NEW YORK CITY — The U.S. Census Bureau has signed a 10,000-square-foot office lease at the Mink Building in West Harlem. Janus is currently redeveloping the asset and several adjacent properties as part of its 1.1 million-square-foot Manhattanville Factory District mixed-use project. The Mink Building and two other buildings in the project are complete, and Janus is currently constructing the Taystee Lab Building, which is slated for completion by the end of 2020.
KINGSTON, N.Y. — Jacobson Properties and Pyramid Brokerage, two New York-based firms, have arranged the $13.6 million sale of a Benedictine Cancer Center, a medical office building in Kingston. The 36,479-square-foot facility, located about 50 miles south of Albany, is 100 percent leased to HealthAlliance Hospital: Mary’s Avenue Campus. Lisa Menin of Jacobson Properties and Leo Jones of Pyramid Brokerage represented the undisclosed seller in the transaction. The buyer was a private equity investor.
NEW YORK CITY and KING OF PRUSSIA, PA. — The Escape Game has selected Sachse Construction to build two new concepts in a project totaling approximately $4.5 million. One concept will be located in New York City and the other in King of Prussia, a northwestern suburb of Philadelphia. The Escape Game is a popular interactive puzzle game with national locations, and construction will include movie-like sets. The construction timeline was undisclosed.
NEW YORK CITY — Davis & Gilbert LLP, a New York City-based law firm, has signed an 86,000 square-foot office lease at 1675 Broadway in Midtown. The lease comprises the 31st through 34th floor and a portion of the 35th floor in the 850,000-square-foot building. Lewis Miller, Scott Gottlieb, Brian Gell and Michael Wellen of CBRE represented Davis & Gilbert in the lease negotiations. Robert Steinman of Rudin Management Co. represented the landlord, The Rudin Family.
NEW YORK CITY — Kelley Drye & Warren LLP, a New York-based law firm, has signed a 103,000-square-foot office lease at 3 World Trade Center in Manhattan. The firm will move to the 66th, 67th and 68th floors of the building in 2020, and will be the first law firm in the building. Other tenants in the building include advertising company GroupM, beverage company Diageo, mattress retailer Casper, and Hudson River Trading. Mary Ann Tighe, Ken Meyerson, Adam Foster, Evan Haskell, Steve Eynon, David Caperna and Rob Hill of CBRE represented the landlord, Silverstein Properties, in the transaction. Patrick Heeg and Ryan McKinney of Transwestern represented Kelley Drye.
ROCHESTER, N.Y. — Broadstone Net Lease (BNL) has acquired 23 industrial properties in 14 states and British Columbia, Canada for $735.7 million. The portfolio was fully leased at the time of sale and comprises a mix of warehouse, distribution, cold-storage, manufacturing and flex properties. The 23 buildings total 6.9 million square feet and are leased to 19 tenants. When the sale closes, Rochester-based BNL’s portfolio will consist of 41 percent industrial properties, 27 percent retail and 18 percent healthcare. The company will own 668 net-leased commercial properties totaling approximately 27.2 million rentable square feet of operational space. The seller and a list of the properties were not disclosed. “This portfolio benefits from attractive real estate and tenant fundamentals and represents a diverse and accretive addition to our net lease real estate portfolio,” says Chris Czarnecki, BNL’s chief executive officer. The new portfolio has a weighted average remaining lease term of 11.5 years and weighted average annual rent increases of about 2.2 percent. The acquisition was funded through a combination of proceeds from BNL’s ongoing private offering of shares of common stock; $150 million from BNL’s $450 million, seven-year, unsecured term loan that matures in February 2026; $300 million from a new …
NEW YORK CITY — Terreno Realty Corp., a San Francisco-based investor, has acquired an industrial property located in Brooklyn for approximately $80.5 million. The property, 134-154 Morgan Avenue, consists of two distribution buildings containing approximately 192,000 square feet and 41 loading positions. The buildings are 100 percent leased to eight tenants. The seller was undisclosed.
YONKERS, N.Y. — CBRE has arranged the $48.3 million sale of Parkledge, a 311-unit affordable housing community Yonkers, a northern suburb on New York City. The property features one-, two-, three- and four-bedroom apartments and was 97 percent occupied at the time of sale. Ninety percent of the units restrict potential tenants to 60 percent area median income. Tim Flint, Jeff Dunne, Gene Pride and Eric Apfel of CBRE represented the seller in the transaction, which was undisclosed. The buyer was Hudson Valley Property Group.
LONG ISLAND CITY, N.Y. — ACRES Capital Corp., a New York-based lender, has provided a $35 million construction loan for 23-20 Jackson Avenue, an 82,000-square-foot mixed-use project located in Long Island City. Local real estate developer VOREA Group was the borrower. Designed by Oklahoma-based KSQ Architects, the property will feature retail across the ground floor and basement, two floors of office space and six floors of hospitality space. Marko J. Kazanjian of JLL arranged the loan, which carries a term of 24 months.
NEW YORK CITY — Cushman & Wakefield, has negotiated a 5,500-square-foot retail lease for French beauty product chain Sephora in downtown Brooklyn. The retail space is located within the Atlantic Terminal Mall, across from the Barclays Center. The new store is scheduled to open in October. Brandon Singer, Ian Lerner, Alan Schmerzler and Diana Boutross of Cushman & Wakefield represented the landlord, New York-based Madison International, in the lease negotiations. Virginia Pittarelli of Crown Retail Services represented Sephora.