THE DEAL SHEET
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| Sales Transactions Friendwell Property Investment Co. purchased the 176k SF 265 Davidson Ave. in Franklin Township, NJ from KBS Realty Advisors for $9.1M. Cushman & Wakefield's David Bernhaut,Andrew Merin, and Gary Gabriel brokered the transaction.*** A private investor purchased 2000 Cornwall Rd. in Monmouth Junction, NJ from LNR Partners, a special servicer, for an undisclosed price. Newmark Knight Frank's Richard Madison,Richard Mirliss, Matthew Schnurr, and Jackie Chesler repped the seller. *** Cornerstone Real Estate Advisors purchased the 214-unit The Highlands at Westwood multi-housing community in Westwood, NJ from Prudential Real Estate Investors for an undisclosed price. HFF's Jose Cruz, Andrew Scandalios, Kevin O'Hearn, and Jeff Julien repped the seller. *** Grace Industries acquired the 17.5k SF 11 Commercial St., an office/flex building in Plainview, Long Island. Newmark Knight Frank's Scott Berfas, Chuck Tabone, and Dan Gazzola repped the seller, while the firm's Jack O'Connor repped the buyer. *** Marcus & Millichap sold four buildings: a 17.7k SF Pep Boys at 1941 Forest Ave. in Staten Island for $5.8M (broker: Scott Plasky); an 11-unit apartment building at 535 E. 87th St. for $2.8M in a 1031 transaction (brokers: Joe Koicim and Peter Von Der Ahe); a 13-unit apartment building at 33 Oakwood Ave. in White Plains for $1.2M(seller rep: Harry Delany; buyer rep: Marco Lala); and a mixed-use building at 141-143 E. 149th St. in the Bronx for $1.1M (brokers:Koicim, Von Der Ahe, and Scott Edelstein; additional buyer rep:Adelaide Polsinelli). *** Massey Knakal sold two buildings: a four-story brownstone at 198 W. 10th St. for $3.3M cash (broker: James Nelson; buyer: Black Diamond Capital); and a four-story mixed-use building at 1553 Second Ave. for $2.8M cash (seller rep: Thomas Gammino). Lease Transactions There's more to the Meadowlands than the stadium-the area just saw two leases totaling 90k SF. Danzian Fabrics signed a long-term,46.1k SF lease at 18 Central Blvd. in South Hackensack (tenant rep: Grubb & Ellis' John Donnelly; landlord rep: Cassidy Turley's Andrew Houston on behalf of Alfred Sanzari Enterprises); and Dora's Natural's renewal and expansion of its lease at 21-23 Empire Blvd. in South Hackensack to 42k SF (landlord: Alfred Sanzari Enterprises). *** Aaronson Rappaport Feinstein & Deutsch is moving to 600 Third Ave., where it signed a 15-year, 42.8k SF lease. Newmark Knight Frank's Mark Weiss and Robert Eisenberg repped the tenant, while David Berkey repped landlord L&L Properties in-house. And up the street, Radio One signed a 39k SF lease at 850 Third Ave., relocating from Hudson Square. Cushman & Wakefield's Shawna Menifee and Paul Glickman repped the tenant, while C&W's Matthew Astrachan, Mitch Konsker, Jonathan Tootel, and Robert Gallucci repped owner Shorenstein Properties. *** Lots of transactions sewn up in the Fashion District this week:
*** The Innocence Project signed a 20.3k SF lease at 40 Worth St., where it will move in the beginning of '11. Studley's John Mambrino and Nicholas Farmakis repped the tenant, while Newmark Knight Frank's Brian Steinwurtzel, Roy Lapidus, and Dan Segal repped the owner, a partnership led by Jeff Gural and Newmark Holdings. *** Nymox Corp. inked a 4.8k SF renewal at Heights Plaza, 777 Terrace Ave. in Hasbrouck Heights, NJ. The Garabaldi Group's Lee Barnes repped the tenant, while owner Alfred Sanzari Enterprises was represented in-house. *** It's game on for national video game retailer Play N Trade, which opened three new stores on Long Island: 1.6k SF each at 1056 E. Old Country Rd. in Plainview and 206 New Hyde Park Rd. in Franklin Square, and a 1.5k SF store at 910 Montauk Hwy. in Shirley. The retailer plans to open 35 more centers on Long Island over the next three years. CBRE's Jayson Siano advised the tenant. *** White Mountains Re Group inked a new 10-year, 4.1k SF lease at the Matrix Center, 29 Old Ridgebury Rd. in Danbury, Conn. CBRE's Robert Eber repped the tenant. *** A retail