Summit Associates acquires 42 acres of undeveloped land

Summit Associates, Inc., with financing provided by an investment client of BlackRock, has acquired a prime 42-acre undeveloped parcel formerly owned by Coca Cola Enterprises at 429 Delancy St. This information came from international commercial real estate services firm Studley. The new owner plans to develop up to 810,000 s/f of, rail-served industrial space for either a single user or multiple tenants. Studley, which represented Coca Cola Enterprises in the sale, has been retained to market the new project, Nexus Port East, scheduled to break ground in 2008. 429 Delancy St. is located within an Urban Enterprise Zone and is adjacent to Port Newark, Elizabeth Marine Terminal and Newark Liberty International Airport. It offers frontage along the New Jersey Turnpike at exit 14 and on U.S. Rtes. 1 and 9.

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Marcus & Millichap facilitates $17.5 million sale of experiential retail property in Brooklyn

Brooklyn, NY Marcus & Millichap negoatied the sale of 321 Starr St., a fully leased, 10-unit retail property in the Bushwick neighborhood, for $17.5 million.

Marcus & Millichap brokers sale and arranges financing for 40-unit multifamily property

Koeppel Rosen negotiates 8,569 s/f lease for Frostbyte Tech. at 151 West 26th St.

Dance Studio extends 5,000 s/f lease at Koeppel Rosen’s 37 W. 37th St.

GFP Real Estate leases 18,849 s/f to five tenants at 515 Madison Ave.

GFP leases 18,849 s/f to five tenants at 515 Madison Ave.

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