Northeast

PCCP Provides $66M Loan for 105-Unit Multifamily Property in Midtown Manhattan

by Amy Works February 3, 2017

NEW YORK CITY — PCCP has provided a $66 million senior loan to Coral Realty for the recapitalization and lease-up of Theater House, a newly developed apartment tower located at 237 E. 34th St. in the Kips Bay submarket of Midtown Manhattan. The 25-story property is 99 percent complete with move-in slated for March. Theater House features 105 units in studio, one- and two-bedroom layouts, 7,000 square feet of indoor and outdoor communal space, a 24/7 gym facility and a 24/7 doorman. Coral Realty is a privately owned real estate firm focused on developing residential units in New York City and Florida.

February 3, 2017

Loans Northeast Pennsylvania Retail

HFF Arranges Financing for Retail Center in Philadelphia’s Center City

by Amy Works February 3, 2017

PHILADELPHIA — HFF has arranged permanent financing for the retail portion of Rodin Square, a 79,233-square-foot newly built mixed-use property in Philadelphia’s Center City. Ryan Ade, Chris Munley and Mark West of HFF secured the 20-year, fixed-rate loan through Principal Real Estate Investors for the borrower, a partnership between Rodin Group and Benenson Capital Partners. Whole Foods Market anchored the property, which is situated on 2.9 acres at 501 N. 22 St. Additional tenants include Thomas Jefferson Hospital, CVS/pharmacy and Santander Bank.

February 3, 2017

Industrial New Jersey Northeast

NAI Hanson Arranges Sale of 26,000 SF Industrial Building in South Hackensack, New Jersey

by Amy Works February 3, 2017

SOUTH HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of an industrial building located at 262 Green St. in South Hackensack. Alan Party Rental acquired the 26,000-square-foot building from A&E Green Realty, Rosemont Court Associates and Dody Road Associates for an undisclosed price. The freestanding building features 2,500 square feet of office space, 40 parking spaces, two tailgates and one drive-in door. Jeff DeMagistris and Thomas Vetter of NAI Hanson represented the sellers in the deal.

February 3, 2017

Loans Massachusetts Multifamily Northeast

NorthMarq Secures $2.3M in Refinancing for Seven-Property Multifamily Portfolio in Massachusetts

by Amy Works February 3, 2017

DOUGLAS AND WHITINSVILLE, MASS. — NorthMarq Capital has finalized $2.3 million in refinancing for a portfolio of multifamily properties. The firm secured a $1 million in refinancing for four properties in Douglas: 347, 349, 353 and 355 Main Street. Additionally, NorthMarq arranged $1.3 million in refinancing for three properties in Whitinsville: 258-260 Church Street, 87 East Street and 87.5 East Street. The seven-property portfolio features 41 apartment units. The transaction was structured with a 10-year term on a 30-year amortization schedule. Ed Riekstins of NorthMarq arranged the financing through its seller/servicer relationship with Freddie Mac for the undisclosed borrower.

February 3, 2017

Industrial Northeast Pennsylvania

LBP Manufacturing Signs 101,935 SF Industrial Lease in Jessup, Pennsylvania

by Amy Works February 3, 2017

JESSUP, PA. — LBP Manufacturing has signed a lease for 101,935 square feet of industrial space at 7 Alberigi Drive in Jessup. The national food packaging manufacturer will occupy space at Endurance Real Estate Group’s three-building I-81/NEPA Bulk-Industrial Portfolio. Daniel Walsh and Gerry Blinebury of Cushman & Wakefield represented the landlord, an affiliate of Endurance, while Jason Webb, Lee Fittipaldi and Kris Bjorson of JLL represented the tenant in the deal.

February 3, 2017

Northeast Pennsylvania Retail

Phillips Edison Acquires Retail Center in Lehigh Valley for $32.3M

by Amy Works February 2, 2017

EASTON, PA. — Phillips Edison has acquired Palmer Town Centre, a shopping center located in Easton, for $32.3 million. Anchored by Giant Foods Supermarket and Marshalls, the property offers 153,085 square feet of retail space. Colliers International represented the seller, Los Angeles-based The Festival Cos., in the deal.

February 2, 2017

Industrial New Jersey Northeast

Endurance, Thackeray Partners Acquire 305,250 SF Warehouse Facility in Mount Laurel, New Jersey

by Amy Works February 2, 2017

MOUNT LAUREL, N.J. — An affiliate of Endurance Real Estate Group and Thackeray Partners have purchased a warehouse and distribution facility located at 2000 Bishop Gate Blvd. in Mount Laurel. An undisclosed corporate user sold the 305,250-square-foot property for an undisclosed price. The property features 30-foot clear ceiling heights, 25 dock-high loading doors, an ESFR sprinkler system and Comcast fiber service. CBRE represented the seller in the transaction.

February 2, 2017

Multifamily Northeast Rhode Island

CBRE/NE Negotiates Sale of 85-Unit Apartment Building in Rhode Island

by Amy Works February 2, 2017

PROVIDENCE, R.I. — CBRE/New England has arranged the sale of Grant Mill, an apartment building located in Providence. Brady Sullivan Rhode Island Properties sold the 85-unit building to an affiliate of Heritage Properties for an undisclosed price. Converted from a mill building into an apartment property in 2009, Grant Mill features 85 units in a mix of one-, two- and three-bedroom units, a community room with billiards, fitness center, media room, resident storage, 111 surface parking spaces and 28 garage parking spaces. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the deal.

February 2, 2017

New York Northeast Office

Royal Bank of Canada Renews 400,000 SF Office Lease in Lower Manhattan

by Amy Works February 2, 2017

NEW YORK CITY — Royal Bank of Canada has renewed its 400,000-square-foot lease of office space at 200 Vesey Street at Brookfield Place New York in Lower Manhattan. RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, will continue to occupy floors 6 (partial), 8-12, 14 and 25 (partial) at the 51-story office tower until 2032. Bruce Mosler, Ethan Silverstein, Dale Schlather, Al Edwards, John Bestill and Chuck Scott of Cushman & Wakefield represented the tenant. The landlord, Brookfield Properties, was represented in-house.

February 2, 2017

Northeast Pennsylvania Retail

Bennett Williams Commercial Arranges Sale of 70,692 SF Retail Center in East Hempfield, Pennsylvania

by Amy Works February 2, 2017

EAST HEMPFIELD, PA. — Bennett Williams Commercial has brokered the sale of Wheatland Shopping Center, a retail center located at 1761-1835 Columbia Ave. in East Hempfield. Nico Wheatland LLC acquired the 70,692-square-foot property from Homewood Realty for an undisclosed price. Chad Stine and Brad Rohrbaugh of Bennett Williams Commercial represented the buyer, while Stine, Rohrbaugh and Gary Russell of Bennett Williams represented the seller in the deal.

February 2, 2017

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