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Sela Realty Acquires 178-Unit Apartment Community in West Orange, N.J., for $40.5M

WEST ORANGE, N.J. — Sela Realty Investments has purchased Crest Ridge Apartments, a garden-style apartment community located at 200 Mt. Pleasant Ave. in West Orange. Rockledge Realty sold the property for $40.5 million. Built in 1964, the 16-building property features 178 one-, two- and three-bedroom units. On-site amenities include laundry facilities, parking, a swimming pool, a clubhouse and a sundeck. Greg Pine and Adam Zweibel of Gebroe-Hammer Associates represented the seller and..

August 18, 2017

University Student Living Opens Community Near the Rochester Institute of Technology

HENRIETTA, N.Y. — University Student Living LLC has opened The Lodge, a student housing community located near the Rochester Institute of Technology in Henrietta, New York. The community offers 37 individual cottage homes and 37 townhouses along the Genesee River. The property features sidewalks; on-street parking; over 2.5 miles of walking trails; a 6,500-square-foot clubhouse; pool deck; study lounges; a business center; social areas with billiards, ping pong and media screens; outdoor..

August 18, 2017

Claremont Cos. Receives $17.6M in Refinancing for Seniors Housing Community in Massachusetts

SOUTH DARTMOUTH, MASS. — Claremont Cos. has received $17.6 million in affordable housing financing from MassHousing for the refinancing of Solemar at South Dartmouth. The refinancing of the mixed-income seniors housing community preserves the affordability of the property’s 100 affordable units through 2034. Claremont Cos. refinanced the property through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with lender partner Rockport Mortgage Corp...

August 18, 2017

Walmart Supercenter Opens as Anchor Tenant at Oak Tree Plaza in Egg Harbor Township, New Jersey

EGG HARBOR TOWNSHIP, N.J. — Wolfson Group has announced that Walmart Supercenter has opened as the anchor tenant at Oak Tree Plaza in Egg Harbor Township. The retailer occupies approximately 188,463 square feet at the shopping center. Adjacent to Walmart, approximately 35,200 square feet of retail space is under construction for Petco, Planet Fitness and KicksUSA. Smaller store space for Starbucks Coffee, Sally Beauty Supply, T-Mobile, Coco Nails and Chick-fil-A is in the construction phase...

August 18, 2017

Colliers Facilitates $2.2M Sale of Development Site in Philadelphia

PHILADELPHIA — Colliers International has arranged the sale of a development site located at 201-11 E. Allen St. in the Northern Liberties neighborhood of Philadelphia. A private investment group acquired the site from Exceptional Foods for $2.2 million. The buyer plans to redevelop the property into residential units. The site consists of a 15,300-square-foot industrial property and 17,350 square feet of land. Michael Barmash and Richard Gorodesky of Colliers were the sole brokers in the..

August 18, 2017

Lena New Boston Continues $200M Residential Redevelopment in Boston

BOSTON — Lena New Boston, a partnership between New Boston Fund and Lena Park Community Development Corp., is continuing its $200 million redevelopment of the former Boston State Hospital site with 41 additional two- and three-bedroom units of mixed-income townhomes at Olmstead Green, the first workforce housing/homeowners project in Boston funded by MassHousing’s Opportunity Fund, the Department of Neighborhood Development and the Neighborhood Housing Trust. The project’s overall master..

August 17, 2017

Meridian Design Build Completes 248,370 SF Distribution Center in Montgomery, New York

MONTGOMERY, N.Y. — Meridian Design Build has completed the construction of a package sortation and distribution center located at 201 Neelytown Road in Montgomery for developer SunCap Property Group. Situated on 44.1 acres, the 248,370-square-foot facility was built for a leading provider of global shipping and information services. The facility features 63 loading docks, seven drive-in doors, 184 interior van loading positions, 451 auto parking stalls and 190 exterior trailer stalls...

August 17, 2017

Kamber Management Co. to Acquire Parking Garage Portfolio in Manhattan for $50M

NEW YORK CITY — Kamber Management Co. has entered into a contract to acquire the Riverside Garage portfolio of parking facilities on Manhattan’s Upper West Side for an $50 million. The 916-parking stall portfolio consists of three parking garages located at the base of five residential towers located at 80, 100-120 and 220-240 Riverside Blvd. The properties are fully leased to Icon Parking Systems, a garage operator in New York City. David Schechtman of Meridian Capital Group represented..

August 17, 2017

CBRE Arranges Sale of Shopping Center in North Wales, Pennsylvania

NORTH WALES, PA. — CBRE has brokered the sale of The Shoppes at English Village, a lifestyle center located at 1460 Bethlehem Pike in North Wales. MetLife Real Estate acquired the 103,188-square-foot property from Stanbery Development for an undisclosed price. Trader Joe’s, CorePower Yoga, CycleBar, Turning Point, Anthony Vince Nail Spa, Scout & Molly’s, Sephora and J. Crew Mercantile are tenants at the property. Brad Nathanson and John Colussi of CBRE represented the seller and procured..

August 17, 2017

Atlantic Management Sells Retail Center in Acton, Massachusetts, for $16.3M

ACTON, MASS. — Atlantic Management has completed the disposition of Powder Mill Plaza, a retail property located in Acton. Medipower acquired the shopping center for $16.3 million. Stop & Shop, Rite Aid, Anytime Fitness, DCU, Papa Gino’s and Dunkin’ Donuts, among other national retailers, occupy the 74,876-square-foot property. Geoffrey Millerd, Justin Smith, Paul Penman and Christopher Peterson of Newmark Knight Frank represented the seller in the deal.

August 17, 2017