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Cushman & Wakefield Brokers $76.1M Sale of Capital Logistics Center in Middletown, Pennsylvania

MIDDLETOWN, PA. — Cushman & Wakefield has brokered the $76.1 million sale of Capital Logistics Center in Middletown. An affiliated entity of Dermody Properties purchased the five-building industrial portfolio from a joint venture partnership of Woodmont Industrial Partners and AEW Capital Management. Cushman & Wakefield’s Gerry Blinebury and Gary Gabriel represented the seller. The buyer was represented in-house. Capital Logistics Center totals 1.3 million square feet and is 74..

June 2, 2017

Marcus & Millichap Arranges $20.5M Sale of Multifamily Properties in NYC

NEW YORK CITY — Marcus & Millichap has arranged the $20.5 million sale of 30-58 34th St. and 30-64 34th St., a pair of five-story apartment buildings totaling 70 units in the Astoria neighborhood of Queens. The sales price equates to almost $293,000 per unit. Peter Von Der Ahe, Joe Koicim, Shaun Riney, Noah Kossoff and Dylan Walsh of Marcus & Millichap represented the seller, Takis Tsagronis, and procured the buyer, Urban American. Located near the 30th Avenue subway station, the..

June 2, 2017

First Tenants Open at Hanover Crossroads in Cedar Knolls, New Jersey

CEDAR KNOLLS, N.J. — AutoZone, QuickChek and MedExpress Urgent Care have become the first tenants to open at Hanover Crossroads, an under-construction shopping center in Cedar Knolls. Additional tenants soon to open include T.J.Maxx, HomeGoods, Five Below and ULTA Beauty. Key Properties is the developer for the 107,000-square-foot project, which is now nearly 80 percent leased. Located at 110 East Hanover Ave., Hanover Crossroads is located on the former site of Berlex Laboratories. The..

June 2, 2017

Blackstone Mortgage Trust Provides $135M Financing for Lab Facility Near Boston

WALTHAM, MASS. — Blackstone Mortgage Trust has provided $135 million in financing for 830 and 828 Winter St., an existing lab building and a planned lab facility in the Boston suburb of Waltham. HFF worked on behalf of the borrower, King Street Properties, in securing the financing through Blackstone. Loan proceeds will be used to refinance 830 Winter St., which spans 185,000 square feet, and to construct 828 Winter St. Completed in 2001, 828 Winter St. is home to tenants including Praecis..

June 1, 2017

Zoning Approved for Mixed-Use Development in Metro Philadelphia

CONSHOHOCKEN, PA. — Keystone Property Group has received zoning approvals for the development of SORA West a transit-oriented mixed-use development in the Philadelphia suburb of Conshohocken. Upon completion, SORA West will include a central plaza surrounded by a 250,000-square-foot office building, retail and dining space, a 171-key hotel, the existing Conshohocken Firehouse and a 950-space parking structure. The project will be located adjacent to the Conshohocken SEPTA train station, near..

June 1, 2017

Sims Secures $98M Financing for Senior Housing Facility in Lancaster, Pennsylvania

LANCASTER, PA. — HJ Sims has secured $98 million in financing for Brethren Village, a continuing care retirement community in Lancaster. In 2016, Brethren hired Sims to serve as senior managing underwriter for the proposed refinancing of 2008 bonds on the facility. Sims worked with Brethren Village’s independent municipal advisor to pair the refinance with financing to develop an independent living expansion project known as Northside Court. The financing consists of fixed-rate refunding..

June 1, 2017

OMA to Design Mixed-Use Project in Boston’s Seaport District

BOSTON — WS Development has hired architecture firm OMA to design a mixed-use project located at 88 Seaport Blvd. in Boston. The project, located in Boston’s Seaport District, is OMA’s first commission in the city of Boston. OMA’s Shohei Shigematsu will lead the design efforts at 88 Seaport, which upon completion will include nearly 425,000 square feet of office space, 60,000 square feet of retail on the first two floors and 5,000 square feet of civic/cultural use. Construction is..

June 1, 2017

Cambridge Healthcare Solutions Completes VA Healthcare Center in Butler, Pennsylvania

BUTLER, PA. — Cambridge Healthcare Solutions has completed development of a Department of Veterans Affairs (VA) healthcare center in Butler. Cambridge teamed with Stantec for design and Mascaro Construction for construction of the building. The VA accepted the facility on May 26, and Cambridge will remain as asset manager throughout a 20-year lease. The 251,000-square-foot facility is located on 46 acres on Duffy Road and valued at approximately $110 million. The healthcare center is expected..

June 1, 2017

Construction Tops Out on Multifamily Development in Weehawken, New Jersey

WEEHAWKEN, N.J. — Avora, a condominium development in Weehawken, has topped out at 11 stories, representing a significant construction milestone for the property, which offers views of midtown Manhattan. Landsea is the developer for the project. When complete, Avora will include 184 units and 6,000 square feet of street-level retail space. Initial occupancy is scheduled for first quarter 2018.

May 31, 2017

Construction Begins on Hotel Indigo in NYC

NEW YORK CITY — Construction has begun on Hotel Indigo, a brand of the InterContinental Hotels Group, at 8-10 Maiden Lane in the Financial District of Manhattan. Designed by Gene Kaufman Architect (GKA), the 90,000-square-foot hotel will include 24 stories and 190 rooms as well as a ground-floor restaurant and rooftop bar.

May 31, 2017