Property Type

Meridian Capital Group Arranges $22.5M in Acquisition Financing for Brooklyn Office Condo

by Amy Works January 29, 2015

NEW YORK CITY — Meridian Capital Group has negotiated a $22.5 million loan for the acquisition of an office condominium in Brooklyn. The three-year, interest-only loan, which was provided by a regional balance sheet lender, features a floating rate and two one-year extension options. The loan is for the acquisition of the top four floor, totaling 76,500 square feet, of Montague Pavilion Condominium. Built in 1960, the 14-story office building is located at 195 Montague St. in Brooklyn. Tal Bar-Or of Meridian’s New York City headquarters brokered the acquisition loan on behalf of the sponsor.

January 29, 2015

New Jersey Northeast Office

Marcus & Millichap Brokers $3.9M Sale of New Jersey Office Building

by Amy Works January 29, 2015

RIDGEWOOD, N.J. — Marcus & Millichap has brokered the sale The Lincoln Building, an office property at 45 N. Broad St. in Ridgewood. The 24,000-square-foot multi-tenant property sold for $3.9 million. David Thurston of Marcus & Millichap’s New Jersey office represented the seller, a partnership, and secured the buyer, a local limited liability company, in the transaction. Additionally, Bruce Whitaker of Ramsey, N.J.-based McDonnel Whitaker served as legal counsel for the seller, while Michael Ochs of Hasbrouck Heights, N.J.-based Bertone Piccini provided legal representation for the buyer.

January 29, 2015

Connecticut Industrial Northeast

Sequel Special Products Buys Industrial Facility for $2.4M in Connecticut

by Amy Works January 29, 2015

WOLCOTT, CONN. — Sequel Special Products has acquired an industrial facility located at 1 Hillside Dr. in Wolcott. Silversword Property LLC sold the 37,000-square-foot property for $2.4 million. The medical device manufacturing company will relocate operations from 122 Avenue of Industry in Waterbury, Conn. The former tenant, Alden Manufacturing, is relocating to its sister facility in Wolcott. Gerry Matthews of Matthews Commercial Properties was the sole broker in the deal.

January 29, 2015

New York Northeast Office

Avison Young Completes 9,310 SF Office Lease in Manhattan

by Amy Works January 29, 2015

NEW YORK CITY — Avison Young has brokered a 10-year lease for Trolman, Glaser & Lichtman P.C. at 747 Third Ave. in Manhattan. The law firm will occupy the entire 23rd floor, totaling 9,310 square feet, of the Class A office building. The law firm is currently located at 777 Third Ave. and is expected to relocate in second quarter 2015. Michael Gottlieb, Anthony Lopresti and Jason Meister of Avison Young represented the tenant, while Michael Lenchner of Sage Realty Corp. provided in-house representation for the landlord, William Kaufman Organization.

January 29, 2015

District of Columbia Office Southeast

Fannie Mae Signs 700,000 SF Lease for New D.C. Headquarters

by John Nelson January 29, 2015

WASHINGTON, D.C. — Fried, Frank, Harris, Shriver & Jacobson LLP represented an affiliate of Carr Properties as landlord in a 700,000-square-foot lease of a building to be constructed for Fannie Mae’s new headquarters at 15th and L streets in Washington D.C. The new build-to-suit property will replace The Washington Post’s current headquarters. The lease is the largest ever non-government lease in Washington, D.C. The Fried Frank team was led by real estate partner Franz Rassman and included real estate associates Valerie Kelly, Neil Hood and Matthew Greeson.

January 29, 2015

Multifamily North Carolina Southeast Student Housing

NorthState Buys Three Student Housing Properties Near Appalachian State University

by John Nelson January 29, 2015

BOONE, N.C. — NorthState Capital Partners has led an investment group in the acquisition of a three-property student housing portfolio near Appalachian State University in Boone. The properties include the 204-bed Highland Crossing, the 84-bed Greenway Commons and the 48-bed Greenway Cove. Combined, the apartment properties are 96 percent occupied. The AppalCart, the primary local public transportation system, has bus stops directly in front of the properties.

January 29, 2015

Florida Multifamily Southeast

Marcus & Millichap Brokers $14.9M Sale of Multifamily Portfolio in South Beach

by John Nelson January 29, 2015

MIAMI BEACH, FLA. — Marcus & Millichap has brokered the $14.9 million sale of Lincoln Palms, a portfolio of five multifamily parcels totaling 66 units located off Lincoln Road in Miami Beach. The community comprises 35 studios, 28 one-bedroom apartments, two two-bedroom apartments and one four-bedroom townhouse. Apartment units feature ceramic tile and solid oak wood flooring, wall air-conditioning units and walk-in closets. Some units feature private patios or balconies. All five buildings have a connected courtyard with sitting areas and bicycle racks for residents. Arthur Porosoff of Marcus & Millichap’s Miami office represented the seller, a private investor from New York. Joseph Thomas and Frank Fausone of the firm’s Fort Lauderdale office secured the buyer, a private investor from Miami.

January 29, 2015

Cornerstone Square Shopping Center Macclenny

Florida Loans Retail Southeast

Integra Arranges $4M Loan for Shopping Center in Florida

by John Nelson January 29, 2015

MACCLENNY, FLA. — Integra Real Estate Capital, a commercial mortgage brokerage and advisory firm based in New York City, has secured a $4 million loan for the refinance of Cornerstone Square Shopping Center, a 111,681-square-foot property located in Macclenny. The center is anchored by Tractor Supply, Peebles, Dollar Tree, CATO and Hibbett Sporting Goods. Russell Kimyagarov of Integra arranged the non-recourse, 10-year loan on behalf of the borrower, a California-based ownership group.

January 29, 2015

Georgia Industrial Southeast

CenterPoint Completes Container Yard for KW International in Savannah

by John Nelson January 29, 2015

SAVANNAH, GA. — CenterPoint Properties has completed a 3.1-acre container yard for KW International, an international third-party logistics provider, at CenterPoint Intermodal Center–Savannah. John Neely and Danny Chase of Colliers International represented CenterPoint and KW International, respectively, in the lease transaction. KW International’s new facility is located four miles from the Georgia Ports Authority, adjacent to Highway 307 and within minutes of I-95 and I-16. Facility features include a 900-square-foot office, 105 trailer parking stalls and 12 car-parking stalls. KW International began operations at the build-to-suit property on Jan. 1.

January 29, 2015

Office Texas

CBRE Arranges Sale of Infill Office Building in Austin

by Haisten Willis January 28, 2015

AUSTIN, TEXAS — CBRE Capital Markets’ investment properties has arranged the sale of a 9,522-square-foot office building at 3108 N. Lamar Blvd. in Austin. A local investment firm purchased the asset from an Austin-based partnership for an undisclosed price. The property is 85 percent occupied and is located near Seton Medical Center and The Heart Hospital of Austin. The main tenant, gift card e-commerce provider QuickGifts Inc., occupies 4,347 square feet. In 2012, the building received several renovations, including new paint on the exterior and common areas, new common area flooring and new interior signage. Walter Saad, Cathy Nabours and Logan Reichle of CBRE represented the seller in the transaction. Andrew Perkel of Retail Solutions represented the buyer.

January 28, 2015

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