REBusinessOnline

New Jersey Gov. Murphy Extends State of Emergency, Says State Will Begin Stage II of Reopening on June 15

TRENTON, N.J. — New Jersey Gov. Phil Murphy has extended the state of emergency declaration amid the COVID-19 outbreak, according to a statement released by his office on Thursday, June 4. The move extends all executive orders related to the temporary closing of businesses and enforcement of social distancing — originally ordered on March 9 — for at least another 30 days. The state of emergency allows the state government to receive financial assistance from the federal government and …

JLL Arranges $10.1M Acquisition Loan for Industrial Property in West Deptford, New Jersey

WEST DEPTFORD, N.J. — JLL has arranged a $10.1 million acquisition loan for a 183,000-square-foot industrial property in West Deptford, a southern suburb of Philadelphia. Wells Fargo Bank provided the five-year, floating-rate loan to the borrower, New York-based developer Clarion Partners. Located at 100 Friars Blvd., the industrial warehouse and distribution facility is located within the Mid-Atlantic Corporate Center and features a clear height of 24 feet, 19 loading doors and one …

M&T Bank Provides $8.3 Million Loan for Refinancing of Industrial Property in Metro Boston

MALDEN, MASS. — M&T Bank has provided an $8.3 million loan for the refinancing of an industrial property in Malden, a northern suburb of Boston. A partnership between Oliver Street Capital and Bain Capital Real Estate was the borrower. Located at 129 Commercial St., the 54,000-square-foot property features a clear height of 12 feet, four loading docks and one drive-in door. National Grid currently leases the property. David Douvadjian, Timothy O’Donnell and Brian Butler of Newmark …

Bio-Med Devices Signs 6,500 SF Industrial Lease in Guilford, Connecticut

GUILFORD, CONN. — Medical engineering service Bio-Med Devices has signed a 6,500-square-foot industrial lease in Guilford, an eastern suburb of New Haven. Located at 1 Shoreline Drive, the 72,000-square-foot building features a clear height of 24 feet and was constructed in 2000. The property offers convenient access to State Route 1 and the Connecticut Turnpike, and Bio-Med’s headquarters and primary manufacturing facility is within two blocks of the facility. Bio-Med Devices manufactures …

RIPCO Real Estate Brokers $7.4M Sale of Post Office in Queens

NEW YORK CITY — RIPCO Real Estate (RIPCO) has brokered the $7.4 million sale of Woolsey Station Post Office, a 7,668-square-foot building occupied by the United States Postal Service in the Astoria neighborhood of Queens. Located at 2268 31st St., the property is situated near multiple retail and restaurant businesses and offers convenient access to Interstate 278. Greg Batista, Todd Cooper and Mark Kaplan represented the seller, Ditmars Associates, in the transaction. LG Astoria LLC was …

Jonathan Rose, Schochet Cos. Acquire Multifamily Property in Metro Boston for $83.5M

MEDFORD, MASS. — A joint venture between New York-based developer Jonathan Rose Cos. and Massachusetts-based property owner and manager Schochet Cos. has acquired Riverside Towers, a 200-unit multifamily property in Medford, a northern suburb of Boston, for $83.5 million. Located adjacent to the Medford Senior Care Center at 99 Riverside Ave., the property is designated for occupancy by elderly and disabled residents. Schochet Cos., which was also a partner in the previous ownership team, has …

Stay-At-Home Order Expires Today in Pennsylvania, Governor Wolf Renews State of Emergency

HARRISBURG, PA. — Pennsylvania’s stay-at-home order will expire at tonight at 11:59 p.m. as all 67 counties in Pennsylvania prepare shift into less severe restrictions. Pennsylvania Gov. Tom Wolf announced the amendment on Wednesday, June 3, but also renewed Pennsylvania’s state of emergency for an additional 90 days. Pennsylvania’s state of emergency restricts business operations and social interaction on a system of red, yellow and green phases. All of Pennsylviania's reopening …

Japan Tobacco International USA Signs 18,500 SF Office Lease Renewal in Teaneck, New Jersey

TEANECK, N.J. — Japan Tobacco International USA (JTI) has signed an 18,500-square-foot office lease renewal in Teaneck, a northwestern suburb of New York City. The space is located at 500 Frank W. Burr Blvd. within the 50-acre Glenpointe office complex. The complex offers 670,000 square feet of Class A office space, a 26,000-square-foot fitness center and 700 guest rooms across three onsite hotels. The tenant has leased its space for 11 years. Greg Barkan of CBRE represented JTI in the lease …

Cushman & Wakefield Negotiates 11,200 SF Office Lease in Princeton, New Jersey

PRINCETON, N.J. — Cushman & Wakefield has negotiated an 11,200-square-foot office lease for power semiconductor manufacturer United Silicon Carbide in Princeton. The space is on the first floor of an office building located at 650 College Road E. The 168,000-square-foot property is situated within Princeton University's 2,000-acre master-planned business/research campus. The leasing team of Todd Elfand, Kevin Carton, Paul Giannone and Joe Vacca of Cushman & Wakefield represented the …

Marcus & Millichap Brokers Sale of 14-Unit Multifamily Property in West New York, New Jersey

WEST NEW YORK, N.J. — Marcus & Millichap has brokered the $2 million sale of a 14-unit apartment property located in West New York, a western suburb of New York City. The property is located at 6115 Madison St. and was constructed in 1934. Jonathan Zamora of Marcus & Millichap represented the seller and procured the buyer. Both parties were private investors that requested

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