Property Type

Prospective Medical Cannabis Grower Buys Industrial Facility in Maryland for $1M

by John Nelson April 12, 2016

HEBRON, MD. — CannaMed Pharmaceuticals LLC, a prospective licensee for one of only 15 medical cannabis growing licenses to be issued in Maryland, has purchased an industrial facility in Hebron. The 47,226-square-foot property is located at 27120 Ocean Gateway and was previously leased to Matech. John McClellan of SVN | Miller Commercial Real Estate brokered the transaction. The state of Maryland is expected to issue CannaMed’s license this summer. The business plans to use 35,000 square feet of the property to house its growing facility and the remaining square footage for research and development of medical cannabis.

April 12, 2016

Multifamily New York Northeast

Rosewood Realty Group Arranges $45.7M Sale of Six-Building Multifamily Package in the Bronx

by Amy Works April 12, 2016

NEW YORK CITY — Rosewood Realty Group has brokered the sale of a six-building multifamily portfolio located in the West Bronx’s Fordham Heights neighborhood. John LaRocca of Arena Real Estate acquired the portfolio from Bernard Miller for $45.7 million. The portfolio contains 305 apartments across 271,000 square feet, including three six-story elevator-serviced buildings and three five-story walk-ups. The properties are located at 2063-2065, 2075, 2084 and 2095 Creston Ave., 108 Field Place and 2324 Morris Ave. David Berger of Rosewood Realty Group represented the seller and buyer in the transaction.

April 12, 2016

Mixed-Use Multifamily New York Northeast Retail

Hubb NYC Acquires 40-Unit Mixed-Use Property in Manhattan for $24.5M

by Amy Works April 12, 2016

NEW YORK CITY — Hubb NYC has purchased a mixed-use property located at 99 Suffolk St. in Manhattan’s Lower East Side. The 40-unit asset sold for $24.5 million, or $830 per square foot. Built in 2004, the 29,600-square-foot building features 35 residential units and five commercial units, currently occupied by Elements Preschool. The residential portion includes three studios, 30 one-bedroom and two two-bedroom units. Michael DeCheser, Darragh Clarke and Mei Ling Wong of Cushman & Wakefield brokered the transaction. The name of the seller was not released.

April 12, 2016

Industrial New Jersey Northeast

Prologis Signs Fedway Associates to 539,000 SF Build-to-Suit Lease in New Jersey

by Amy Works April 12, 2016

ELIZABETH, N.J. — Prologis has entered into a build-to-suit lease agreement with Fedway Associates, a wine and spirits distributor. The company will occupy a 539,000-square-foot stand-alone building at Prologis Ports Elizabeth-Seaport at 10 North Ave. East in Elizabeth. Located off Exit 13A on the New Jersey Turnpike, the distribution center will feature a 539,308-square-foot building and a planned 204,253-square-foot facility.

April 12, 2016

Industrial New York Northeast

Gabrielli Truck Sales Purchases 5.1-Acre Land Tract Near JFK International Airport for $7.8M

by Amy Works April 12, 2016

NEW YORK CITY — Gabrielli Truck Sales Ltd. has acquired a 5.1-acre land tract adjacent to John F. Kennedy International Airport in Queens. Philips International sold the site for $7.8 million. The buyer plans to construct a facility for its own use on the site. Michael Nachamkin and Evan Pariser of HFF represented the seller in the transaction.

April 12, 2016

New York Northeast Retail

SVN Negotiates $6.7M Sale of Retail Property in New York

by Amy Works April 12, 2016

RED HOOK, N.Y. — Sperry Van Ness | Realty Three Advisors has arranged the sale of a retail property located along North Broadway in Red Hook. Allef Main St Partners LLC purchased the building from MC Red Hook NY Landlord LLC for $6.7 million. The free-standing property is net leased to CVS/pharmacy. Patricia Posillico, Lorriane O’Hara and Aric Schachner of Sperry Van Ness | Realty Three Advisors represented the buyer, while Marcus & Millichap represented the seller in the transaction.

April 12, 2016

Northeast Office Top Stories

German Investor Buys 101 Seaport Office Building in Boston for $452M

by Nellie Day April 12, 2016

BOSTON — German investor Union Investment Real Estate GmbH has purchased 101 Seaport, a 440,000-square-foot office building in Boston, for $452 million. The seller, Skanska, developed the building, which it also uses as its Boston headquarters. Skanska broke ground on the LEED-Platinum project less than three years ago. At the time, it was Seaport Square’s first office tower. PricewaterhouseCoopers and Red Thread/Steelcase also use the building as New England headquarters. The office building includes an on-site fitness center. It is situated within walking distance of Q-Park, Seaport Square Green and the Harbor Walk, a pedestrian promenade in the city’s Seaport district. The office building is one of Skanska’s three Seaport Boulevard developments. The company is also building 121 Seaport, a neighboring office tower with ground-floor retail, and recently completed Watermark Seaport, a luxury residential tower with ground-floor retail that Skanska developed with Twining Properties. Newmark Grubb Knight Frank’s Robert Griffin Jr., Edward Maher and Matthew Pullen represented Skanska in the transaction. The firm’s Bill Anderson and David Martel represented the company on the leases as well. This is Union Investment’s third recent acquisition in Boston. “After the acquisition of the Godfrey Hotel and the Converse Headquarters at Lovejoy Wharf, we …

April 12, 2016

Arizona Multifamily Western

3rd Ave Investments Buys Sonoma Terrace Apartments in Glendale for $15.3M

by Nellie Day April 11, 2016

GLENDALE, ARIZ. — 3rd Ave Investments has purchased the 260-unit Sonoma Terrace Apartments in Glendale for $15.3 million. The community is located at 5220 W. Northern Ave. It was built in 1979. Trevor Koskovich, Bill Hahn and Jeff Sherman, all with Colliers’ Phoenix office, represented both the buyer and seller, Mentor Properties, in this transaction.

April 11, 2016

Industrial Utah Western

ExtraSpace Signs 50-Year, 42,197 SF Lease at New Facility in Utah

by Nellie Day April 11, 2016

HOLLADAY, UTAH — ExtraSpace has leased 42,197 square feet of space at 5580 S. Van Winkle Expressway in Holladay. The lease is for 50 years. The space is under construction. When completed, it will be a double-deck, climate-controlled storage facility. ExtraSpace Storage is the second largest indoor storage company in the USA, with 1,350 locations. Chris Monson and Brett Palmer of Mountain West Commercial Real Estate represented the landlord in the transaction.

April 11, 2016

California Retail Western

illi Commercial Real Estate Brokers Three Leases in California Totaling 3,264 SF

by Nellie Day April 11, 2016

LOS ANGELES, NORTH HOLLYWOOD AND SANTA CLARITA, CALIF. — illi Commercial Real Estate has arranged three leases totaling 3,264 square feet. In Los Angeles, Wing Factory leased 1,234 square feet of space at 2454 W. Pico Blvd. Gregg Offsay and Dimas Rangel of illi Commercial arranged the leased. In North Hollywood, Kids & Teens Medical Group signed a lease for 1,440 square feet of space at 7544 Laurel Canyon Blvd. Mike Payne of illi represented the tenant, while Sunil Felician De Silva represented the undisclosed landlord in the transaction. In Santa Clarita, Farmers Insurance leased 590 square feet of space at 26256 Bouquet Canyon Road. Jonathan Daniels of illi represented the tenant, while Realty Executives Valencia represented the undisclosed landlord in the deal.

April 11, 2016

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