REBusinessOnline

JLL Secures $87M Loan for Construction of Terminal Logistics Center in Queens

NEW YORK CITY — JLL has secured an $87 million construction loan for the ground-up development of Terminal Logistics Center, a 300,000-square-foot industrial project in Queens. CIT Group Inc. provided the loan to the borrower, a partnership of Triangle Equities Development Co., Township Capital Inc. and L&B Realty Advisors LLP, which will develop the Class A warehouse and storage facility adjacent to John F. Kennedy International Airport. Total cost for the project is approximately $129 …

Cambria Opens 159-Room Cambria Hotel Boston, Downtown-South Boston

BOSTON — Cambria Hotels has opened the 159-room Cambria Hotel Boston, Downtown-South Boston. The hotel offers close access to the Massachusetts Bay Transportation Authority red line. Amenities include a rooftop restaurant, lobby lounge, fitness center and 160-person event space. RODE Architects designed the building, the first Cambria Hotel in

Hartford HealthCare to Open 40,700 SF Medical Facility in North Haven, Connecticut

NORTH HAVEN, CONN. — Hartford HealthCare Corp. will open a new 40,700-square foot facility in the 273,452-square-foot North Haven Pavilion retail center in North Haven, a northern suburb of New Haven. Hartford HealthCare provides a range of medical services including air ambulance, behavioral health and rehabilitation, and skilled nursing and home health services. The facility will occupy space in the former Sports Authority building, joining tenants including Target and Michaels. National …

Serendipity Labs Opens 23,000 SF Coworking Office in Westport, Connecticut

WESTPORT, CONN. — Flexible workspace provider Serendipity Labs has opened a 23,000-square-foot coworking office space in Westport, an eastern suburb of Stamford. The space is located at 55 West Boston Post Road Homeclear Serendipity Westport LLC owns the office

NAI Hanson Negotiates 3,005 SF Office Lease Expansion in Elmwood Park, New Jersey

ELMWOOD PARK, N.J. — NAI James Hanson has negotiated a 3,005-square-foot lease expansion for roofing contractor Peck Brothers LLC in Elmwood Park, a western suburb of New York City. The company originally leased 4,970-square-feet at Elmwood Park Plaza beginning in 2018, and its headquarters now occupies a total 7,973 square feet. Located at 475 Mark Street, the total square footage of the building is 68,000 square feet. Randy Horning and Darren Lizzack represented Peck Brothers in the lease …

Square Mile Provides $433.8M Construction Loan for Cambridge Crossing Life Sciences Project

CAMBRIDGE, MASS. — Square Mile Capital Management LLC has provided a $433.8 million construction loan for the next phase of Cambridge Crossing, a mixed-use development in the Boston area. The loan will fund construction of a nine-story, 479,000-square-foot life sciences and tech building with ground-floor retail space and below-grade parking. The loan will also finance the construction of a two-story, 19,000-square-foot retail and office building located on a separate parcel. The borrower was …

JLL Negotiates Sale of 128,172 SF Larchmont Commons Retail Asset in Metro Philadelphia

MOUNT LAUREL, N.J. — JLL has negotiated the $18.2 million sale of Larchmont Commons, a 128,172-square-foot retail center in Mount Laurel, a suburb of Philadelphia. Anchored by ALDI, Planet Fitness and Dollar Tree, the property was 88 percent leased at the time of sale. Other tenants include Hair Cuttery, The UPS Store and Kumon Learning Center. Chris Munley, James Galbally, Jose Cruz and Colin Behr of JLL represented the sellers, RPC Real Estate and Merion Realty Partners. Ryan Ade of JLL …

Crosspoint Associates Buys 81,702 SF Amherst Shopping Center in Central Massachusetts

AMHERST, MASS. — Metro Boston-based investment firm Crosspoint Associates Inc. has purchased Amherst Shopping Center, an 81,702-square-foot retail asset in the central Massachusetts city of Amherst. Built in 1997 and anchored by Big Y Supermarket and CVS, the property was 97 percent leased at the time of sale. Additional tenants include Dunkin’, Goodwill and Supercuts. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The price was not

Berkadia Arranges $43M Refinancing for Deer Creek Apartments in Plainsboro, New Jersey

PLAINSBORO, N.J. — Berkadia has arranged a $43 million loan for the refinancing of Deer Creek, a 288-unit apartment community in Plainsboro, a northern suburb of Trenton. The property is situated on 34 acres, features one- and two-bedroom units, and offers amenities such as a pool, tennis courts and a fitness center. Robert Falese of Berkadia arranged the loan on behalf of the borrower, a joint venture between Verde Capital Corp., Kushner Real Estate Group and Oxford Realty Group, which …

Taco Bell Cantina to Open at The Paramount Building in Times Square

NEW YORK CITY — Taco Bell Cantina, a concept from the fast-food chain that incorporates alcoholic beverage service, will open a new restaurant at The Paramount Building, an 800,000-square-foot tower located in Manhattan’s Times Square. David Firestein and Jenna Heidenberg of SCG Retail represented Taco Bell in the lease negotiations. Ross Berkowitz, Jason Wecker and Andrew Taub of Newmark Knight Frank represented the landlord, Rosemark Management and Levin Management Corp. in conjunction …

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