest of CB Richard Ellis represented USAA Real Estate Co. in the transaction with Oaks Properties.
NEWARK, N.J. — The Manischewitz Co. has opened a new 200,000-square-foot facility, located at 30 Ave. K in Newark's East Ward, for its new corporate headquarters and plant. The facility allowed the company to consolidate its operations to one building.
BROOKLYN, N.Y. — New York-based GFI Realty Services has negotiated the $10 million sale of Atlantic Gardens, eight mixed-use buildings located at 525-541 Atlantic Ave. in Brooklyn. The buildings contain 22 apartments and eight commercial units. Lon Rubackin, formerly of GFI, represented the seller, a private investor, and Rick Helfand and Shawn Sadaghati, also of GFI, represented the buyer.
MIAMI — NoBe Bay Holdings, the joint venture between 13th Floor Investments and Key International, has purchased a mixed-use property on Miami Beach; The joint venture will invest $10 million during the next year to complete construction. The property, located at 6700 Indian Creek Dr., includes a partially completed 15-story, 98 unit waterfront condominium, a 463 space parking garage and 12,000 square feet of commercial space.
NEW YORK CITY — New York City-based Eastern Consolidated has sold two mixed-use buildings, located at 448-452 Broome St. in Manhattan, for $17 million. David Schechtman, Azita Aghravi, Marion T. Jones and Brian Ezratty represented the seller, Spain-based Caixanova, and procured the buyer, a joint venture between Tavros Capital and BLH Management.
CHICAGO — Marcus & Millichap has brokered the sale of a 23,600-square-foot mixed-use property located at 1825 W. Newport Ave. in Chicago's Roscoe Village neighborhood. The property traded for $2.03 million. Occupancy was 50 percent at the time of closing. The new owner plans to operate an upscale daycare on the building's ground floor. Michael Marks and Evan Halkias of Marcus & Millichap's Chicago office represented both undisclosed parties in the deal.
NEW YORK CITY — New York City-based Massey Knakal have brokered the sale of two mixed-use buildings located at 405-407 Atlantic Ave. in Brooklyn, New York City, for $1.87 million. The properties, which total 4,500 square feet, each contain a retail unit on the ground floor and two apartments above. Stephen Palmese and Winfield Clifford of Massey Knakal represented both the buyer and the seller.
SAN FRANCISCO — Holliday Fenoglio Fowler has sold The Cannery, a 98,983-square-foot mixed-use building in San Francisco’s Fisherman’s Wharf district, for $20.58 million. The property received more than 25 offers before it was purchased free and clear of debt. The Cannery was originally built in 1907 as a peach cannery. In the past 50 years, however, the property has operated as a multi-level mixed-use center. Samuel Brownell and Nicholas Bicardo, directors at HFF, represented the seller along with HFF senior managing director Michael Leggett.
NEW YORK CITY — Meridian Capital Group has secured a $7.1 million mortgage to refinance a mixed-use property located at 344-348 West 38th St. in Manhattan. The five-year loan was secured through a local savings bank. Judah Hammer of the New York City office negotiated the financing.