REBusinessOnline

CBRE Arranges Sale of 621,000 SF Former Toys ‘R’ Us Headquarters in Wayne, New Jersey

WAYNE, N.J. — CBRE has arranged the sale of the former Toys ‘R’ Us corporate headquarters in Wayne. The sales price was undisclosed. Located at 1 Geoffrey Way, the 621,000-square-foot property is situated on 191 acres overlooking a reservoir. The property was built in 1962 as the original headquarters for American Cyanamid and consists of two interconnected office buildings. Toys ‘R’ Us occupied the property for 16 years. Jeffrey Babikian, Robert L’Abbate, Allyson L’Abbate, Nor …

Northeast Private Client Group Brokers $6.7M Sale of Apartment Building in New Haven

NEW HAVEN, CONN. — Northeast Private Client Group has brokered the $6.7 million sale of Brendan Towers, a 60-unit brick apartment building in New Haven. The property is located at 457 Whalley Ave. Brad Balletto, Rich Edwards and Jeff Wright of Northeast Private Client Group represented the seller, Navarino Capital, in the transaction. The buyer was

Contently Signs 13,146 SF Office Lease in Manhattan’s Financial District

NEW YORK CITY — Marketing technology company Contently has signed a 13,146-square-foot lease at 44 Wall St. in Manhattan’s financial district. The company will relocate its headquarters from 598 Broadway to a portion of the 13th floor of the 24-story tower. Contently is the content marketing solution for a number of brands, including American Express, Bayer, Dell Technologies, JPMorgan Chase, Marriott and Walmart. Contently was represented in the transaction by Freddie Fackelmayer, Anthony …

Markward Group Orchestrates $2.2M Sale of Development Site in Bethlehem, Pennsylvania

BETHLEHEM, PA. — Markward Group has arranged the $2.2 million sale of an eight-acre development site in Bethlehem. The property is located at 4700-4720 Bath Pike. Matt Macdonald of Markward Group represented the seller, the Kunsman Family, in the transaction. The buyer was Columbia Wegman Hanover LLC., which plans to develop a senior living community on the

Marcus & Millichap Negotiates $1.8M Sale of Retail Property in New Jersey

DENVILLE, N.J. — Marcus & Millichap has arranged the $1.8 million sale of a 12,770-square-foot retail property in Denville. Located at 424 W. Main St., the fully occupied property is situated on 1.4 acres. Michael Lombardi and Scott Plasky of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private

Morgan Properties Acquires Multifamily Portfolio in Philadelphia, Northern Virginia for $890.5M

KING OF PRUSSIA, PA. — Morgan Properties, a Pennsylvania-based investment and management firm, has acquired a portfolio of 10 apartment communities totaling 4,130 units in the metro areas of Philadelphia and Northern Virginia. The sales price was not disclosed, but The Philadelphia Inquirer reports that the portfolio fetched a price of $890.5 million. The Philadelphia assets consist of seven properties totaling 2,346 units, which makes the transaction the largest multifamily acquisition …

HFF Arranges $39.6M Construction Loan for Office Building in Manhattan

NEW YORK CITY — HFF has arranged a $39.6 million construction loan for a 10-story, 34,364-square-foot boutique office building in Manhattan’s meatpacking district. Located at 76 8th Ave., the property will feature ground-floor retail, nine floors of office space and a common roof deck area for tenants. HFF secured financing on behalf of the borrower, Noviprop LLC and co-developer Plus Development. The lender was G4 Capital Partners. The project is scheduled for completion in summer

Liberty Property Trust Acquires Industrial Facility in New Jersey for $39.6M

MOONACHIE, N.J. — Liberty Property Trust has acquired an industrial facility in Moonachie for $39.6 million. Located at 115 Moonachie Ave., the 168,800-square-foot property is fully leased and features 28-foot clear heights. Tom Monahan, Stephen D’Amato, Larry Schiffenhaus, Brian Fiumara of CBRE represented Liberty in the transaction. The seller was

KeyBank Provides $23M Construction Loan for Multifamily Property in Connecticut

STONINGTON, CONN. — KeyBank Real Estate Capital has provided a $23 million construction loan for the development of Harbor Heights Apartments, a multifamily property in Stonington. Once completed, the property will include 121 units in a four-story building. Jeff Rodman of KeyBank secured the fixed-rate financing with a 40-year amortization schedule on behalf of the undisclosed

Cornerstone Realty Capital Secures $4.8M Refinancing for Apartment Community in Connecticut

MANCHESTER, CONN. — Cornerstone Realty Capital has arranged a $4.8 million loan to refinance Manchester Green, a 72-unit apartment complex in Manchester. Located approximately nine miles east of Hartford, the property consists of four buildings with a mix of one- and two-bedroom units. All units feature hardwood floors, modern kitchen and bathroom finishes as well as basement storage. Paul Natalizio of Cornerstone secured financing on behalf of the undisclosed borrower. A local bank provided …

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