WAYNE, PA. — CBRE has negotiated a 38,572-square-foot office headquarters lease in Wayne, a western suburb of Philadelphia. The tenant is iPipeline, a software provider for the financial services and life insurance industries, and the space is located within the 200,000-square-foot, freshly renovated building at 1111 Old Eagle School Road. Scott Gabrielsen of CBRE represented the landlord, De Lage Landen Financial Services, in the lease negotiations. Mitch Reading of Tactix Real Estate Advisors represented the tenant.
CARNEYS POINT, N.J. — CBRE has arranged the sale of a 707,400-square-foot industrial development site in Carneys Point, located along the Delaware River in Southern New Jersey. Known as Salem Commerce Park, the site is fully approved for the development of three buildings on three separate parcels, and the sale included a 10-acre tract that houses a 78,000-square-foot vacant office building. An affiliate of local developer D2 Organization sold the property to another local entity, EQT Exeter, for an undisclosed price. Brian Fiumara and Brad Ruppel of CBRE brokered the deal.
SPRINGFIELD, MASS. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a 601-unit self-storage redevelopment project in the western Massachusetts city of Springfield. The project converted a historic former factory building in the downtown area into a facility with three interconnected buildings totaling 59,837 net rentable square feet of climate-controlled space. The facility also features drive-thru unit capability and a 24-hour security system.
HUNTINGTON, N.Y. — Marcus & Millichap has brokered the $8 million sale of a multifamily and retail property in the Long Island community of Huntington. The three-story, 11,000-square-foot property at 356 New York Ave., which was originally built in 1965 and renovated in 2021, comprises nine residential units and three retail spaces. Michael Tuccillo of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
VALLEY COTTAGE, N.Y. — National Ramp has signed a 109,450-square-foot industrial lease in Valley Cottage, about 30 miles north of New York City. The space is located within Lincoln Logistics Rockland, a distribution facility that features a clear height of 36 feet, 34 dock doors and parking for 123 cars and 41 trailers. James Panczykowski of JLL and Adam Petrillo of Newmark represented the landlord, a partnership between Lincoln Equities and PCCP LLC, in the lease negotiations. National Ramp was self-represented.
NEW YORK CITY — RD Management has subleased 17,363 square feet of office space at 1745 Broadway in Midtown Manhattan. The space spans part of the seventh floor of the 26-story, 780,525-square-foot building. Richard Bernstein, Adam Ardise, Stephen Bellwood, Lei-Lani Keelan and Troy Elias of Cushman & Wakefield represented the sublandlord, Penguin Random House, in the negotiations. Ben Shapiro, Bill Levitsky and Matt Augarten of Newmark represented RD Management. Invesco Real Estate owns 1745 Broadway.
EAST PROVIDENCE AND HOPE VALLEY, R.I. — JLL has arranged the sale of two self-storage facilities totaling 721 units in Rhode Island that are operated under the Go Store It brand. The properties are located at 3346 Pawtucket Ave. in East Providence and 1115 Main St. in Hope Valley and offer climate- and non-climate-controlled space. Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon of JLL represented the seller, a partnership between Madison Capital Group and affiliates of Cerberus Capital Management, in the transaction. Griffin Guthneck, also with JLL, led a team that arranged an undisclosed amount of acquisition financing for the purchase, which was part of a larger, 2,327-unit portfolio deal that included three facilities in Houston. The buyer was not disclosed.
NEW BRUNSWICK, N.J. — New Jersey-based developer AST has completed a 229,000-square-foot healthcare project in the Central New Jersey community of New Brunswick. The 15-story ambulatory medical pavilion is situated within the Robert Wood Johnson University Hospital campus. The facility, construction of which topped out in August 2022, expands outpatient access to care and clinical experts who support existing RWJBarnabas Health hospital services. Project partners included Jarmel Kizel (architect), O’Donnell & Naccarato (structural engineer), Langan (civil engineer) and Torcon Inc. (general contractor and construction manager).
MECHANICSBURG, PA. — Gannett Fleming TranSystems has signed a 100,000-square-foot office lease in Mechanicsburg, about 115 miles west of Philadelphia. The architecture, engineering and construction (AEC) consulting firm is consolidating and relocating from nearby Camp Hill to Sterling Place Corporate Center. Jeremy Shyk of CBRE represented the landlord, a partnership between Sterling Place Associates and Waterday Properties, in the lease negotiations. Mark Gola of Gola Corporate Real Estate represented the tenant.
EATONTOWN, N.J. — New York City-based Kushner Cos. has welcomed five food-and-beverage users and one retailer to Monmouth Square, a mixed-use redevelopment of the former Monmouth Mall in Eatontown. The tenants — Whole Foods Market, Prince Street Pizza, Cava, Van Leeuwen Ice Cream, Offshore Coffee and STRONG Pilates — account for about 50,000 square feet of new leasing activity, which makes the project’s retail component 75 percent preleased. Bond RP represented Kushner in all negotiations.