Sunday, July 27, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

Styertowne-Shopping-Center
AcquisitionsNew JerseyNortheastRetail

Cronheim Mortgage Arranges $20M Loan for Refinancing of Northern New Jersey Shopping Center

by Taylor Williams

CLIFTON, N.J. — Locally based financial intermediary Cronheim Mortgage has arranged a $20 million loan for the refinancing of Styertowne Shopping Center, a 236,000-square-foot retail property located in the Northern New Jersey community of Clifton. Stew Leonard’s Farm Fresh Food & Wine anchors the center, which was originally built in 1949. Other tenants include Michaels, Planet Fitness, Dollar Tree and GNC. Andrew Stewart, Dev Morris and Brandon Szwalbenest of Cronheim arranged the 10-year loan through Reinsurance Group of America on behalf of the undisclosed borrower.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNew JerseyNortheastOffice

JLL Negotiates $14.7M Sale of Coastal New Jersey Office Building

by Taylor Williams

TINTON FALLS, N.J. — JLL has negotiated the $14.7 million sale of a 90,008-square-foot office building located at 100 Tormee Drive in the coastal New Jersey community of Tinton Falls. The two-story building was constructed on 8.6 acres in 2001 and was fully leased at the time of sale to Hackensack Meridian Health and Opentext. Jeremy Neuer and Jose Cruz of JLL represented the undisclosed seller in the transaction and procured the buyer, Rockford Holdings.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityNortheastPennsylvania

Marcus & Millichap Brokers Sale of 69-Room Hotel in Pittsburgh

by Taylor Williams

PITTSBURGH — Marcus & Millichap has brokered the sale of the 69-room Hampton Inn Pittsburgh/West Mifflin hotel. Built in 1997 and renovated in 2018, the hotel is located about eight miles south of the downtown area and offers amenities such as an outdoor pool, fitness center and a business center. Alexandre Duong and Kevin Laureno of Marcus & Millichap represented the seller, Seaview Hospitality, in the auction sale. The duo, along with Adam Sklaver and Philip Kates of Marcus & Millichap, also secured the private buyer.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNortheastPennsylvaniaRetail

GIANT to Open 50,000 SF Grocery Store at Andorra Shopping Center in Philadelphia

by Taylor Williams

PHILADELPHIA — Grocery chain GIANT will open a 50,000-square-foot store at Andorra Shopping Center in Philadelphia. The center’s owner, Federal Realty Investment Trust, will develop the grocery space from the ground up beginning next year and also reposition 30,000 square feet of existing retail space. The two projects represent a combined investment of $25 million. Repositioning plans include the addition of landscaped plazas, outdoor dining and curbside pick-up spaces as well as expanded sidewalks.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew JerseyNortheastOffice

Sumitomo Mitsui Trust Bank Signs 30,000 SF Office Lease in Hoboken

by Taylor Williams

HOBOKEN, N.J. — Sumitomo Mitsui Trust Bank has signed a 30,000-square-foot office lease in Hoboken. The affiliate of the Japanese lender is taking space on the ninth floor of Building 1 at Waterfront Corporate Center, a 1.5 million-square-foot complex owned by New York City-based SJP Properties. Harrison Russell of Newmark represented the tenant in the lease negotiations.

Continue Reading
FacebookTwitterLinkedinEmail
737-Fourth-Avenue-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

Partnership Tops Out 14-Story Mixed-Income Multifamily Project in Brooklyn

by Taylor Williams

NEW YORK CITY — A partnership between BEB Capital, Totem, Ofer Cohen and SK Development has topped out a 14-story, 187-unit mixed-income multifamily project at 737 Fourth Ave. in Brooklyn’s Sunset Park neighborhood. Valued at $143 million, the property will house one-, two- and three-bedroom units, with 46 residences to be reserved for households earning roughly 50 percent or less of the area median income. The building will also feature a fitness center, game and media lounge, coworking lounge, private dining and entertainment areas, tenant storage space and a rooftop garden, as well as 6,200 square feet of ground-floor retail space. Completion is slated for fall 2025. Financing for the project consisted of a $96 million construction loan that was co-originated by Canyon Partners and J.P. Morgan and a $25 million equity investment from Tribeca Investment Group.

Continue Reading
FacebookTwitterLinkedinEmail
Park-&-Arbor-Old-Tappan-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Hornrock Properties Begins Leasing 110-Unit Multifamily Project in Old Tappan, New Jersey

by Taylor Williams

OLD TAPPAN, N.J. — Locally based developer Hornrock Properties has begun leasing Park & Arbor, a 110-unit multifamily project in Old Tappan, located on the New York-New Jersey border. The property houses one-, two- and three-bedroom units and 21,000 square feet of retail and restaurant space. Indoor amenities include a fitness center, café, conference rooms, package lockers, children’s playroom and a clubroom/speakeasy with a bar, arcade, card table and billiards. Outside, residents have access to a pool, grilling and dining areas, multiple gardens/courtyards, putting green, pet walking area and a bocce ball court. Information on starting rents was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNew JerseyNortheastSelf-Storage

Matthews Negotiates $10.3M Sale of Central New Jersey Self-Storage Facility

by Taylor Williams

MILLSTONE, N.J. — California-based brokerage firm Matthews Real Estate Investment Services has arranged the $10.3 million sale of a self-storage facility in the Central New Jersey community of Millstone. CubeSmart operates the facility, which was built in phases on a 10-plus acre site between 2021 and 2023. The property totals 59,605 net rentable square feet across 488 units (340 climate-controlled and 148 non-climate-controlled). Milton Braasch II, Ben Tracy and Simon Assaf of Matthews represented the undisclosed seller/original developer in the transaction. The buyer was also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsLee & AssociatesMultifamilyNew YorkNortheast

Lee & Associates Brokers $6.8M Sale of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Lee & Associates has brokered the $6.8 million sale of a 37-unit apartment building in the Brooklyn Heights neighborhood. The six-story, rent-stabilized building at 75 Pierrepont St. consists of 25 one-bedroom apartments and 12 studios that were fully occupied at the time of sale. Thomas Gammino and Patrick Donahue of Lee & Associates represented the buyer and seller, both of which requested anonymity, in the transaction. The deal traded at a cap rate of 6.2 percent. The deal traded at a cap rate of 6.2 percent.

Continue Reading
FacebookTwitterLinkedinEmail
ConnecticutDevelopmentLeasing ActivityNortheastOffice

Robinson + Cole Opens 75,000 SF Office in Downtown Hartford

by Taylor Williams

HARTFORD, CONN. — Law firm Robinson + Cole has opened a new, 75,000-square-foot office at One State Street in downtown Hartford. One State Street, which is owned by Houston-based Hines, overlooks the Connecticut River, and the 24-story, 500,000-square-foot building offers multiple outdoor-based amenities. Washington, D.C.-based architecture firm Studio Alliance designed the space to feature energy-generating glass offices, collaboration spaces to support teams from two to 30 and a focus on exposure to natural lighting throughout. General contractor Pavarini Northeast handled the build-out.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts