Northeast

101-195-Franklin-Mills-Blvd-Philadelphia-PA

Benbrooke Sells 223,434 SF Retail Power Center in Philadelphia for $25.8M

by Amy Works August 26, 2016

PHILADELPHIA — Benbrooke has completed the disposition of Franklin Marketplace, a retail power center located at 101-195 Franklin Mills Blvd. in northeastern Philadelphia. PAG Investments acquired the asset free and clear of existing debt for $25.8 million. The 223,434-square-foot center was 88.6 percent leased to a variety of national and regional tenants, including Kaplan, Big Lots, Dollar Tree, Retro Fitness, Harbor Freight Tools and Citizens Bank. Chris Munley, Jose Cruz, Kevin O’Hearn and Michael DiCosimo of HFF represented the seller in the transaction.

August 26, 2016

Massachusetts Multifamily Northeast

CBRE/NE Negotiates Sale of 195-Unit Apartment Community in Suburban Boston

by Amy Works August 26, 2016

MALDEN, MASS. — CBRE/New England has brokered the sale of 480 Main Street, an infill apartment community located in Malden. Residence at Malden Square, an affiliate of Priderock Capital Partners, sold the 195-unit property to The DSF Group for an undisclosed price. The five-story property features 30 studios, 115 one-bedroom apartments and 50 two-bedroom units with an average unit size of 768 square feet. Additionally, the building features four retail suites totaling 7,599 square feet. The apartments are 100 percent market rate and the retail space is partially leased to a bakery and drop-off dry cleaning service. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the deal.

August 26, 2016

Loans Multifamily New York Northeast

Meridian Capital Arranges $17.9M in Construction Financing for Multifamily Property in Queens

by Amy Works August 26, 2016

NEW YORK CITY — Meridian Capital Group has arranged $17.9 million in construction financing for the development of a multifamily property located in the Jamaica neighborhood of Queens. David Hayum and Tal Savariego of Meridian secured the three-year, interest-only construction loan, provided by a regional balance sheet lender, for the Long Island-based borrower. Located at 177-30 Wexford Terrace, the ground-up development will feature 68 apartments and a community facility.

August 26, 2016

Hospitality New York Northeast

Quadram Global to Open Two Arlo Hotels in Manhattan

by Amy Works August 26, 2016

NEW YORK CITY — Quadram Global is developing two Arlo micro-hotel brand hotels in Manhattan. Both hotels were designed by Gene Kaufman Architect. Located at 231 Hudson St., the 11-story, 325-key Arlo Hudson is slated to open on September 6. The 97,000-square-foot hotel will feature a rooftop terrace with a bar/lounge, a ground-floor courtyard with lounge and Harold’s Meat +3, the latest eatery of Chef Harold Moore, executive chef and owner of Commerce Restaurant. The interiors of the Hudson Square property were designed by AvroKO, and the landscape was designed by MDD Landscape Design. Located at 11 E. 31st St., the 37-story, 250-key Arlo NoMad is scheduled to open later this fall. The 91,000-square-foot hotel will feature a roof deck, small but well-appointed guest rooms, dining and lounging options and public spaces.

August 26, 2016

Industrial Northeast Pennsylvania

VYC Tires Leases 61,157 SF of Warehouse Space in Pennsylvania

by Amy Works August 26, 2016

ALLENTOWN, PA. — VYC Tires Inc., commonly known as bestusedtires.com, has leased 61,157 square feet of warehouse space at 7072 Snowdrift Road in Allentown. The Allentown-based, family-owned company provides quality used tires to customers across the continental United States. Ethan Medgie of Markward Group represented the tenant, while landlord DCT Industrial Trust was self-represented in the transaction.

August 26, 2016

Mixed-Use Multifamily New York Northeast Retail

Silver Star Motors Tops Out 135,000 SF Mixed-Use Building in Long Island City

by Amy Works August 25, 2016

NEW YORK CITY — An affiliate of Silver Star Motors has topped out the construction of a mixed-use building located at 37-14 36th St. in Queens’ Long Island City. Designed by Montroy Andersen DeMarco, the 10-story, 135,000-square-foot building will feature a Silver Star Mercedes-Benz dealership on the first two floors and 85 apartments on the upper floors. The apartments will be a mix of 30 studios, 27 one-bedroom units, 28 two-bedroom units and two three-bedroom units. Occupancy is expected in summer 2017. The project team includes 1 Oak Contracting, MNS Real Estate, Fogarty Finger Architecture, Dealer Solutions and Design, Gilsanz Murray Steficek, Lilker Engineering, GZA GeoEnvironmental, DeRosier Engineering and Sage Security.

August 25, 2016

Loans Multifamily New Jersey Northeast

Russo Development Receives $73M in Financing for 398-Unit Multifamily Community in New Jersey

by Amy Works August 25, 2016

HARRISON, N.J. — Russo Development has received $73 million in financing for Vermella Harrison, a Class A mid-rise multifamily community located at 1100 Frank E. Rodgers Blvd. South in Harrison. HFF arranged the 10-year, fixed-rate loan through John Hancock Real Estate Finance Group for the borrower. Situated on three acres, the transit-oriented property is 800 feet from the Harrison PATH station and features 120 studio units, 260 one-bedroom and 18 two-bedroom units averaging 717 square feet. On-site amenities include a 3,500-square-foot fitness center with yoga studio; an outdoor heated swimming pool; bocce ball court; putting green; rooftop dog run; rooftop terrace with pergolas; fireplace and grilling stations; large courtyards; concierge service; and personal storage lockers on each floor. Thomas Didio of HFF led the HFF debt placement team that secured the financing.

August 25, 2016

New York Northeast Retail

Thor Equities Acquires 3,400 SF Retail Space in Soho for $12.6M

by Amy Works August 25, 2016

NEW YORK CITY — Thor Equities has acquired a retail co-op located at 125 Greene St. in Soho for $12.6 million. Featuring more than 3,400 square feet of space, the property is occupied by Kisan, a French fashion boutique. The name of the seller was not released.

August 25, 2016

Industrial New Jersey Northeast

Silbert Realty Negotiates Sale of Proposed Redevelopment Site in New Jersey

by Amy Works August 25, 2016

EAST RUTHERFORD, N.J. — Silbert Realty & Management Co. (SRM) has arranged the sale of a development site located at 401 Central Ave. in East Rutherford. A New Jersey-based real estate development group acquired the proposed 90,000-square-foot industrial/flex/office site from an undisclosed seller for an unreleased price. Situated on approximately 5 acres, the property is zoned for industrial and served by city utilities. The existing 137,000-square-foot structure features 26,000 square feet of office space, overhead doors and tail board loading. Wayne Kasbar of SRM represented both the seller and buyer in the transaction.

August 25, 2016

Delaware Industrial Northeast

Harvey, Hanna & Associates Adds Anchor Plastics to Twin Spans Business Park in Delaware

by Amy Works August 25, 2016

NEW CASTLE, DEL. — Harvey, Hanna & Associates (HHA) has added Quebec, Canada-based Anchor Plastics Ltd. to Twin Spans Business Park in New Castle. Anchor Plastics recently opened its latest North American facility by leasing 20,500 square feet of warehouse and office space at 500 Ships Landing Way in Twins Spans Business Park. Anchor Plastics is a manufacturer of plastic containers and customizable products for commercial customers. Situated on 135 acres, Twin Spans Business Park features 1.85 million square feet of Class A commercial warehouse space along the Delaware River. Jamie Vari of JLL represented Anchor Plastics in the lease transaction. HHA owns and manages the business park.

August 25, 2016

Newer Posts

Older Posts