HEMPFIELD TOWNSHIP, PA. — CBL Properties, in partnership with Stadium Casino LLC, has unveiled plans to develop a 100,000-square-foot casino and entertainment complex at CBL’s Westmoreland Mall in Hempfield Township. Stadium Casino LLC is a joint venture between The Cordish Cos. and Greenwood Gaming & Entertainment. The new casino will backfill space currently occupied by Bon-Ton, which will close in early August. The project, which is expected to create 600 jobs, is subject to the review and approval of the Pennsylvania Gaming Control Board. A construction timeline will be released upon approval.
NEW YORK CITY — Fisher Brothers has signed Deluxe Financial Services to a 21,229-square-foot lease at 605 Third Ave., a 1.1 million square-foot office tower in Manhattan. The financial services provider will occupy the entire 37th floor of the building. Ryan Tibbits and Harry Krausman of Cushman & Wakefield represented Deluxe Financial Services in the transaction. Since completing a $25 million capital improvement program at 605 Third Ave., Fisher Brothers has executed 280,000 square feet of leases at the tower. Originally built by Fisher Brothers in 1963, the 44-story building is certified LEED Gold by the U.S. Green Building Council with a tenant roster that includes Univision, AECOM, David Hutcher & Citron LLP and the United Nations Population Fund.
NEW YORK CITY — Mission Capital Advisors has secured $21 million in non-recourse acquisition and construction financing for a luxury, six-unit condo conversion in the Chelsea neighborhood of Manhattan. Located at 214-216 W. 15th St., the property is a former nursery school. Once completed, the residences will feature 10-foot ceilings, private balconies, and modern kitchens. Raymond Salameh, Ari Hirt, Steven Buchwald, and Lexington Henn of Mission Capital represented developer Holliswood Development in securing financing from a Philadelphia-based debt fund. Terms of the financing were not disclosed.
NEW YORK CITY — Ariel Property Advisors has negotiated the $15.9 million sale of a 71-unit multifamily portfolio in the Flatbush neighborhood of Brooklyn. The portfolio is made up of nine buildings and spans 79,932 square feet. Victor Sozio, Alexander McGee and Michael A. Tortorici of Ariel Property Advisors represented the undisclosed seller in the transaction. The buyer was also undisclosed. The properties in the portfolio are located at 90-92 E. 18th St.; 25 E. 21st St.; 369 E. 21st St.; 600 E. 22nd St.; 2102, 2108, 2112 and 2116 Regent Place; and 2322 Bedford Ave.
NEWARK, N.J. — Cushman & Wakefield has arranged the $7.2 million sale of a parking facility in downtown Newark. Located at 1160 Raymond Boulevard, the four-story garage can accommodate 357 vehicles. David Bernhaut, Andrew Merin, Gary Gabriel, Brian Whitmer, and Ryan Larkin of Cushman & Wakefield represented the sellers, Lincoln Equities Group and Welcome Parking. Edison Properties purchased the property.
HAVERTOWN, PA. — Marcus & Millichap has brokered the sale of a 2,735-square foot, retail property located at 800 N. Eagle Road in Havertown. The net-leased property, which was renovated in 2017, sold for $2.4 million or approximately $877 per square foot. Mark Taylor, Shannon Bona and Derrick Dougherty of Marcus & Millichap represented the seller, a partnership, in the transaction. The undisclosed buyer acquired the property as part of a 1031 exchange. The current tenants at the property are convenience store Swiss Farms and Tony Roni’s, a pizzeria.
LAKE GEORGE, N.Y. — Muroff Daigle Hospitality Group has orchestrated the sale of The Wingate by Wyndham – Lake George in Lake George. HELI IP LLC acquired the hotel for $7.3 million from seller Adirondack Lodging LLC. The Wingate opened in 2007 and includes 96 updated guestrooms and suites as well as an indoor and outdoor pool and fitness facility. Mitch Muroff of Muroff Daigle Hospitality Group represented the seller in the transaction.
WAYNE, N.J. — Axiom Capital Corp. has arranged a $20.5 million construction loan for the development of a 418,000-square-foot industrial facility in Wayne. The lender was a life insurance company. Once complete, the property will include 40-foot clear heights and 42 truck dock positions as well as 40,000 square feet of office space. The borrower was a private investor.
PHILADELPHIA — Binswanger has negotiated the sale of a 247,447-square-foot industrial facility in Philadelphia for $14.3 million. The Trustees of the University of Pennsylvania purchased the property, located at 3250 S. 76th St., from seller GMIP South 76thStreet LP. Chris Pennington of Binswanger represented the buyer in the transaction.
NEW YORK CITY — Besen & Associates has brokered the $7.8 million sale of 84 Second Avenue, a 4,812-square-foot, four-story, mixed-use building in Manhattan. The property is located in Manhattan’s East Village and consists of four apartments and two retail units. Amit Doshi, Ron Cohen, Shallini Mehra and Shlomo Gelernter of Besen represented the seller, who was undisclosed, in the transaction. The buyer was also undisclosed.