Northeast

NAI Mertz Brokers Two Office Leases in Cherry Hill, New Jersey, Totaling 29,050 SF

by Amy Works November 9, 2016

CHERRY HILL, N.J. — NAI Mertz has arranged two office leases at the 102,591-square-foot Two Executive Campus in Cherry Hill totaling 29,050 square feet. In the first deal, Newspaper Media Group signed a lease for 15,127 square feet of space. The company recently acquired Greater Media Newspapers. In the second transaction, an undisclosed tenant leased 12,923 square feet at the building. Rebecca Ting and Julie Kronfeld of NAI Mertz represented the ownership, 1930 NMT Owner LLC, in the transactions.

November 9, 2016

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Massachusetts Northeast Office

Margulies Perruzzi Architects Completes Design of 40,000 SF Office Headquarters in Massachusetts

by Amy Works November 9, 2016

NEWTON LOWER FALLS, MASS. — Margulies Perruzzi Architects (MPA) has completed the design and renovation of the headquarters for National Development in Newton Lower Falls. National Development and its construction affiliate, Cranshaw Construction, currently occupy all four floors of 2310 Washington St. MPA provided space planning and interior design services for the 40,000-square-foot property. The project included updating the office design and relocating amenities to create an open, modern and collaborative space for staff. Cranshaw Construction served as construction manager for the project.

November 9, 2016

Connecticut Industrial Northeast Office

O,R&L Commercial Brokers 8,000 SF R&D/Flex Space in Branford, Connecticut

by Amy Works November 9, 2016

BRANFORD, CONN. — O,R&L Commercial has completed a long-term lease for 8,000 square feet of R&D and flex space, located at 4 Pin Oak Drive in Branford. Saphlux LLC will expand its research and development operations in the newly constructed facility. Rich Lee of O,R&L Commercial represented the landlord, Plato Associates, while Rich Guralnick, also of O,R&L Commercial, represented the tenant in the lease.

November 9, 2016

Multifamily Northeast Office Pennsylvania

Coretrust Capital Partners Buys Controlling Interest of Office Portion of Two Liberty Place in Philadelphia

by Amy Works November 8, 2016

PHILADELPHIA — An affiliate of Coretrust Capital Partners has acquired controlling interests in Two Liberty Place, an office and residential tower located in Philadelphia’s Center City, for an undisclosed price. Coretrust Capital Partners will own the 940,000-square-foot office portion, floors one to 37, of the property. The 57-story tower features 1.2 million square feet of office and residential condominium space. The office space is currently 89 percent leased to Cigna, Buchanan Ingersoll & Rooney and Eckert Seamans. Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE Capital Markets represented the undisclosed selling partnership in the deal.

November 8, 2016

Massachusetts Multifamily Northeast Seniors Housing

Blueprint Brokers $4M Sale of 123-Bed Skilled Nursing Facility in Massachusetts

by Amy Works November 8, 2016

NEW BEDFORD, MASS. — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage, has arranged the sale of Southeast Massachusetts Health & Rehabilitation Center for $4 million. The 123-bed skilled nursing facility is located in New Bedford, approximately 60 miles south of Boston. A New York-based national owner sold the facility to a regional owner-operator with an existing presence in that part of the state. The facility was 79 percent occupied at the time of sale. Steve Thomes and Christopher Hyldahl of Blueprint were lead advisors on the transaction.

November 8, 2016

Northeast Office Pennsylvania

CBRE Arranges $7.5M Sale of Office Property in Horsham, Pennsylvania

by Amy Works November 8, 2016

HORSHAM, PA. — CBRE has brokered the sale of a Citizens Bank property, located at 822 Welsh Road in Horsham. An undisclosed buyer acquired the 3,500-square-foot asset for $7.5 million. Marc Mandel, Matthew Gorman and Michael Shover of CBRE represented the undisclosed seller in the deal. Citizens Bank currently has 15 years remaining on its long-term ground lease of the property.

November 8, 2016

Multifamily New York Northeast

Adam Gordon Holdings, Tavros Development Complete Eight-Unit Condo Building in Manhattan

by Amy Works November 8, 2016

NEW YORK CITY — Adam Gordon Holdings and Tavros Development have completed 560 West 24th, a for-sale condominium building located at 560 W. 24th St. in Manhattan’s West Chelsea neighborhood. Designed by Montroy Andersen DeMarco and Steven Harris Architects, the 11-story, 40,000-square-foot building features six 3,200-square-foot, four-bedroom residences and two duplex penthouses. The residential units range from 3,200 to 6,000 square feet and feature outdoor spaces, including balconies and large terraces in the duplexes. Additionally, the ground floor features a lobby and the main exhibit floor of C24 Gallery, a two-story, 4,500-square-foot art gallery space.

November 8, 2016

New Jersey Northeast Retail

Marcus & Milichap Closes $1.5M Sale of Retail Property in Marlton, New Jersey

by Amy Works November 8, 2016

MARLTON, N.J. — Marcus & Millichap has arranged the sale of a retail property located in Marlton. A private investor acquired the 8,110-square-foot property for an undisclosed price. Michael Lombardi of Marcus & Millichap represented the seller, a private investor, and the buyer in the deal.

November 8, 2016

Massachusetts Northeast Office

Margulies Perruzzi Architects Completes Design of 40,000 SF Office Headquarters in Massachusetts

by Amy Works November 8, 2016

November 8, 2016

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Forecast Survey: What’s Your Take on Real Estate in 2017?

by John Nelson November 8, 2016

REBusinessOnline.com is conducting a brief online survey of brokers, lenders and the owner/developer/manager community to gauge market expectations for 2017, and we welcome your participation. This survey should only take a few minutes to complete. The results will appear as a news feature story in the January 2017 issues of the regional publications. Questions cover a variety of topics, ranging from the outlook for investment sales and leasing activity in 2017 to development and lending opportunities to interest rates. Note: We prefer to attribute comments we quote from open-ended responses, however you may respond anonymously if you prefer. To take our 2017 broker survey, please click here To take our 2017 developer/owner/manager survey, please click here To take our 2017 lender survey, please click here Thanks for your participation! Matt Valley Editorial Director of Regional Real Estate Publications France Media, Inc.

November 8, 2016

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