REBusinessOnline

Brennan Investment Breaks Ground on 954,111 SF Speculative Industrial Park Near Denver

COMMERCE CITY, COLO. — Brennan Investment Group, a Chicago-based developer, has broken ground on Colorado Logistic Park, a speculative industrial development consisting of five buildings totaling 954,311 square feet. The property is located in Commerce City, a northeastern suburb of Denver. Brennan and New York Life Real Estate Investors, on behalf of an institutional client, formed a joint venture to acquire, construct and lease the project. Brennan has started Phase I of the …

Marcus & Millichap Negotiates $58M Sale of Retail Center in Attleboro, Massachusetts

ATTLEBORO, MASS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $58 million sale of Bristol Place, a retail center located about 30 miles south of Boston. At the time of sale, the property was 88 percent leased to tenants including Market Basket, Home Depot and Hobby Lobby. Joseph French, Glen Kunofsky, Thomas Dalzell, Russell Wachtler of IPA represented the undisclosed seller in the transaction. French procured the buyer, a joint venture …

JLL Arranges $43M in Refinancing for Multifamily Property in Morris Plains, New Jersey

MORRIS PLAINS, N.J. — JLL has arranged $43 million for the refinancing for Signature Place, a 197-unit multifamily community in Morris Plains, a city located about 30 miles east of New York City. Nationwide Life Insurance Co. provided the loan, which carries a fixed interest rate and a five-year term. Loan proceeds retired the existing construction loan. Signature Place offers one-, two- and three-bedroom units, with amenities including a fitness center, walking trail and tennis courts. Jon …

Whole Foods to Open 60,000 SF Store in Manhattan

NEW YORK CITY — Whole Foods Market will open a 60,000-square-foot store within 63 Madison Avenue, a 15-story office building in Manhattan. The store will occupy 10,000 square feet on the ground floor of the building and 50,000 square feet on the second floor. The building owner, a partnership between George Comfort & Sons, Jamestown and Loeb Partners Realty, plans to renovate the first and second floors with glass walls and a new lobby. The time frame of the construction was not …

NAI Hanson Negotiates 31,550 SF Industrial Lease in Saddle Brook, New Jersey

SADDLE BROOK, N.J. — NAI Hanson has negotiated a 31,550-square-foot industrial lease for Leco Plastics Inc. in Saddle Brook, a western suburb of New York City. The building features 5,000 square feet of office space and 20-foot ceiling heights. Steven Leitner and Scott Perkins of NAI Hanson represented the landlord, Wilbur ’96 LLC, in the lease negotiations. Dean Brody of JLL represented

Fantini & Gorga Arranges $20.5M Construction Loan for Multifamily Project in Mansfield, Massachusetts

MANSFIELD, MASS. — Fantini & Gorga has arranged a $20.5 million construction loan for 300 North Main, a multifamily development in Mansfield, a city located about 25 miles south of Boston. Two undisclosed, Massachusetts-based financial institutions provided a total of $19 million, and a group of private investors provided and additional $1.5 million. The property will offer one- and two-bedroom apartments, including 15 affordable units, as well as 11,674 square feet of retail space. A …

Rockefeller Group Breaks Ground on 900,022 SF Industrial Property in Edison, New Jersey

EDISON, N.J. — Rockefeller Group, a New York-based developer, has broken ground on a 900,022-square-foot industrial property in Edison, about 30 miles southwest of New York City. The speculative distribution center will be located on 56 acres off Route 27 and will feature 40-foot ceiling heights, 150 dock doors and 464 parking stalls. New Jersey-based KSS Architects is designing the project, construction of which is slated for completion in August

HREC Arranges Sale of 77-Room Hampton Inn in Rochester, New York

ROCHESTER, N.Y. — Hospitality Real Estate Counselors (HREC), a Denver-based hospitality real estate firm, has arranged the sale of a 77-room Hampton Inn in Rochester, in upstate New York. The hotel is located off the Keeler Street Expressway in the northern Irondequiot suburb. Ketan Patel and Mark von Dwingelo of HREC represented the seller, an undisclosed real estate company, in the transaction. The buyer was a regional hotel owner and

Hanley Investment Group Brokers $6.6M Sale of Retail Center on Long Island

HICKSVILLE, N.Y. — Hanley Investment Group (HIG) has brokered the $6.6M Sale of a 13,300-square-foot retail center in Hicksville. The center was 100 percent leased at the time of sale with tenants including Dunkin’, Pizza Hut and DTE Window Tinting. The final sale also included a single-family home near the property. Dylan Mallory and Jeff Lefko of HIG along with Marty Sass of New York-based Silber Investment Properties represented the seller, Riark LLC, in the transaction. Robert …

Edge Fitness Signs 48,776 SF Retail Lease in Voorhees, New Jersey

VOORHEES, N.J. — Edge Fitness Clubs has signed a 48,776-square-foot retail lease at the Echelon Village Plaza in Voorhees, a southeastern suburb of Philadelphia. The gym will anchor the 90,000-square-foot retail center, which also houses a Dunkin’ and Voorhees Veterinary. Scott Benson and Brandon Anapol of Metro Commercial represented Edge Fitness in the lease negotiation. David Dunkelman of Soloff Realty & Development represented the landlord, Site

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