Marcus & Millichap announced the following sales: The 50,795 s/f grocery-anchored center situated on Route 1 is 95 percent leased and anchored by Balducci’s grocer, and Ulta, who is currently building out their space and expected to open in March. The team was also responsible for procuring the purchaser. Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented CapFor Westport, LLC, in the sale of 1365 Post Road East (Route 1) in Westport, Connecticut. The warehouse and distribution facility is 100 percent leased to Midwest Air Technologies, Inc. ceiling heights, 40 dock doors, six drive-in doors and an expansive paved parking area. Built in 1978, this industrial facility features 24 ft. CBRE executive vice president Thomas Monahan assisted with the sale. Morgan Asset Management, during negotiations. Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki of CBRE National Partners represented the sellers, Cohen Asset Management, Inc. The property was acquired by Liberty Property Trust for an undisclosed amount. A 369,313 S/F industrial facility located at One Truman Drive South in Edison, New Jersey.The property is located within walking distance of the B and Q trains, and offers access to numerous national and local retailers. With its location near the Brighton Beach Avenue and Ocean Parkway commercial corridors, the property is situated in a residential locale that has seen an influx of residents in recent years.
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The asset is an assemblage of four properties, plus additional air rights, that would allow for the construction of 25,572 s/f of space. The property is being marketed by Erik Yankelovich and Yisroel Pershin, with pricing targeted at $4.425 million. GFI Realty Services has been named the exclusive sales agent for a development site on Brighton 4th Street in the Brooklyn’s Brighton Beach neighborhood. R6/C1-3 zoning allows investors to convert a portion of the office space to residential units. Over the past year the building has undergone approximately $600,000 in capital improvements, including significant upgrades to the windows.
The top two floors, which encompass 6,400 s/f are occupied by the Chinese-American Planning Council, a non-profit whose lease expires on December 31, 2018. Kelly Esq., and David Khukhashvili are representing the owner.
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The ground level, which has a 4,000 s/f retail unit, also features a full basement with two bathrooms, one storeroom, one finished room, and one bank vault. The first three floors, which extend 12,800 s/f, are occupied by the owner of the property, First American International Bank. Spanning 19,200 S/F, this elevatored office building is located on the southeast corner of 8th Avenue and 41st Street. The asking price for the 5-story property is $8.5 million. Ariel Property Advisors has been exclusively retained to sell 4101 8th Avenue, a commercial building at the center of Brooklyn’s Sunset Park neighborhood.
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