expansion that won't rub you the wrong way-Massage Envy continued its expansion on Long Island, opening its ninth relaxation clinic in 3k SF at The Southgate Shopping Center in Massapequa. CBRE's Jayson Siano repped the retailer, which plans to roll out another 10 to 15 clinics in the area. The center's owner is Kabro Associates. *** Furniture Rental Associates signed its own rental agreement, taking 1.9k SF at 149 Madison Ave. Coldwell Banker Commercial Hunter Phoenix's Sheldon Snyder and David Danick repped the tenant, while Danielle Nolen repped owner Abramson Brothers. *** �Ay Caramba! A Tex/Mex restaurant inked a 1.9k SF lease in a former Jamba Juice location in Hewlett, Long Island. Sholom & Zuckerbrot's Marc Geller and Doug Weinstein repped both the tenant and owner. *** It's certainly not a hairy deal-European Wax Center is making its Long Island debut at 4097 Jericho Turnpike in East Northport, taking 1.5k SF in a long-term transaction. CBRE's Jayson Siano repped the tenant, while CBRE's Gregg Carlin repped building owner LL East Hampton NY Enterprises. *** The Clothing Warehouse will dress 227 Mulberry St.'s retail space, taking a 1k SF lease. Optimal Space's Karen Spielberger repped the tenant, while Robert K. Futterman & Associates' Sal Ferrigno and Richard Gelber repped owner The Hakimian Org. *** Everything's roses for floral and event company Ovando, which leased 1k SF for its second retail store at 19 E. 65th St. in a long-term deal. Norman Bobrow and Co.'s Michael Nazarian repped the tenant, while Winick Realty Group's Hal Shapiro repped owner Madison Avenue Co. Financing Broad Street Advisors arranged a $30M secured revolving line of credit on behalf of American Realty Capital Trust, handled by the firm's Rob Rizzi. The facility has a two-year term, with an extension for an additional year. *** GCP Capital Group arranged $15M in financing, including $8.3M for three five-story walk-up apartment buildings on W. 147th St.(arranged by Adam Brostovski); a $3.5M acquisition loan for four four-story residential buildings on E. 82nd St. (arranged by Matthew Classi); and $3.2M for three separate apartment buildings on North Henry St., Beverly Rd., and MacDonough St. in Brooklyn (arranged by Brostovski). Business David Hale, previously of 50 State Building Advisors, launched ECI Enterprises, an advisory shop specializing in asset management and secondary market brokerage of distressed debt and properties. The company is based in Danbury, Conn. Executive Moves Jon Zuckerman joined Newmark Knight Frank as executive managing director, responsible for comprehensive services for corporate and institutional tenants and owners. He was previously with CBRE, and held positions at Compass Management & Leasing, JLL, and Olympia & York. He was also a practicing lawyer. He's a graduate of Columbia, St. John's, and American University. *** Robert Beni Jr. joined Meridian Capital Group as VP in its commercial originations group, responsible for supporting the underwriting and origination efforts. He was previously with Amboy Bank, Mezz Cap, Fillmore Financial Services, and Prudential Financial. *** Richard Hauer joined BDO Consulting as managing director of the NY office, concentrating on restructuring services and valuation and asset management advisory. Previously, he was president for the real estate unit of an international turnkey asset management, disposition, and appraisal company. He's a graduate of NYU. *** JLL promoted Ruby Hwang to SVP, focusing primarily on leasing and development transactions in the NY metro. She has nearly a decade of experience with JLL's large corporate clients, including supporting the team that provided transaction and development services for Vantone Industrial's China Center project in Manhattan. She's a Dartmouth graduate. *** Studley promoted Ian Zilla to corporate managing director. He joined the firm's corporate services group in '06, where he had expertise in occupancy scenario modeling and financial analysis, and was named "Rookie of the Year" in '08. He's a graduate of Columbia. |
