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Crownwood-Industrial-Estates-Bristol-Pennsylvania
AcquisitionsIndustrialNortheastPennsylvania

Benchmark, Regal Ventures Acquire 218,410 SF Industrial Property in Bristol, Pennsylvania

by Taylor Williams

BRISTOL, PA. — A partnership between Pennsylvania-based developer Benchmark Real Estate and New York-based investment firm Regal Ventures has acquired a 218,410-square-foot industrial property in Bristol, located northeast of Philadelphia. Crownwood Industrial Estates comprises three buildings that range in size from 13,042 to 112,348 square feet on a 25-acre site along the I-95 corridor that can support future expansion. At closing, the partnership sold the 112,348-square-foot building to Penn Steel Fabrication, which occupied about half of that building’s space and was facing lease expiration in 2025. Michael Borski and Pat Gilmore of The Flynn Co., a Philadelphia-based brokerage firm, arranged the sale. The seller and sales price were not disclosed.

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2-King-Arthur-Court-North-Brunswick
Leasing ActivityNew JerseyNortheast

US Pharma Lab Preleases 162,657 SF Industrial Building in North Brunswick, New Jersey

by Taylor Williams

NORTH BRUNSWICK, N.J. — US Pharma Lab has preleased a 162,657-square-foot industrial building that is under construction in North Brunswick, about 40 miles southwest of Manhattan. The locally based provider of dietary supplement ingredients and products will occupy the entirety of the building at 2 King Arthur Court within the 100-acre North Brunswick Logistics Center, which is a redevelopment of the former Johnson & Johnson office campus. Delivery is slated for fall 2025. Michael Kimmel of KBC Advisors represented US Pharma Lab in the lease negotiations. Silverman Group owns North Brunswick Logistics Center.

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DevelopmentMultifamilyNew YorkNortheast

Baxter Development, Rieger Homes Complete 104-Unit Apartment Complex in Marlboro, New York

by Taylor Williams

MARLBORO, N.Y. — A partnership between Baxter Development and Rieger Homes has completed Hudson West, a 104-unit apartment complex in Marlboro, about 80 miles north of New York City. Hudson West comprises five buildings that house 84 two-bedroom units and 20 three-bedroom units. Residences range in size from 1,100 to 1,400 square feet. Amenities include a fitness center, clubroom and outdoor green space. Rents start at $2,500 per month for a two-bedroom apartment. Hudson West was 70 percent preleased at the time of completion.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Arranges Sale of 79,299 SF Grocery Store in Metro Boston

by Taylor Williams

MALDEN, MASS. — Locally based brokerage firm Atlantic Capital Partners has arranged the sale of a 79,299-square-foot Stop & Shop grocery store in the northern Boston suburb of Malden. The sales price was $26.2 million. The store is located within immediate proximity of the Malden Center MBTA station. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller in the transaction and procured the buyer. Both parties requested anonymity.

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Leasing ActivityNew YorkNortheastOffice

Flexport Signs 14,073 SF Office Lease in Manhattan’s Penn District

by Taylor Williams

NEW YORK CITY — Flexport has signed a 14,073-square-foot office lease in Manhattan’s Penn District. The freight and logistics services provider is relocating from 50 W. 23rd St. to the 11th floor of 31 Penn Plaza, an 18-story building that recently underwent a repositioning. Christine Colley, Daniel Turkewitz, Thomas Swartz and Mitch Konsker of JLL represented the landlord, Vanbarton Group, in the lease negotiations. Joseph D’Apice of CBRE represented Flexport.

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Burlington-Mall
DevelopmentMassachusettsNortheastRetail

Simon Completes 130,000 SF Redevelopment Project at Burlington Mall in Metro Boston

by Taylor Williams

BURLINGTON, MASS. — Simon Property Group has completed a 130,000-square-foot redevelopment at Burlington Mall, located on the northern outskirts of Boston. The multimillion-dollar project added an outdoor park with green space and amenities, elevated wood elements and porcelain tile finishes throughout the center, as well as new seating and signage. The park features 30,000 square feet of space dedicated to wellness, beauty and dining for concepts including Sweetgreen, Sweathouz, All Eye Care Doctors, SkinMD and Caffe Nero. Almost 50 retailers and eateries were also added to the tenant roster during the redevelopment, including Uniqlo, lululemon, Vineyard Vines, Aritzia and Marc Jacobs.

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AcquisitionsMassachusettsMultifamilyNortheast

Coldwell Banker Arranges $5.7M Sale of Multifamily Development Site in Somerville, Massachusetts

by Taylor Williams

SOMERVILLE, MASS. — Coldwell Banker Commercial Realty has arranged the $5.7 million sale of a multifamily development site at 13-17 Allen St. in Somerville, located just outside of Boston. The site spans a quarter-acre and is fully approved for the development of 40 rental units. Todd Glaskin and Gregg Leppo of Coldwell Banker represented the buyer, a local developer doing business as Somerville Allen Street LLC, in the transaction. Michael Kuritnik and Boris Kuritnik of Greenville Real Estate Group represented the seller, Kumo Capital.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $5M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $5 million sale of a 13-unit apartment building in the Hell’s Kitchen area of Manhattan. The building at 753 Ninth Ave. was originally constructed in 1920 and offers a mix of one-, two- and three-bedroom units. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction. Seven units were vacant at the time of sale, and the new ownership plans to implement a value-add program.

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Leasing ActivityNew YorkNortheastOffice

CBRE Negotiates 42,226 SF Office Lease in Pearl River, New York

by Taylor Williams

PEARL RIVER, N.Y. — CBRE has negotiated a 42,226-square-foot office lease in Pearl River, located along the New York-New Jersey border. The tenant, health and wellness company Nice-Pak Products Inc., will occupy the entire 21st floor and part of the 20th floor at 1 Blue Hill Plaza. James Tully, Jon Meisel and Brian Godau of CBRE represented the landlord, an entity doing business as Glorious Sun Blue Hill Plaza LLC, in the lease negotiations. Cushman & Wakefield represented the tenant.

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Leasing ActivityNew YorkNortheastOffice

Nayya Health Signs 29,915 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Nayya Health has signed a 29,915-square-foot office lease in Midtown Manhattan. The company will occupy the entire fourth floor and part of the 18th floor at 215 Park Avenue South for the next five years. Tim Freyberg of CBRE represented the tenant in the lease negotiations. Howard Tenenbaum and Gary Rosen represented the landlord, SL Green, on an internal basis. The deal brings the 20-story, 338,636-square-foot building to 92 percent occupancy.

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