LEXINGTON, MASS. — Fantini & Gorga has arranged $7 million in permanent financing for Countryside Manor Apartments in Lexington. Located at 425 Woburn St., the eight-building, 51-unit property offers a mix of two- and three-bedroom apartments and 83 off-street parking spaces. Casimir Groblewski and Despina Hatzipetrou of Fantini & Gorga secured the financing through a Midwest-based major insurance company for the borrower, Countryside Manor LLC.
Property Type
NEW YORK CITY — Marcus & Millichap has brokered the sale of 343 Sixth Avenue, an 8-unit apartment building located in Brooklyn’s Park Slope neighborhood. The property sold for $5 million, or approximately $490 per square foot. Derek Bestreich of Marcus & Millichap secured and represented the buyer in the off-market transaction.
EDISON, N.J. — The Goldstein Group has brokered a deal for Quaker Steak & Lube to open its second location in New Jersey. The fast-casual restaurant will occupy 7,500 square feet of space at Wick Shopping Plaza, located on Route 1 in Edison. Other tenants at the center include TJ Maxx, Pathmark, RadioShack, Mandee, AutoZone, Qdoba, Five Guys, Game Stop, Sally Beauty Supply and Planet Fitness. John Ostrowski and Chuck Lanyard of The Goldstein Group arranged the transaction.
NEW YORK CITY — Marcus & Millichap has brokered two separate sales in Brooklyn totaling $4.4 million. Private investors acquired 764 Metropolitan Avenue, a 2,500-square-foot land parcel in Brooklyn, for $2.2 million. In the second transaction, a different group of private investors purchased 69 Havemeyer Street, an 8-unit multifamily property in Brooklyn, for $2.2 million. James Saros, Michael Salvatico and Shaun Riney of Marcus & Millichap’s Brooklyn office represented the buyers and sellers in both transactions.
BOSTON — Integrated Interiors has completed an office installation for Gilbane Building Company’s new headquarters at 10 Channel Center in Boston’s Innovation District. The renovation includes 390 linear feet of prefabricated office and conference fronts for the new 22,000-square-foot space. The project team includes Gilbane as owner and construction manager, Gensler as architect, and Cosentini as M/E/P engineer. Additionally, Environments at Work provided furniture for the new space.
SAN ANTONIO — Uptown Square, a mixed-use redevelopment of a former church complex, has opened in San Antonio. Formerly Harvest Fellowship Community Church, the property includes a three-story, 36,004-square-foot office building and three retail pad sites. 1604 TC LP purchased the site in 2012 and redeveloped the asset with exterior building rock work; the addition of a pylon sign; landscaping, courtyard, parking and HVAC improvements; extension of the second floor; break room and common area amenities; and a detention pond that is currently under construction. Northrock Church purchased the adjacent 20,500-square-foot church building separately. Rialto Homes has leased 3,061 square feet of office space at Uptown Square, and gastropub The Hoppy Monk has leased one of the pad sites. The rest of the office building and the other two pad sites are available for lease. Scott Herbold, Carl Salvato and Lindsey Tucker of CBRE are marketing the property.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Golden Beach Marketplace, a 21,350-square-foot retail property in Fort Worth. Located at 10716 N. Beach St., near I-35 and State Highway 377, the strip shopping center was fully occupied at the time of the sale by tenants including Great Clips, Pizza Hut and Subway. An Albertsons grocery store shadow-anchors the facility. Jason Vitorino of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Jeff Smith, also of Marcus & Millichap, procured the buyer, an out-of-state personal trust completing a 1031 tax-deferred exchange. The buyer obtained a CMBS cross-collateralized loan with another retail center also acquired from the same seller. Michael Laurencelle of Marcus & Millichap arranged the financing.
IRVING, TEXAS — Bright Realty has brokered the sale of a 19,038-square-foot flex property in Irving. Located on a 1.5-acre lot at 1915 Westridge Drive, the property includes both office and showroom space. Shawn Hall of Bright Realty represented the buyer, Ibrahim Investments, in the transaction. David Cook of Sperry Van Ness represented the unnamed seller.
ARLINGTON, TEXAS — Bradford Commercial has arranged an industrial lease renewal and expansion totaling 34,132 square feet in Arlington. Pronto Delivery, a third-party distribution and logistics company, renewed its lease of 23,744 square feet at the warehouse located at 1034 Ave. M and also expanded by 10,388 square feet within the facility. The property, totaling 69,748 square feet in the Great Southwest Industrial District, is now fully occupied. Brendan Smith led the Bradford Commercial team representing the tenant in the negotiations. The landlord, Proterra Properties Inc., was represented internally by Chris Bly and Dan Lawson.
LONG BEACH, CALIF. – A creative flex/office building in Long Beach that formerly housed a division of Charter Communications has sold to Lotus Real Estate Partners for $6.1 million. The building is located at 4031 Via Oro. It was built in 1985 and will undergo a complete renovation. The property features 73,000 square feet of office space and 10,000 square feet of warehouse space. Lotus was represented by Clyde Stauff of Colliers. Charter Communications was represented by DTZ’s Scott Becket.