Wednesday, June 18, 2025
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Hampton-Inn-&-Suites-Bridgewater
AcquisitionsHospitalityNew JerseyNortheast

Hunter Hotel Advisors Negotiates Sale of 133-Room Hampton Inn & Suites in Bridgewater, New Jersey

by Taylor Williams

BRIDGEWATER, N.J. — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the 133-room Hampton Inn & Suites Bridgewater, located in Central New Jersey’s Raritan Valley. The hotel was built in 2017 and offers amenities such as a fitness center, indoor pool and a lobby bar. An entity doing business as FSG Bridgewater Hotel LLC sold the property to New Jersey-based owner-operator Innzen Hospitality for an undisclosed price. Spencer Davidson of Hunter Hotel Advisors brokered the deal.

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AcquisitionsIndustrialNew JerseyNortheast

NAI DiLeo-Bram Brokers $6M Sale of Northern New Jersey Industrial Building

by Taylor Williams

UNION, N.J. — NAI DiLeo-Bram has brokered the $6 million sale of a 24,000-square-foot industrial building in the Northern New Jersey community of Union. According to LoopNet Inc., the single-tenant building at 860 Springfield Road was constructed in 1961 and features a clear height of 16 feet and four dock-high loading doors. Richard Goski and Catherine Goski-Vasquez of NAI DiLeo-Bram brokered the deal. The buyer and seller were not disclosed.

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LoansMultifamilyNew JerseyNortheast

JLL Arranges $50M Permanent Loan for Southern New Jersey Apartment Complex

by Taylor Williams

WESTAMPTON, N.J. — JLL has arranged a $50 million permanent loan for a 275-unit apartment complex in Westampton, located in Southern New Jersey’s Burlington County. The name of the property was not disclosed. Michael Klein and Gerard Quinn of JLL arranged the five-year, fixed-rate loan through a life insurance company. The name of the borrower was also not disclosed.

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AcquisitionsNortheastRetailRhode Island

Encore Enterprises, AmCap Acquire 152,595 SF Shopping Center in Warwick, Rhode Island

by Taylor Williams

WARWICK, R.I. — A joint venture between Dallas-based investment firm Encore Enterprises and Connecticut-based AmCap Management has acquired Cowesett Corners, a 152,595-square-foot shopping center in Warwick, located just south of Providence. Grocer Stop & Shop anchors the center, which is also home to tenants such as PetCo, Five Below, Sally Beauty, GameStop and Oak Street Health. The center’s food-and-beverage component encompasses Five Guys Burgers & Fries, Applebee’s, Moe’s Southwest Grill and New Asia House. The seller and sales price were not disclosed.

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Hilton-Garden-Inn-Riverhad-New-York
DevelopmentHospitalityNew YorkNortheast

Bradford Allen Completes Renovation of 114-Room Hotel in Riverhead, New York

by Taylor Williams

RIVERHEAD, N.Y. — Chicago-based investment firm Bradford Allen has completed the renovation of the 114-room Hilton Garden Inn Riverhead hotel on Long Island. Renovations included refreshed guestrooms with new beds, bedding, carpet, bathrooms and furniture, as well as the addition of Peloton bikes to select rooms. The lobby, lounge area and front desk all received new flooring, furniture, accents and lighting, while meeting and event spaces were revamped with new carpet, paint, lighting and audio/visual equipment. The project team also added new public restrooms and improved the lobby bar, restaurant and patio. Bradford Allen acquired the hotel in late 2023 and began renovations thereafter.

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One-Dekalb-White-Plains
AcquisitionsMultifamilyNew YorkNortheast

IPA Negotiates Sale of 76-Unit Apartment Complex in White Plains, New York

by Taylor Williams

WHITE PLAINS, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of One Dekalb, a 76-unit apartment complex located north of New York City in White Plains. The property was built in 2019 and offers amenities such as a rooftop terrace, resident lounges and coworking spaces. According to Apartments.com, units come in studio, one- and two-bedroom floor plans. Victor Nolletti, Wes Klockner and Ross Friedel of IPA represented the undisclosed seller in the transaction and procured the buyer, Benchmark Real Estate Group. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers $10M Sale of Retail Center in Pennsauken, New Jersey

by Taylor Williams

PENNSAUKEN, N.J. — Marcus & Millichap has brokered the $10 million sale of Saigon Plaza, an 44,490-square-foot retail center in Pennsauken, located just outside of Philadelphia in Southern New Jersey. The center was built on 4.4 acres in 2008 and is anchored by Sun Seng Supermarket. Mark Krantz and Derrick Dougherty of Marcus & Millichap represented the seller, which also operates the ethnic grocery store, in the transaction. The buyer was not disclosed.

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CivicLeasing ActivityNew YorkNortheastOffice

NYU Signs 1 MSF Lease at 770 Broadway in Lower Manhattan

by Taylor Williams

NEW YORK CITY — New York University (NYU) has signed a long-term lease for more than 1 million square feet at 770 Broadway in Lower Manhattan. The 1.1 million-square-foot building is adjacent to the university’s campus and is currently home to a number of tenants that occupy about half the space, and NYU plans to assume the existing leases of these users. Grocer Wegman’s will remain a tenant within the building’s retail space. The first stage of NYU’s programming for 770 Broadway will involve the conversion of vacant floors to science and technology uses, including laboratories, classrooms and workstations, as a means of consolidating faculty and research initiatives under a single collaboration hub. Law firm Fried Frank advised NYU on the transaction, which the academic institution estimates will reduce rental expenses by more than $800 million over the first 30 years.

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The-Parker-East-East-Rutherford-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Vango Development Breaks Ground on 86-Unit Multifamily Project in East Rutherford, New Jersey

by Taylor Williams

EAST RUTHERFORD, N.J. — Vango Development has broken ground on The Parker East, an 86-unit multifamily project located outside of New York City in East Rutherford. The Parker East will offer one- and two-bedroom units that will be furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a fitness center, lounge and clubroom, breakout work areas, a dog spa, rooftop terrace and a central courtyard. MHS Architecture designed the project, and Coli Construction is the general contractor. ConnectOneBank provided a $25 million loan for the construction of The Parker East, which is expected to be complete next summer.

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288-E.-88th-St.-Manhattan
DevelopmentMultifamilyNew YorkNortheast

Alchemy-ABR Investment Partners Tops Out 45-Unit Apartment Building in Manhattan

by Taylor Williams

NEW YORK CITY — Alchemy-ABR Investment Partners has topped out a 45-unit apartment building at 288 E. 88th St. on Manhattan’s Upper East Side. Designed by Hill West Architects, the 24-story, 350-foot building will ultimately house 45 residences and offer amenities such as a fitness center, a multipurpose sports court, children’s playroom, media/gaming room, coworking space and a rooftop terrace. Leeding Builders Group is serving as the general contractor for the project, which is expected to open to residents next year.

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