Tuesday, June 3, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

2750-Hartford-Ave-Johnston-RI
NortheastRetailRhode Island

New England Retail Properties Sells Tractor Supply and O’Reilly Auto Property in Rhode Island for $7M

by Amy Works

JOHNSTON, R.I. — Wethersfield, Conn.-based New England Retail Properties (NERP) has completed the sale of a retail property located at 2750 Hartford Ave. in Johnston. A combination of groups led by the Columbia Delaware Trust acquired the Tractor Supply/O’Reilly Auto property for slightly more than $7 million. NERP acquired and developed the Tractor Supply store in 2013 and constructed the O’Reilly Auto property in 2016. Matthew Darling of New England Retail Properties represented the seller and buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
21-E-12th-St-NYC
MultifamilyNew YorkNortheast

CNY Construction Tops Out 22-Story Apartment Building in Manhattan

by Amy Works

NEW YORK CITY — CNY Construction, as general contractor, has topped out 21 East 12th, a 22-story apartment building being developed by William Macklowe Co. and Goldman Sachs. Located in Manhattan’s Greenwich Village, the building will feature 51 one-, two-, three- and four-bedroom units, a residents’ lounge, fitness room and garden. Additionally, the property will feature 19,487 square feet of retail space. The project team consists of SLCE Architects and Selldorf Architects. Completion is slated for fourth quarter 2018.

Continue Reading
FacebookTwitterLinkedinEmail
Cornerstone-Toms-River-NJ
MultifamilyNew JerseyNortheastSeniors Housing

Walters Group Opens 102-Unit Age-Restricted Community in New Jersey

by Amy Works

TOMS RIVER, N.J. — The Walters Group has opened Cornerstone at Toms River, a 102-unit active adult community in Toms River, approximately 60 miles south of New York City. A grand opening was held Sept. 14 for the community, which is restricted to residents over the age of 55. The Walters Group developed the three-story property. Cornerstone at Toms River also features income-restricted units, and gives residency priority to seniors whose homes were impacted by Superstorm Sandy.

Continue Reading
FacebookTwitterLinkedinEmail
Market ReportsNew YorkNortheastNortheast Market ReportsRetail

Online Retailers Find Success With Omni-channel Efforts in New York City

by Taylor Williams

As America’s brick-and-mortar retail sector continues to come to grips with the impact of e-commerce on its long-term future, it is worthwhile to track the progress of the growing number of retailers who have chosen to step away from a web-only platform. These retailers are establishing an omni-channel presence by setting up operations in physical stores, and many are showing signs of success. Many such retailers are choosing to set up shop along the streets of New York City, with its massive and steadily growing population and its broad demographic mix. Despite the recent, well-publicized increase in the city’s available inventory of retail space, New York City remains the preferred market to launch a brand with aspirations of building a meaningful national profile. Considering the more-youthful and trendy profile of a large proportion of online shoppers, these “adding-bricks-to-our-clicks” companies are gravitating toward New York City submarkets that deliver this coveted, younger demographic. Moreover, e-commerce players possess a ton of data profiling their customers — including their buying behavior and their browsing interests and habits — and retailers tap this intelligence when making decisions about where to locate stores as well as how they should be merchandised to best cater to …

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyNew JerseyNortheastTop Stories

Kushner Acquires 1,032-Unit Apartment Community Near Princeton for $190M

by Taylor Williams

PLAINSBORO, N.J. — New York-based development and management firm Kushner has acquired Quail Ridge Apartments, a 1,032-unit multifamily community located in Plainsboro, roughly midway between Philadelphia and New York City, for $190 million. The garden-style property is situated on 52 acres at 2005 Quail Ridge Drive, approximately six miles from Princeton University. Amenities include two pools, basketball and tennis courts, a playground, 24-hour fitness center and an on-site dog park. American International Group Inc. (AIG) provided acquisition financing for the transaction. The sale is in line with Kushner’s larger strategy of acquiring multifamily properties with high investment potential. Most recently, Kushner closed on the $520 million purchase of a portfolio of 5,517 multifamily units in Maryland. The company says it will continue to target similar investment opportunities throughout the Northeast and Mid-Atlantic areas. “Quail Ridge presents an outstanding opportunity to continue the expansion of our multifamily portfolio while helping to improve an already-great community,” says Laurent Morali, president of Kushner. “It reflects our strategy of vigorously pursuing investment where we see significant value.” Kushner’s recent acquisition activity also includes The Watchtower, an 830,000-square-foot property in Brooklyn that it plans to convert into a corporate campus, as well as 203,000 square …

