The Deal Sheet
|Sales Transactions In one of the largest NJ industrial investment sales of ’09, Cabot Properties purchased a 826k-SF fully leased portfolio, located at NJT Exit 8A, from TIAA-CREF. Cushman & Wakefield’s Andrew Merin, David Bernhaut, Gary Gabriel, Jose Cruz, Kevin O’Hearn,Frank Caccavo, Jason Goldman, and Andrew Siemsen orchestrated the deal. Tenants include Wicked Fashions, Staples, and Tyler Distribution Centers.***
ASH Realty Associates purchased the 55.4k-SF 50 E. Industrial Rd. in Branford, Conn. from Alliance Commercial Partners for $4.1M. CB Richard Ellis’ Elli Klapper, Pat Mulready, Tim Fegan, and John McCormick represented the seller and procured the buyer.
1642-1646 Pitkin Ave, Brooklyn, also known as 79-93 Bristol St, sold. The 43.2k-SF building includes 40 apartments, two retail tenants including a McDonald’s, and cell antennas. Highcap Group’s Christen Portelli represented both the seller and buyer, and the property sold for a cap rate slightly north of 8%.
Crystal Lake Holdings inked a 15-year, 37.5k-SF lease at The Brooklyn Army Terminal, 140 58th St. in Sunset Park. Twill Realty represented the tenant, while Lee Winter represented landlord NYC Economic Development Corp. in-house.
Alan Schatzberg & Associates signed a long-term, 7.2k-SF industrial lease at 45 Ruta Court in South Hackensack, NJ. NAI James E. Hanson’s Scott Perkins represented the tenant.
Siemens Enterprise Communications signed a five-year, 5.1k-SF lease at 545 Madison Ave. Newmark Knight Frank’s Derek Myers represented the tenant, while Jones Lang LaSalle’s Lisa Kiell, Frank Doyle, David Kleiner, and Andrew Flint represented owner LCOR.
Wendy’s inked a 10-year, 3.4k-SF lease at 291 Livingston St. in Brooklyn, opening last week. Pliskin Realty represented the tenant, while CPEX’s Timothy King, Eric Altschul, and Ryan Condren represented the landlord.
Vitality Pizza signed a 10-year, 1k-SF lease for the northeast corner of E. 31st St. and Third Ave. Working Realty’s Josh Prottas repped the landlord, Kips Bay Joint Venture. Asking rent was $168 PSF.
Deborah VanAmerongen, who is currently commissioner of the NYS Division of Housing and Community Renewal, is joining Nixon Peabody as strategic policy adviser, starting February 1. She will be based in the law firm’s NYC office, and will work closely with the attorneys in the firm’s affordable housing practice. Previous to serving as commissioner, she was director of multifamily housing for the U.S. Department of Housing and Urban Development’s NYC region. She is a graduate of Utica and Rockefeller Colleges.