REBusinessOnline

Lifespace Completes $39.5M Expansion at Seniors Housing Community Near Pittsburgh

UPPER ST. CLAIR, PA. — Lifespace Communities has completed a $39.5 million expansion project at Friendship Village of South Hills in Upper St. Clair, located approximately 12 miles southwest of Pittsburgh. The project, construction of which began in summer 2017, added a new building with 50 assisted living apartments, 32 memory care suites and various amenities and wellness services. Perkins Eastman Architects designed the expansion, and LECESSE Construction served as the general

Capital Funding Provides $13.8M Acquisition Financing for Skilled Nursing Facility in New Jersey

NEW JERSEY — Capital Funding LLC has provided a $13.8 million bridge-to-HUD loan for the acquisition of a skilled nursing facility in New Jersey. Preferred Care operates the property, which features 126 beds. Further details on the name, location and borrower were not disclosed. Craig Casagrande originated the transaction for Capital

NNN Acquisition Group Buys 205,000 SF Walmart Store in Rochester, New York

ROCHESTER, N.Y. — NNN Acquisition Group LLC, a Texas-based developer, has purchased a 205,000-square-foot retail property leased to Walmart store in Rochester, located approximately 70 miles east of Buffalo. NNN purchased the property for $8.3 million and may redevelop the property following the completion of Walmart’s lease term, which has less than five years remaining. Joshua Pardue of Stan Johnson Co. represented the seller, Urban Edge Properties, in the

CBRE Arranges $11.3M Sale of Two Multifamily Properties in New Jersey 

PISCATAWAY AND JAMESBURG, N.J. — CBRE has arranged the $11.3 million sale of two office properties in Piscataway and Jamesburg, both located approximately 40 miles southwest of New York City. Heritage at Piscataway is an income-restricted active adult seniors housing community for residents age 55 and over, which consists of 30 one-bedroom apartments and sold for $3.2 million. Brookside Village is a newly constructed multifamily property that consists of 42-apartments and sold for $8.1 …

Sign of the Horse Brewery to Open 4,850 SF Pub in Hanover, Pennsylvania

HANOVER, PA. — Sign of the Horse Brewery will open a 4,850-square-foot bar and pub in Hanover, located approximately 35 miles south of Harrisburg. The company will brew and serve fresh beer as well as a full food menu at 979 York St.,  a 12,010-square-foot cement warehouse that was redeveloped into retail space. Tenants at the property  currently include Earling Chiropractic Clinic, pet cremation service Companions at Peace Inc. and apparel retailer Homefield Advantage. Nate Resh and John …

Kelleher & Sadowsky Brokers Sale of 244,000 SF Worcester Plaza Tower

WORCESTER, MASS. — Kelleher & Sadowsky Associates Inc. has brokered the sale of Worcester Plaza Tower, a 244,000-square-foot office tower in central Massachusetts. The sales price was $16.5 million. The 24-story tower is the tallest office building in Worcester. Kelleher & Sadowsky represented the seller, S-BNK Worcester Main, an entity registered to the Casey Brothers Trust of Boston. The firm also procured the buyer, Synergy Investments, which plans to make capital improvements to …

SL Green Acquires 160,000 SF Office Building in Manhattan

NEW YORK CITY — SL Green Realty Corp., a publicly traded office investment firm, has acquired 603 West 50th Street, a 160,000-square-foot office building in Manhattan. KCP Holdco Inc., an affiliate of the seller that currently occupies the property, will lease approximately 40,000-square-feet of office space to serve as its headquarters. SL Green will undertake a full-building repositioning to elevate the profile of this asset, which was originally built in 1940. Woody Heller and David Heller …

Qatar-Based Investment Firm Buys Two Boston Office, Retail Properties Totaling 159,781 SF

BOSTON — Alduwaliya, a Qatar-based investment firm, has purchased 99 Chauncy Street and 101 Summer Street, two office buildings totaling 159,781 square feet in Boston’s Financial District. Both properties include ground-floor retail space and were fully leased at the time of sale to tenants with an average weighted lease term of 7.2 years. Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines of CBRE represented the seller, Nuveen Real …

ARCO/Murray Completes 1,200-Unit Self-Storage Facility for CubeSmart in Hillside, New Jersey

HILLSIDE, N.J. — Dallas-based design-build firm ARCO/Murray has completed a 1,200-unit self-storage facility for CubeSmart in Hillside, located just west of Newark Liberty International Airport. The six-story facility spans 145,800 square feet, features climate-controlled space and includes a 1,200-square-foot

JLL Negotiates Sale of 74,968 SF County Line Plaza Retail Center in Philadelphia

PHILADELPHIA — JLL has negotiated the sale of County Line Plaza, a 74,968-square-foot retail center in northeast Philadelphia. Anchored by Big Lots and The Edge Fitness Club, the property was approximately 90 percent leased at the time of sale to tenants such as Integrated Medical Care, Pho Palace, Akira Sushi and DT Nails & Spa. Chris Munley, Jim Galbally and Colin Behr of JLL represented the seller, Slate Property Group, in the transaction. A private investor purchased the asset for an …

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