DALLAS, PA. — Local investment firm Sordoni Properties has purchased the former Offset Paperback factory in the northeastern Pennsylvania city of Dallas with plans to redevelop the historic industrial building. The sales price was $5.5 million. The 16-acre facility originally opened in 1948. Sordoni’s redevelopment will feature a supermarket, convenience store and restaurant, with fitness and medical uses also in consideration. Jeff Algatt of Colliers represented Sordoni in the transaction.
NEW YORK CITY — Tom Ford Fashion has signed a 10-year, 11,118-square-foot office lease in Midtown Manhattan. The provider of accessories and cosmetics products is taking space on the sixth floor of 500 Park Avenue, an 11-story, 201,000-square-foot building that is now fully leased. David Goldstein, Jarod Stern and Sam Mann of Savills represented the tenant in the lease negotiations. Frank Doyle, Cynthia Wasserberger and Michael Pallas of JLL represented the landlord, SL Green, which acquired the building last winter.
SALEM, N.H. — Simon Property Group has welcomed five new tenants to The Mall at Rockingham Park, a 1 million-square-foot shopping and dining destination located about 30 miles north of Boston in Salem. Women’s apparel retailer LOFT has already opened at the property, while Kendra Scott and OFFLINE by Aerie will open this fall. Caffe Nero and Five Below are expected to open this summer.
BELMONT, MASS. — The Hamilton Co., a privately held real estate investment and management firm based in Boston, has acquired Hill Estates, a 396-unit apartment community in Belmont. The original developer, the DiGiovanni family, sold the market-rate community for $175 million. Built by the DiGiovanni brothers — Silvio, Rocco, Joseph and Charles — in the 1960s, Hill Estates had been owned and managed by the family since its inception and hit the market for the first time as part of this transaction. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the DiGiovanni family and procured The Hamilton Co. in the transaction. KeyBank Real Estate Capital provided an undisclosed amount of acquisition financing. “For over 50 years, the DiGiovanni family had been great stewards of this legacy asset in one of the most desirable towns in the Boston metro,” says St. John. “While the DiGiovanni family has taken great care and pride in this asset, we anticipate that The Hamilton Co. will make substantial investments in the asset to modernize and amenitize the community.” Hill Estates is situated on a 14.7-acre site off Brighton Street in Belmont, which is located on the western border of Cambridge, …
LYNBROOK, N.Y. — Breslin Realty Development Corp. has begun leasing The Langdon, a 201-unit multifamily project in the Long Island community of Lynbrook. Located at 47 Broadway, The Langdon is a redevelopment of the former Mangrove Feather factory and consists of 55 studios, 111 one-bedroom units and 35 two-bedroom apartments, as well as 2,000 square feet of ground-floor retail space. Amenities include a lobby café, concierge services, rooftop terrace with skyline views, landscaped courtyard, resident lounge with billiards, a fitness center and work-from-home stations. Breslin developed the property in partnership with Fields Grade Development. Construction began in spring 2022. Rents start at approximately $3,000 per month for a studio apartment.
TAUNTON AND HAVERHILL, MASS. — Regional owner-operator Marcus Partners has sold a portfolio of two industrial buildings totaling 192,380 square feet in metro Boston. The sales price was $50 million. The portfolio consists of an 88,000-square-foot facility in Taunton, located south of Boston, and a 104,380-square-foot structure in Haverhill, a northern suburb of the state capital. Both buildings were fully leased at the time of sale. Chris Skeffington of CBRE represented Marcus Partners in the transaction. The buyer was a fund backed by Ares Real Estate.
NEW YORK CITY — Marcus & Millichap has brokered the $10.8 million sale of a 101-unit historic apartment building located in the Prospect-Lefferts Gardens neighborhood of Brooklyn. The six-story, elevator-served building at 275 Linden Blvd. was originally constructed in 1930. Information on floor plans and amenities was not disclosed. Shaun Riney and Daniel Greenblatt of Marcus & Millichap represented the undisclosed seller in the transaction. Seth Glasser, also with Marcus & Millichap, procured the buyer, a California-based family office.
WAYNE, N.J. — Locally based brokerage firm The Goldstein Group has arranged the sale of a 68,000-square-foot retail property the Northern New Jersey community of Wayne. The property is located at 465-479 U.S. Route 46 and comprises a 50,000-square-foot space that was formerly occupied by Bloomingdale’s Furniture and an 18,000-square-foot space leased to The Suit Store. C.J. Huter, Marc Palestina and Roy Paret of The Goldstein Group represented the seller, a group of limited liability companies, in the transaction. The buyer was an entity doing business as GCL Investment LLC.
NEW YORK CITY — Queen One has signed a 29,718-square-foot office lease in Brooklyn. The technology-driven networking and communications startup has committed to a 10-year term at 25 Kent, an eight-story, 500,000-square-foot building that was designed by Gensler and HWKN Architecture. Scott Bogetti and Will Demuth of Savills represented Queen One in the lease negotiations. Ryan Gessin, Will Grover and Jordan Gosin of Newmark, along with internal agents Craig Panzirer and Alex Radmin, represented the landlord, Global Holdings.
KEENE, N.H. AND GRAND RAPIDS, MICH. — C&S Wholesale Grocers, a New Hampshire-based food supplier whose brands include Piggly Wiggly and Grand Union, has agreed to acquire Michigan-based SpartanNash (NASDAQ: SPTN), owner of brands such as Our Family and Full Circle Market, in a merger valued at nearly $1.8 billion. The figure represents a purchase price of $26.90 per share of SpartanNash common stock in cash and includes the assumption of SpartanNash’s existing debt. The price marks a 52.5 percent premium over the company’s closing price of $17.64 per share on June 20 and a premium of 42 percent over the company’s 30-day volume-weighted average stock price as of that date. The merger, which has been unanimously approved by both companies’ boards of directors, is expected to close before the end of the year. Upon closing, the new company will operate more than 200 corporate-run grocery stores and almost 60 complementary distribution centers throughout the country. The distribution centers will supply more than 10,000 independent retail locations. “For our customers, this transaction creates the necessary scale, efficiency and purchasing power needed to enable independent retailers to compete more effectively with larger big box chains,” says Tony Sarsam, president and CEO …