BABYLON, N.Y. — SVN | Realty Three Advisors has negotiated the $2.3 million purchase of the People’s United Bank Building located at 375 Deer Park Ave. in Babylon. An unnamed buyer purchased the net leased retail and office building from 375 Deer Park Avenue LLC. Patricia Posillico of Sperry Van Ness | Realty Three Advisors represented the buyer. Sabre Real Estate Group represented the seller.
SOUTH BRUNSWICK, N.J. – CBRE has arranged 450,000 square feet of leases at 301 Middlesex Center Blvd., a Class A industrial building in South Brunswick — bringing the newly constructed, speculative facility to full occupancy The transactions include a 250,000-square-foot lease with CDS Logistics and a 200,000-square-foot lease with Best Logistics. CBRE’s Steven Beyda, Mindy Lissner and Scott Belfer arranged the transaction on behalf of landlord IDI Gazeley, an industrial real estate developer. Beyda, Kevin Dudley and William Waxman of CBRE represented Best Logistics. Joe Nitti of Cresa represented CDS. Located near the New Jersey Turnpike, 301 Middlesex includes 36-foot ceiling heights, ESFR sprinkler systems and cross-docked loading.
WILMINGTON, DEL. — Grandbridge Real Estate Capital has arranged a $44.5 million first mortgage loan secured by an eight-property, 4,400-unit self-storage portfolio in Wilmington. Michael Balan of Grandbridge originated the refinancing transaction for Storage Rentals of America. The fixed-rate loan was funded through BB&T Real Estate Funding and features a 10-year term and 25-year amortization schedule.
JERSEY CITY, N.J. — Gebroe-Hammer Associates has arranged the $7.8 million sale of a multifamily property in Jersey City. Nicholas Nicolaou represented the seller, an independent real estate investment firm, and identified the buyer in the sale of the 72-unit portfolio. Comprising three separate buildings located at 158 Bergen Ave. (25 units), 162 Bergen Ave. (26 units) and 232 Bidwell Ave. (21 units), the portfolio is situated within the Greenville neighborhood at the southernmost point of Jersey City. The per-unit price of the sale was $107,600. The properties are located near light rail services and bus routes along with high-traffic roads including I-78, I-287 and the New Jersey Turnpike.
HAMDEN, CONN. — HLKT 655 Fitch LLC has acquired Willow Woods, a two-building multifamily complex containing 52 units at 655 Fitch St. and 42 Warner St. in Hamden, for $4.2 million. The property, which is contiguous to Southern Connecticut State University, consists of 45 two-bedroom units and seven one-bedroom units on 1.5 acres. Stephen Press of Press/Cuozzo Commercial Services and David Gorbach of Colonial Realty represented the seller, LMJ Properties, and procured the buyer.
KEENE, N.H. — The Wilder Cos. has taken on the leasing and management of Fairbanks Plaza in Keene. Effective April 1, the contract was awarded by the center’s owner, Unison Realty Partners of Boston. Fairbanks Plaza is a 143,000-square-foot open-air center with tenants including Kohl’s, Aldi and Walgreens. The property is the fourth Unison Realty Partners center managed by Wilder.
FORT MYERS, FLA. — Marcus & Millichap has arranged the $11.4 million sale of Candlewood Suites Fort Myers-Sanibel Gateway, a 120-room hotel located at 9740 Commerce Center Court in Fort Myers. Built in 2009, the hotel is situated near several beaches including Fort Myers Beach, Sanibel and Captiva. AD1 Global purchased the asset from an undisclosed private investment group. Jonathan Ruprai and Krone Weidler of Marcus & Millichap’s Tampa office represented the seller in the transaction and procured the buyer. Noam Kaminetzky of Meridian Capital Group arranged a $9.5 million, three-year acquisition loan on behalf of AD1 Global.
DUNWOODY, GA. — CBRE has arranged the sale of Aspire Dunwoody, a more than 500-unit multifamily community located at 7150 Peachtree Dunwoody Road in Dunwoody, part of Atlanta’s Central Perimeter submarket. Affiliates of Harbor Group International purchased the asset from Lincoln Property Co. for an undisclosed amount. Prior to the sale, Lincoln invested $6.3 million to renovate Aspire Dunwoody’s interior units and community amenities. Kevin Geiger, Malcolm McComb, Paul Berry and Shea Campbell of CBRE’s Southeast Multifamily Group represented the seller in the transaction.
WOOSTER, OHIO — Minnesota Ltd. has signed a 9,384-square-foot industrial lease in Wooster, about 35 miles southwest of Akron. The 7.4-acre property is located at 460 W. Henry St. Minnesota Ltd. is the contractor for Kinder Morgan Utopia Pipeline. This is one of several Minnesota Ltd. facilities and laydown yards throughout the area, supporting the 215-mile pipeline of natural gas. Bryce Custer of NAI Spring represented all parties in the lease transaction.
ALPHARETTA, GA. — Lincoln Property Co. Southeast has arranged the sale of a four-story, 106,561-square-foot office building located within Brookside Office Park at 3925 Brookside Parkway in Alpharetta. The property is situated near Ga. 400 via Old Milton Parkway. Built in 1998, the asset is currently leased to NCR Corp., an Atlanta-based financial technology firm, through the end of the year. Cousins Properties is currently developing a new office campus in Midtown Atlanta for NCR. Hunter Henritze of Lincoln Property Co. Southeast represented the seller, Equity Office, in the transaction. Jay Dowlen and Charles Beard of CBRE represented the buyer, AmTrust Group, which has retained Lincoln Property Co. Southeast to manage the office building. The sales price was not disclosed.
