REBusinessOnline

JLL Negotiates $84.3M Sale of Metro Boston Apartment Community

REVERE, MASS. — JLL has negotiated the $84.3 million sale of Eliot on Ocean, a 194-unit apartment community in the eastern Boston suburb of Revere. Built in 2016, Eliot on Ocean offers one-, two- and three-bedroom units averaging 738 square feet. Residences feature stainless steel appliances, quartz countertops and walk-in closets. Amenities include a fitness center with a yoga studio, sun deck, wine room, game room, clubhouse and a dog grooming station. Scott Aiese, Alex Staikos, Jackie …

Crow Holdings to Develop 652,080 SF Logistics Center Near Reading, Pennsylvania

ONTELAUNEE, PENNSYLVANIA — Crow Holdings Industrial will develop Route 61 Logistics Center, a 652,080-square-foot industrial project in Ontelaunee, located near Reading in the southern part of the state. The property will feature a clear height of 40 feet, 484 car parking spots, 182 trailer parking stalls and 124 loading docks. Crow Holdings acquired the nearly 60-acre site from the economic development arm of the Greater Reading Chamber Alliance (GRCA), which purchased the land in 2019 and …

Party City to Relocate Corporate Headquarters to Woodcliff Lake, New Jersey

WOODCLIFF LAKE, N.J. — Accessories retailer Party City will relocate its corporate headquarters to 100 Tice Boulevard, a 208,911-square-foot office building located in the Northern New Jersey community of Woodcliff Lake. The company is consolidating its current headquarters offices in Rockaway and Elmsford, New York, into one location beginning next year. Ben Brenner of Cushman & Wakefield and Harlan Hollander of Savills represented Party City in the lease negotiations. Joe Sarno Sr., Jon …

Progress Capital Arranges $44.3M Acquisition Loan for New Jersey Multifamily Portfolio

MAHWAH, WESTWOOD AND SHORT HILLS, N.J. — Progress Capital has arranged a $44.3 million acquisition loan for a portfolio of three multifamily properties totaling 175 units in Northern New Jersey. Rolling Gardens is a 76-unit complex in Mahwah that consists of four buildings on a 5.3-acre site. Westview Apartment Complex totals 48 units across nine buildings and is located in Westwood. Short Hills Village comprises 51 units across three buildings and is located in Short Hills. Brad Domenico and …

Northwell Health Signs Lease Renewals Totaling 32,413 SF in Lake Success, New York

LAKE SUCCESS, N.Y. — Northwell Health, New York State’s largest health provider and private employer, has signed eight lease renewals totaling 32,413 square feet for an additional 10 years in Lake Success, located in Nassau County on Long Island. The practices of Northwell, which include primary care, gastroenterology and pulmonary disease, are spread among multiple floors at 2001 Marcus Avenue, a 214,000-square-foot medical office building. Kevin Driscoll represented the landlord, The Feil …

Walker & Dunlop Arranges $170M Loan for Refinancing of Manhattan Office Building

NEW YORK CITY — Walker & Dunlop has arranged a $170 million loan for the refinancing of 122 Fifth Avenue, a 300,000-square-foot office building located near Manhattan’s Union Square neighborhood. The property was originally built in 1900 and includes retail space. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Bastian and Michael Ianno of Walker & Dunlop arranged the loan through PCCP LLC. The borrower, Bromley Cos., which has owned the building for more than 40 …

KRE Group, Silverman Begin Leasing 273-Unit Apartment Community in Lehigh Valley

UPPER MACUNGIE, PA. — Kushner Real Estate Group (KRE) and The Silverman Group have begun leasing a 273-unit apartment community in the Lehigh Valley community of Upper Macungie. Lehigh Hills features one- and two-bedroom units that are furnished with granite countertops, stainless steel appliances and individual washers and dryers. Amenities include a pool, outdoor grilling and picnic areas, fitness center with a yoga studio, conference room, lounge areas, package lockers, tot lot and a dog …

Solar Seal Signs 201,000 SF Industrial Lease in Norwich, Connecticut

NORWICH, CONN. — Solar Seal, a manufacturer of insulated glass units, has signed a 201,000-square-foot industrial lease at 40 Wisconsin Ave. in Norwich, located in Connecticut’s New London County. According to LoopNet Inc., the property was built on 25 acres in 1980 and features a clear height of 28 feet. Nicholas Morizio and Sean Kumnick of Colliers represented the tenant and the landlord, an affiliate of Massachusetts-based Grossman Cos., in the lease

CBRE Negotiates $11M Sale of Milford Plaza Shopping Center in Connecticut

MILFORD, CONN. — CBRE has negotiated the sale of Milford Plaza, a 180,315-square-foot shopping center located in the southern coastal part of the state. Anchored by grocer G-Mart, Milford Plaza was 65 percent leased at the time of sale, with other tenants including Planet Fitness, Dollar Tree and Hartford Healthcare. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the owner, The Hampshire Cos., in the transaction. The team also procured the …

Marcus & Millichap Brokers $5M Sale of Industrial Property in Bristol, Connecticut

BRISTOL, CONN. — Marcus & Millichap has brokered the $5 million sale of a 69,494-square-foot industrial property in Bristol, located in Hartford County. The property was built in 1969 and renovated in 2020. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a private investor, in the transaction. The duo also procured the buyer. Both parties requested

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‣ NAI Global
‣ Walker & Dunlop

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