Continue Reading
FacebookTwitterLinkedinEmail
400-402-Foulk-Rd-Wilmington-DE
DelawareMultifamilyNortheast

HFF Facilitates Sale of 301-Unit Multifamily Property in Wilmington, Delaware

by Amy Works

WILMINGTON, DEL. — HFF has brokered the sale of Brandywine Hundred Apartments, a multifamily property located at 400 and 402 Foulk Road in the Brandywine Hundred neighborhood of Wilmington. A joint venture between CenterSquare Investment Management and Korman Residential Properties sold the property to a regional private buyer for an undisclosed price. Situated on 10.6 acres, the property features units averaging 946 square feet, a swimming pool with sundeck, tennis courts, a fitness center with televisions, a resident lounge with Wi-Fi, a business center and covered parking. Mark Thomson, Jose Cruz, Carl Feibig and Francis Coyne of HFF, along with Robert Stella of Financial Consulting Services, represented the seller in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
201-Neelytown-Rd-Montgomery-NY
IndustrialNew YorkNortheast

GTJ REIT Acquires 248,370 SF Industrial Building in Montgomery, New York

by Amy Works

MONTGOMERY, N.Y. — GJT REIT has purchased an industrial building located at 201 Neelytown Road in Montgomery for an undisclosed price. Situated on 43 acres, the 248,370-square-foot distribution facility is leased to FedEx Ground on a 10-year term. GTJ REIT now owns 49 properties, totaling approximately 6 million square feet, in the Tri-State area. The name of the seller was not released.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLoansMassachusettsNortheast

Valencia Realty Capital Arranges $4.5M in Acquisition Financing for Warehouse Facility in Newburyport, Massachusetts

by Amy Works

NEWBURYPORT, MASS. — Valencia Realty Capital has arranged $4.5 million in acquisition financing for a cold-storage warehouse facility in Newburyport. The financing covers nearly 100 percent of the acquisition cost. The undisclosed borrower acquired the vacant 89,000-square-foot facility, located at 2 Opportunity Way, from a national REIT. Built in 1994 and expanded in 2008, the property features 26-foot clearance heights and approximately 14 percent of the building is office space. Stephen Smeke of Valencia secured the financing from a commercial lender for the borrower.

Continue Reading
FacebookTwitterLinkedinEmail
Residences-Fairmont-Station-Hyde-Park-Boston
Affordable HousingLoansMassachusettsMultifamilyNortheast

MassHousing Provides $2.1M in Financing for Affordable Housing Community in Boston

by Amy Works

BOSTON — Massachusetts Housing Finance Agency (MassHousing) has provided $2.1 million in financing to Traggorth Cos. and Southwest Boston Community Development for the construction of Residences at Fairmont Station in Boston’s Hyde Park. Located at 11 Nott St., the community will feature 27 apartments for low- and moderate-income households. MassHousing is providing a $1.8 million permanent loan and $300,000 through the agency’s $100 million Workforce Housing Initiative. The community will feature one studio unit, three one-bedroom units, 18 two-bedroom units and five three-bedroom units, as well as a community room, green space and an outdoor play area. Of the 27 units, six will be for low-income households earning at or below 30 percent of the area median income (AMI) supported by a federal Section 8 Housing Assistance Payment Contract, five will be for households with incomes at or below 50 percent of AMI, 13 will be for households with incomes at or below 60 percent AMI, and three will be workforce housing units for households earning at or below 80 percent AMI. The project is also receiving financing from the city of Boston, and the Massachusetts Department of Housing and Community Development as well as an allocation of Low-Income Housing Tax …

Continue Reading
FacebookTwitterLinkedinEmail
55-Wildcat-Dr-Linden-NJ
IndustrialNew JerseyNortheast

Colliers Arranges 181,000 SF Industrial Lease for ASA Apple in Linden, New Jersey

by Amy Works

LINDEN, N.J. — Colliers International has arranged a 181,000-square-foot industrial lease for ASA Apple in Linden. The transportation and logistics solutions company has signed a long-term lease for the industrial building located at 55 Wildcat Drive. ASA Apple is a public warehouse and intermodal transportation company operating in the Port of New York region. Richard Mirliss, Richard Madison and Alex Vitro of Colliers represented ASA Apple, while Tom Monahan of CBRE represented the property owner, Prologis.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts