NORWALK, CONN. — Wegmans Food Markets will open a 92,000-square-foot store at 675 Connecticut Ave. in Norwalk, located in southern coastal Connecticut. The regional grocer expects to employ about 500 people at the store at full operation. The location will be the first in Connecticut for Wegmans, which operates a total of 111 stores along the East Coast, and is scheduled to open next summer.
WALLKILL, N.Y. — JLL has negotiated the sale of a 92-acre industrial development site in Wallkill, about 75 miles north of New York City. The site at 350 Silverlake-Scotchtown Road is known locally as Golden Triangle and is fully approved for the development of roughly 835,000 square feet of product. Crow Holdings Development acquired the site with a two-phase plan to construct a facility that will be known as Golden Triangle Logistics Center. Phase I will total 535,603 square feet and feature a clear height of 36 feet, 88 dock doors and parking for 83 trailers and 422 trailers. Phase II will comprise 299,200 square feet and could include 38 dock doors and parking for 199 cars and 34 trailers. Rob Kossar and James Panczykowski of JLL represented the seller, New Jersey-based Vision Real Estate Partners, in the land deal. JLL has also been retained to lease the project, construction of which is slated to begin in the third quarter.
HAMILTON, N.J. — A partnership between New Jersey-based Saxum Real Estate and Meadow Partners, an investment firm with offices in New York and London, has purchased an 80,420-square-foot industrial flex building in Hamilton, located just outside of Trenton. The site at 1 Electronics Drive spans 16 acres, including land for future expansion. The building, which according to LoopNet Inc. was constructed in 1972 and renovated in 2000, includes 530 parking spaces and was 73 percent leased at the time of sale to three tenants. JLL represented the seller, BTR Capital Group, in the transaction and arranged the joint venture equity and acquisition financing for the deal. Zimmel Associates has been tapped as the leasing agent.
MILLVILLE, N.J. — New York-based investment and development firm Irgang Group has welcomed three new tenants at Union Lake Crossing, a 393,000-square-foot shopping center in the Southern New Jersey community of Millville. Bath & Body Works, AAA South Jersey and Jersey Mike’s have signed deals for 4,400, 1,945 and 1,500 square feet, respectively. Mario Brunelli and Chelsea Reizner of R.J. Brunelli & Co. represented the landlord in all lease negotiations. Reizner and Brunelli also represented AAA South Jersey. Jarrad Coletta of Coletta Commercial represented Jersey Mike’s, and Adam Rosenfarb of MSC represented Bath & Body Works. Irgang Group acquired Union Lake Crossing, which is now more than 99 percent leased, in late 2021.
WARMINSTER, PA. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $7.3 million loan for the refinancing of a 106-room hotel in Warminster, a northern suburb of Philadelphia. The hotel is operated under the Home2Suites by Hilton brand. Katie Vivian of Largo Capital originated the loan, which was structured with a five-year term and fixed interest rate, through an undisclosed life insurance company. The borrower was also not disclosed.
NATICK, MASS. — Design-build firm Dacon Corp. has completed a 7,400-square-foot industrial and life sciences expansion project in Natick, a western suburb of Boston. The project is a build-to-suit for Kula Bio, which specializes in the production of agricultural products that serve as replacements to synthetic fertilizers. The facility includes manufacturing, office and research-and-development space. Kula Bio initially opened its 7,500-square-foot headquarters in Natick in late 2021 with the expectation of expanding.
BentallGreenOak, RL Cold Break Ground on 215,766 SF Cold Storage Project in Mount Laurel, New Jersey
MOUNT LAUREL, N.J. — A joint venture between institutional investment firm BentallGreenOak and RL Cold has broken ground on a 215,766-square-foot cold storage project in Mount Laurel, an eastern suburb of Philadelphia. Greek Design|Build, an affiliate of regional owner-operator Greek Real Estate Partners, is handling construction of the project, which is being developed on a speculative basis. The facility will feature four variable compartments that can accommodate temperatures ranging from minus 10 to 55 degrees Fahrenheit, as well as a food inspection area, 27 dock positions, 5,000 square feet of mezzanine storage space and office space. A tentative completion date was not disclosed.
YONKERS, N.Y. — The Westchester County Local Development Corp. has approved $35 million in tax-exempt bond financing to fund various renovations at Sarah Lawrence College in Yonkers. The 44-acre liberal arts school was founded as a women’s learning institution in 1926 but became coeducational in 1968. The financing will cover renovation and rehabilitation of The Siegel Building, the performing arts center, the Bates Building and various athletic facilities. Proceeds would also be used to purchase and renovate the building at 8 Oak Bend, as well as to upgrade campus-wide information technology hardware, infrastructure, machinery, equipment and other items of personal property.
NEW YORK CITY — StubHub has subleased 100,000 square feet of office space at 4 World Trade Center in Lower Manhattan. The live event ticket marketplace operator, which signed a 44,000-square-foot office lease at 3 World Trade Center for its new headquarters in 2023, will take immediate occupancy of one floor and occupancy of two other floors at a later date. Scott Bogetti, Kirill Azovtsev, Michael Bertini, Brad Wolk and Will Joumas of Savills represented Stubhub in the sublease negotiations. Sheena Gohil of Colliers represented the undisclosed sublessor. Silverstein Properties owns the building.
BRANFORD, CONN. — Locally based brokerage firm O,R&L Commercial has negotiated the $7.2 million sale of Lockworks Square, a 35,600-square-foot shopping center in Branford, located in southern coastal Connecticut. The four-building center is located in the downtown area and is home to tenants such as SaltBrick Prime, Lockworks Tavern, Cheri’s Bakery, Digestive Disease Associates, Physical Therapy & Sports Medicine Centers and Branford Tech Team. Will Braun of O,R&L represented the seller and buyer, both of which requested anonymity, in the transaction.