LED Lighting: An Amenity With Immediate Payback for Office Owners

DURHAM, N.C — The term “environment” is typically thought of as being strictly outdoors, but for office owners, investors and tenants, the interior of office buildings is an environment unto itself. And like planet Earth, an office environment needs investment in order to protect its inhabitants. “We believe the workplace, where employees spend eight hours a day or longer, must provide a healthy and stimulating interior environment,” says Dan Goldstein, managing partner with …

Berkadia Acquires Capital Advisory Firm Central Park Capital Partners

NEW YORK CITY — Berkadia has acquired Central Park Capital Partners (CPCP), a boutique real estate capital advisory firm focused on arranging joint venture investments and structured capital from international and domestic sources. CPCP Managing Principal Noam Franklin and principals Chinmay Bhatt and Cody Kirkpatrick will launch Berkadia’s structured capital group to offer support and resources to Berkadia

Procida Funding Provides $7M Construction Loan for Townhome Development in Pennsylvania

UPPER MACUNGIE TOWNSHIP, PA. — Procida Funding has provided a $7 million construction loan for a townhome community in Upper Macungie Township. Located at Wrenfield 1230 Route 100 North, the $26 million project will consist of 98 market-rate, two- and three-story townhouse units with an average size of 2,264 square feet. Ashley Development Corp. will construct the community. The borrower was Lou

Naftali Credit Partners Secures $65M Construction Loan for Condominium Project in Queens

NEW YORK CITY — Naftali Credit Partners has arranged a $65 million construction loan for a 74-unit luxury condominium project in Queens. Located at 107-02 Queens Blvd., the 10-story property will also include more than 25,000 square feet of retail space. Amenities will feature a fitness center, playroom and rooftop terrace. Naftali Credit Partners secured the financing on behalf of the borrower, a partnership between RJ Capital Holdings and RB Realty Capital through lender CIT Bank. …

NAI Hanson Secures 7,791 SF Industrial Lease in New Providence, New Jersey

NEW PROVIDENCE, N.J. — NAI Hanson has secured a 7,791-square-foot industrial lease for United Brewing in New Providence. The microbrewery will occupy 140 Spring St., Unit C, at the 66,000-square-foot property. United Brewing plans to set up a full production brewery as well as a tasting room at the site. Barry Cohorsky of NAI James E. Hanson represented the landlord, Davanne Realty Co. & 19-25 Columbia Street Corp., in the transaction. Terms of the lease were not …

Marcus & Millichap Orchestrates $1.2M Sale of Mixed-Use Building in New Jersey

MONTCLAIR, N.J. — Marcus & Millichap has arranged the $1.2 million sale of a 4,500-square-foot mixed-use property in New Jersey. Located at 413 Bloomfield Ave., the property consists of two apartment units and one retail unit. Alan Cafiero, Ben Sgambati, Chip Collins, David Cafiero, Michael DeVita and Thomas Cleary of Marcus & Millichap’s New Jersey office represented the seller, a personal trust, in the transaction. The buyer was a limited liability …

Millennials Catalyst for Retail Transformation of Center City Philadelphia

As consumer shopping habits continue to evolve and shoppers get younger, retailers are trying to strike the right balance between their online and physical presence. Those that find this omnichannel harmony are thriving in cities across the United States. Philadelphia’s Center City, in particular, is capitalizing on its booming millennial population and attracting retail concepts that cater to this group. Mike Gorman, Executive Vice President of Brokerage Services and Principal at Metro …

CIM Group Sells 24-Story Tower in Manhattan

NEW YORK CITY — CIM Group has sold Gilman Hall Tower, a 24-story, 146,000-square-foot building in Manhattan. The sales price was undisclosed. Located at the corner of First Avenue and East 17th Street, the building was one of three properties that CIM acquired from Mount Sinai Beth Israel Hospital in March 2017. The building, which was built in 1969, was previously used to house medical residents of Mount Sinai Beth

Cushman & Wakefield Secures $41M Acquisition Financing for Industrial Portfolio in New Jersey

WARREN AND SOMERSET, N.J. — Cushman & Wakefield has arranged a $41 million acquisition loan for a 768,244-square-foot industrial portfolio in Warren and Somerset. The seven-property portfolio is comprised of three industrial buildings, two flex buildings and two office buildings. The properties include 7 Powder Horn Drive, 30 Technology Drive, 40 Technology Drive and 45 Technology Drive in Warren as well as 1 Riverview Drive, 50 Randolph Road and 100 Randolph Road in Somerset. John …

NKF Brokers $15.5M Sale of Office Campus in Malvern, Pennsylvania

MALVERN, PA. — Newmark Knight Frank has brokered the $15.5 million sale of Malvern Executive Center, a 91,190-square-foot office campus in Malvern. Located at 100 Deerfield Lane, the property was 73 percent occupied at the time of sale. The private campus includes abundant parking and a state-of-the-art fiber optic cabling system. Mike Margolis, Dave Dolan, Dave Garonzik and Jim Dugan of NKF represented the seller, PNL Cos., in the transaction. The buyer was …

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