REBusinessOnline

CVS to Hire 15,000 Employees in Anticipation of Greater COVID-19, Flu Cases

WOONSOCKET, R.I. — CVS (NYSE: CVS) intends to hire 15,000 new employees during the fourth quarter in anticipation of communities seeing greater incidences of COVID-19 and the flu during the upcoming winter months. More than 10,000 of these positions are for full- and part-time licensed pharmacy technicians, some of which will be offered on temporary bases with the possibility of becoming permanent. Rhode Island-based CVS is also recruiting qualified candidates to work as pharmacists, nurses, …

Company News, Northeast, Retail, Rhode Island

Black Bear Capital Arranges $32M Loan for Refinancing of Multifamily Asset in New Rochelle

NEW ROCHELLE, N.Y. — Black Bear Capital Partners has arranged a $32 million bridge loan for the refinancing of The Millennia, a 110-unit luxury apartment complex in the northern New York City suburb of New Rochelle. The newly built property also houses 4,500 square feet of commercial space and roughly a dozen units that are reserved for renters earning 80 percent or less of the area median income. Amenities include a fitness center, private office space, outdoor grilling areas, a rooftop …

Loans, Multifamily, New York, Northeast

Walker & Dunlop Provides $25.2M Agency Loan for Refinancing of Lehigh Valley Apartments

BETHLEHEM, PA. — Walker & Dunlop has provided a $25 million Fannie Mae loan for the refinancing of Bethlehem Fields Apartments a multifamily community located in Pennsylvania’s Lehigh Valley region. The property features one- and two-bedroom apartments and townhomes for a total of 216 residences. John Banas, Kris Wood, John Wilson and Rhett Saltiel of Walker & Dunlop originated the 10-year, fixed-rate loan, which was also structured with three years of interest-only payments. The …

Loans, Multifamily, Northeast, Pennsylvania

Walters Nears Completion of 72-Unit Affordable Housing Project in Howell, New Jersey

HOWELL, N.J. — New Jersey-based developer Walters is nearing completion of Cornerstone at Howell, a 72-unit affordable housing development in coastal New Jersey. Residents have begun moving in to the four-building development, which features one-, two- and three-bedroom units with individual washers and fully equipped kitchens with granite countertops. Amenities include outdoor grilling and picnic stations, a clubhouse with a fitness center and a children’s play area. Walters expects to …

Development, Multifamily, New Jersey, Northeast

Planet Fitness Signs 20,000 SF Retail Lease at Mayfair Shopping Center on Long Island

COMMACK, N.Y. — Planet Fitness has signed a 20,000-square-foot retail lease at Mayfair Shopping Center, a 221,000-square-foot power center located in the Long Island city of Commack. A 60,000-square-foot Best Market grocery store anchors the property, which also houses tenants such as Rite Aid, Capital One Bank, Sherwin-Williams and Verizon Wireless. E.J. Moawad of New Jersey-based Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Jack Chera of Crown …

Leasing Activity, New Jersey, Northeast, Retail

Kayne Anderson, Watermark, Tishman Speyer Open $330M Seniors Housing Community in Brooklyn

NEW YORK CITY — A development team consisting of Kayne Anderson Real Estate, Watermark Retirement Communities and Tishman Speyer has opened the $330 million Watermark at Brooklyn Heights seniors housing community at 21 Clark St. The project is a redevelopment of the Leverich Towers Hotel, a 310,000-square-foot hotel built in 1928 that served as the pre-game home of the Brooklyn Dodgers baseball team in the 1930s and 1940s. Watermark at Brooklyn Heights features 50,000 square feet of indoor …

Acquisitions, Multifamily, New York, Northeast, Seniors Housing

Lincoln Property Co. Receives Approval for 200,000 SF Life Sciences Project Near Boston

LEXINGTON, MASS. — Dallas-based Lincoln Property Co. has received approvals to move forward with the development of a 200,000-square-foot life sciences project at 91 Hartwell Ave. in the Boston metro of Lexington. Designed by Boston-based architecture firm DiMella Shaffer, the property will consist of 95,000 square feet of lab space, 125,000 square feet of office space and a 502-space parking structure. The development team also includes Paul Finger Associates, LEC Environmental and Nitsch …

Development, Healthcare, Massachusetts, Northeast, Office

Kislak Brokers $26.5M Sale of Multifamily Building in Rahway, New Jersey

RAHWAY, N.J. — The Kislak Company has brokered the $26.5 million sale of Skyview Rahway, a 160-unit multifamily building located south of Newark in Union County. Built in 2005, the property consists of 45 one-bedroom units, 102 two-bedroom units and 13 penthouses in addition to Class A amenities such as a rooftop terrace, fitness center and concierge services. Jeff Squires of Kislak represented the seller in the transaction, and Barry Waisbrod of Kislak procured the New York-based buyer. Both …

Acquisitions, Multifamily, New Jersey, Northeast

Larken Associates Completes 198-Unit Multifamily Project in Lopatcong, New Jersey

LOPATCONG, N.J. — Developer Larken Associates has completed Autumn Ridge, a 198-unit multifamily project in Lopatcong, about 75 miles west of New York City. Autumn Ridge features a combination of 198 market-rate and affordable luxury apartment units across 10 buildings as well as a standalone building for residents age 55 and over. Amenities include a clubhouse, pool, outdoor lounge, fitness center, pet park, lounge/dry bar and a package concierge

Development, Multifamily, New Jersey, Northeast, Seniors Housing

Marcus & Millichap Arranges Sale of 114,249 SF Retail Center in Mount Olive, New Jersey

MOUNT OLIVE, N.J. — Marcus & Millichap has arranged the sale of Mount Olive Parkade, a 114,249-square-foot retail center located about 50 miles west of New York City. The property sold for $6 million. Michael Lombardi and Steven Schiavello of Marcus & Millichap represented the seller and secured the buyer in the transaction. Both parties were limited liability companies that requested

Acquisitions, New Jersey, Northeast, Retail
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