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THE DEAL SHEET

Sales Transactions

Roseland, NJ's 128k-SF 425 Eagle Rock Ave. was sold by an undisclosed owner to a private investor for $17.5B. CB Richard Ellis'Jeffrey Dunne, Kevin Welsh, and Christopher Leonard represented the seller, while MRH Real Estate Services' Glenn Dulmage represented the buyer.

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Jeffrey Dunne and Kevin Welsh also represented Siemens Shared Services and procured buyer Hampshire Global Partners in the sale of the 98k-SF, 19-acre 186 Wood Ave. South in Iselin, NJ's Metropark. The sale price not disclosed. The buyer plans to redevelop and upgrade the four-story office building and develop the balance of the site over time.

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Massey Knakal sold the six-story, 119-unit 333 Ovington Ave. apartment building in Bay Ridge, Brooklyn for $11.2M cash, representing the largest '09 transaction in the borough to date. The firm's Landon McGaw and Stephen Palmese represented the seller, and was assisted by the legal counsel of Graubard Miller's Peter Schwartz and Lester Henner.

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Marcus & Millichap's Marco Lala, Dave Raciti, and Jack Lala, represented the sellers and buyers in the sales of three Bronx multifamily properties for $6M: the 30.3k-SF, 36-unit 250 McLean Ave. for $3.5M; the 20.9k-SF, 25-unit 2307 Beaumont Ave. for $1.6M; and the 34.2k-SF lot at 245 East Mosholu Pkwy. North to Promesa Systems for $1M.

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Electronics Expo purchased the 88k-SF corporate HQ at 70 Demarest Drive in Wayne, NJ from Wachovia Bank for an undisclosed price. SBWE represented the buyer, while Colliers Houston's Howard Weinberg represented the seller.

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Massey Knakal sold a 5.5k-SF corner retail strip at 968-976 Fulton St. in Farmingdale, LI, for $800k cash. The property includes five retail stores and 20 parking spaces. Lev Kimyagarov was the exclusive broker in the transaction.

Lease Transactions

Accounting firm Marcum & Kliegman inked a 10-year, 67k-SF lease at 750 Third Ave., making it the largest Midtown tenant relocation lease in '09 so far. Newmark Knight Frank's Neal Golden, Ross Perlman, and Lee Brodsky represented the tenant, while David Kaufman represented owner SL Green in-house. The legal representation included Paul Hastings' Noah Shapiro and Goldfarb & Fleece's Spenser Stein. SL Green will construct a turn-key installation, building out the entire 11th and 12th floors for the tenant.

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Architectural lighting company Amerlux signed a 48k-SF industrial renewal at 19-21 Daniel Rd. in Fairfield, NJ. Cushman & Wakefield's New Jersey office represented the tenant, while Colliers Houston's Howard Weinberg and Matt Turse represented owner Pan Realty.

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John V. Lindsay Wildcat Charter School signed a 12-year, 28.8k-SF renewal at The BankNote building at 890 Garrison Ave. in the Bronx. CB Richard Ellis' Richard Levine represented the tenant; the owners are Taconic Investment Partners and Denham Wolf. The deal's terms were not disclosed, although the asking price was in the mid-$20s PSF.

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Global shipping classification firm ABS leased the entire 42nd floor at 60 E. 42nd St., for a total of 13k SF. It's relocating from Paramus, NJ, where it was based after 9/11; ABS was previously on the 91st floor of the World Trade Center's North Tower. Newmark Knight Frank's Robin Fisher and Frank Recine represented the tenant, while Newmark's Billy Cohen, Ryan Kass, and Jonathan Fanuzzi represented owner W&H Properties.

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130 E. 59th St saw two financial service firms leases. RRE Ventures took 8.6k SF for 10 years, while an undisclosed firm took 3.7k SF for five years. Newmark Knight Frank's Brian Waterman, Jonathan Fanuzzi, Brandl Frey, and Brent Ozarowski represented owner UJA-Federation of New York. Cushman & Wakefield's Jared Horowitz represented RRE and C&W's David West represented the undisclosed firm.

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AT&T Mobility signed a 10-year, 2k-SF retail lease at 254 Canal St. Winick Realty Group's Steve n Baker represented the tenant, while Cushman & Wakefield Retail Services' Michael O'Neill represented owner 254 Associates LLC.

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Import/export and investment company Lee World signed a 1k-SF lease at 250 W. 57th St. Sierra Realty Corp.'s Jeffrey Anderson represented the tenant, while Cushman & Wakefield's George Fabian represented owner W&H Properties.

ALSO AROUND NEW YORK...

Exec Moves

The 14-person team of Scott Panzer, Deborah van der Heyden,Robert Romano, David Kaplansky, Steve n Rotter, Sean Black,Lisa Campofranco, Meredith Marash, Shannon Rzeznikiewicz,Kenia Fuertes, Brad Lane, Oliver Lloyd, Devorah Lebovic, and Neela Rastogi joined Jones Lang LaSalle. They were previously with Newmark Knight Frank, specializing in leasing.

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Ori Foger rejoined American Land Services as VP of marketing & sales, responsible for coordinating and planning the firm's networking and business development events. Previously, he was with KV National Land.

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Christopher Hooke joined the Community Preservation Corp. as director of Freddie Mac and Fannie Mae sales, originating loans with the companies. He was previously with RBS Citizens Bank's commercial real estate lending group, and also spent more than a decade at Freddie Mac, responsible for loan production reaching an annual level of $1.5B.

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson
Marriott International
Oliver Carr, III
Carr Properties
Bryant Foulger
Foulger-Pratt