BOSTON — General Growth Properties has sold the Faneuil Hall Marketplace, located at 4 S. Market Building, Fifth Floor in Boston, for $140 million. The 208,000-square-foot retail development includes 104 staple restaurants, shops, exhibits and cafes.
NEW YORK CITY — White Plains, N.Y.-based Q10 New York, an affiliate of Houlihan Parnes Realtors, has arranged $50 million in first mortgage financing for the 250,000-square-foot Two Fordham Square, a mixed-use property located at 2501 Grand Concourse in the Bronx neighborhood of New York City. Jeanne Cronin, Mike O'Neill, Jerry Houlihan and Kelly Houlihan of Houlihan Parnes and Q10NY arranged the loan with a 7-year term and a 30-year amortization schedule through a major New York bank on behalf of the borrower, a partnership between partners of Houlihan Parnes Realtors and members of the Jemal family.
WEST ORANGE, N.J. — Cedar Knolls, N.J.-based Newmark Associates Commercial Real Estate Brokerage facilitated the $10.4 million sale of the 38,000-square-foot 475 Prospect Ave., a medical office building in West Orange. The property is currently 60 percent leased to tenants such as the Essex Specialized Surgical Institute, Omni Eyecare and Reproductive Medical Associates of New Jersey. Judith Tell Feldman of Newmark represented the seller, Prism Capital Partners, and the buyer in the transaction.
LANCASTER, PA. — Bird-In-Hand, Pa.-based B&B Structures has purchased a 29,000-square-foot industrial property, located at 2200 Hathaway Rd. in Lancaster, for $900,000. Gerry Blinebury and Leah Balerno of Cushman & Wakefield's Philadelphia office represented the seller, while Scott Bradbury of U.S. Commercial Realty represented the buyer.
SHAWNEE, OKLA. AND LAKE JACKSON — Northbrook, Ill.-based StreetMac Asset Managers has acquired the Brazos Mall in Lake Jackson and the Shawnee Mall in Shawnee, Okla., hrough a joint venture with Stamford, Conn.-based Five Mile Capital Partners. Brazos Mall spans 682,831 square feet and houses Dillard's, JC Penney, Sears, Starplex Cinema, Ross, Palais Royal and Powerhouse Gym. Shawnee Mall spans 453,861 square feet and includes Dillard's, JC Penney, Kohl's and Sears. The seller was Lightstone Properties. Chicago-based Urban Retail Properties will serve as property manager and leasing agent for both malls.
GARLAND — Evercare Pharmacy, an affiliate of Health Mart, has opened a 1,050-square-foot location at Village Plaza, located at the corner of West Walnut Street and North Jupiter Road in Garland. Brixmor Property Group owns Village Plaza.
MARINA DEL REY, CALIF. — C3 Jian has leased 34,544 square feet of office flex space inside a 60,500-square-foot life science building at 4503 Glencoe Ave. in Marina del Rey. The company plans to use the space, which was previously occupied by Abraxis, for biomedical research and production. The 10-year lease is valued at more than $10 million. C3 Jian was represented by Mathew Miller of CRESA Partners. The building’s owner, Hankey Investment Company, was represented by Jones Lang LaSalle’s Chris Strickfaden and Scott Dobbins, who worked in-house on behalf of Hankey.
CHINO, CALIF. – A 78,021-square-foot industrial building in Chino has been sold to Yama Seiki for $4.2 million. This is the second time this property has been sold by Richard Schwartz and Brad Yates of Colliers’ Inland Empire office in 2011 alone. The milling machine manufacturer plans to use it as its U.S. headquarters. Yama Seiki was represented by Eddie Lee of Ashwill Associates. Schwartz and Yates represented the seller, Shield Packaging.
SUPERIOR, COLO. – The Superior Marketplace is set to receive two new tenants. Sears Home Appliance will occupy 5,267 square feet, while Weight Watchers will lease 1,325 square feet. Sears was represented by Mike Quinlan of Newmark Knight. Weight Watchers was represented by Lisa Vela of Colliers’ Denver office. Superior’s owner, Brixmor Property Group, was represented in-house by Paul Sheppard.
BOSTON — General Growth Properties has sold the Faneuil Hall Marketplace, located at 4 S. Market Building, Fifth Floor in Boston, for $140 million. The 208,000-square-foot retail development includes 104 staple restaurants, shops, exhibits and cafes.