REBusinessOnline

CBRE Arranges Sale of 168-Unit Apartment Community in Orange, Connecticut

ORANGE, CONN. — CBRE has arranged the $35 million sale of Grand Reserve Orange, a 168-unit apartment community located in Orange, a western suburb of New Haven. Built in 2005, Grand Reserve Orange offers one-, two- and three-bedroom floor plans with amenities including a fitness center, resident clubhouse and pool. Jeffrey Dunne, Gene Pride, Eric Apfel, Simon Butler and Biria St. John of CBRE represented the seller, Fairfield Grand Reserve LLC. The team also procured the buyer, a private New …

Condyne Sells 125,609 SF Research Facility in Andover, Massachusetts

ANDOVER, MASS. — Condyne, a Massachusetts-based developer, has sold 160 Dascomb Road, a 125,609-square-foot research facility in Andover, located approximately 20 miles north of Boston, for $26.2 million. The facility was 100 percent leased to Lockheed Martin and data and security company Accu-Tech at the time of sale. Boston Private Bank provided $17.2 million in acquisition financing. Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo of JLL represented Condyne …

Colliers Brokers Sale of 96,000 SF Office Complex in Mount Laurel, New Jersey

MOUNT LAUREL, N.J. — Colliers International has brokered the $10.6 million sale of the Fellowship Business Center, a 96,000-square-foot office complex in Mount Laurel, an eastern suburb of Philadelphia. The five-building complex is situated within the East Gate Business Park and was 96 percent occupied at the time of sale. Ian Richman and Marc Isdaner of Colliers represented the seller, The Bloom Organization. The buyer was a private

ROCK Negotiates 19,000 SF Industrial Lease in York, Pennsylvania

YORK, PA. — ROCK Commercial Real Estate has negotiated a 19,000-square-foot industrial lease for Continental Paper Grading in York, located approximately 55 miles north of Baltimore. The space is located at 3635-3725 Board Road, a 152,700-square-foot industrial complex with 12 drive-in doors and 26 docks. The landlord is Fielder Enterprises. Ted Turnbull and Jason Turnbull of ROCK brokered the

Westhab Signs 8,233 SF Office Lease in the Bronx

NEW YORK CITY — Non-profit community development organization Westhab has a signed an 8,233-square-foot office lease at Union Crossing, a 275,000-square-foot office building in the Bronx. The eight-story building was formerly a warehouse, and following renovations earlier this year, now offers office, light industrial and ground-floor retail space. With a lease term of 10 years, Westhab is the building’s first tenant since the renovation and its space will be built out. Madison Realty …

Hawkins Way Acquires Historic 143-Room Copley Square Hotel in Boston

BOSTON ⁠— Hawkins Way Capital has acquired the historic 143-room Copley Square Hotel in the Back Bay neighborhood of Boston. Built in 1891, the Copley Square Hotel is situated within close proximity of Newbury Street retail and culture center, several colleges and universities, Fenway Park and the Prudential Center. Amenities include 1,500 square feet of meeting and event space, a 24-hour fitness center, a lower-level nightclub and 11,800 square feet of retail space ⁠— including 2,800 …

Cushman & Wakefield Brokers Sale of Two Warehouses totaling 200,000 SF in Linden, New Jersey

LINDEN, N.J. — Cushman & Wakefield has brokered the sale of two industrial warehouses totaling approximately 200,000 square feet in Linden, an eastern suburb of New York City. Located at 2401 E. Linden Ave. and 1501-1525 W. Blancke St., the properties are situated three miles apart and comprise 84,220 and 115,913 square feet, respectively. The location offers close access to the Port of New York and New Jersey. Both warehouses were fully leased to five tenants at the time of sale. Andrew …

Greystone Provides $34.5M Bridge Loan for Multifamily Property in Brooklyn

NEW YORK CITY — Greystone has provided a $34.5 million bridge loan to refinance Lenox Apartments, a 55-unit multifamily property in Brooklyn. The loan refinances previous debt from Madison Realty Capital and comprises a 24-month term with two six-month extensions. Lenox Apartments was completed in 2018 and features 9,000 square feet of retail space on the ground floor. The loan was originated by Anthony Cristi and Hope Curtis of

Merchants Capital Secures $21M Construction loan for Multifamily Community in Queens

NEW YORK CITY — Merchants Capital has secured a $21 million construction loan for a 200-unit multifamily community in Queens. The borrower, Dunn Development, will use the loan to redevelop the Triboro Hospital for Tuberculosis into a housing project that will provide a mix of supportive housing for special needs and homeless tenants, as well as affordable housing for low- to moderate-income households. Merchants Capital secured the funding using a Freddie Mac low-income housing tax credit …

NAI Mertz Negotiates 3,600 SF Office Lease in Cherry Hill, New Jersey

CHERRY HILL, N.J. — NAI Mertz has negotiated a 3,600-square-foot office lease for third-party collection agency Grimley Financial in Cherry Hill, an eastern suburb of Philadelphia. The company will move from its previous location in Haddonfield to the new space within Cherry Hill Plaza, a 100,000-square-foot, Class A office building. Joe Riggs of NAI Mertz represented Grimley Financial in the lease negotiations. Markeim Chalmers Inc. represented the

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