WALLINGTON, N.J. — Inserra Supermarkets is opening ShopRite of Wallington within Wallington Plaza Shopping Center in Wallington. Located at 375 Paterson Ave., the 60,000-square-foot supermarket will feature ShopRite from Home (online ordering with home delivery), free nutrition and wellness programming, full-service catering, a pharmacy and a liquor store. The store is slated to open in May.
NEW YORK CITY — RKF has brokered the sale of a 19,008-square-foot commercial condominium located at 100 West 93rd St. on the Upper West Side in New York City. Coltown Properties acquired the property for $16.5 million and subsequently leased the property to Manhattan Children’s Center, a school that provides scientifically based treatment and education to children with autism spectrum disorders. The two-story asset features 13,834 square feet on the ground floor and 5,174 square feet on the second floor. David Abrams and Marc Finkel of RKF represented the buyer, while Michael Dubin of Savvit Partners represented the seller, Starrett Development. Additionally, Abrams and Finkel represented both parties in the lease transaction.
NEWBURGH AND HYDE PARK, N.Y. — HFF has closed the sale of a two-property Ace Self-Storage portfolio totaling 630 units and 95,878 square feet in Upstate New York. Real Estate Technology sold the assets to World Class Capital Group LLC for an undisclosed price. The portfolio comprises a 388-unit property located at 735 and 765 South St. in Newburgh and a 241-unit facility at 1594 Route 9G in Hyde Park. The buyer plans to add additional units to both facilities, which include climate- and non-climate-controlled units and on-site management. Barbara Guffey led the HFF team that represented the seller in the transaction.
NEW YORK CITY — Admiral Capital Group and Four Winds Real Estate have acquired a three-building mixed-use portfolio in downtown Manhattan for an undisclosed price. The portfolio features 61 residential units and four commercial units at 106 Ridge St., 118 Ridge St. and 110 Ridge St. The acquisition is Admiral’s first investment in New York City, and it expands Four Winds’ existing multifamily portfolio on the Lower East Side. The seller was a private investor group that owned the properties for more than 30 years. Jarett Kaplus of Admiral and David Schneiderman and Joshua Landau of Four Winds led the transaction teams. The sale was brokered by Eastern Consolidated.
NEW YORK CITY — GFI Realty Services has brokered the sale of a multifamily property located at 15-21 Crooke Ave. in Brooklyn’s Prospect Park South district. A local investor acquired the property for $14.2 million, or $264,000 per unit, in an off-market transaction from an undisclosed buyer. The six-story elevator building features 54 residential units. Erik Yankelovich of GFI Realty represented the buyer in the transaction.
NORTH HAVEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a professional/medical building located at 100 Broadway in North Haven. 100 Broadway North Haven LLC purchased the 11,000-square-foot property for $1 million from Bass Inc. Stephen Press of Press/Cuozzo represented the buyer, while Susan Criscuolo, also of Press/Cuozzo, represented the seller in the transaction.
HANOVER, N.J. — A joint venture between Vision Real Estate Partners and Rubenstein Partners has broken ground for the construction of a global headquarters for MetLife Investments in Hanover. Situated on 14 acres within 67 Whippany Road’s South Campus component, the 185,000-square-foot property will feature an open floor plan with collaborative workspaces and breakout rooms, a town hall with technologically advanced conference facilities, a fitness center, employee food court with indoor and outdoor seating, and a café. Additionally, the property will offer 4.5 parking spaces per 1,000 feet of rentable area. The property is also designed to achieve LEED Gold Core and Shell and LEED Platinum Interiors certifications. Bruce Mosler, Ethan Silverstein, David Susoreny, Bill Brown and Andrew Merin of Cushman & Wakefield represented MetLife in the transaction. Robert Donnelly and Robert Donnelly Jr., also of Cushman & Wakefield, represented the property ownership in the lease transaction.
NEWTOWN, WARMINSTER AND NORTH WALES, PA. — HFF has brokered the sale of a three-property self-storage portfolio, totaling 191,000 rentable square feet, in suburban Philadelphia. A partnership between Metro Shelf Storage and LaSalle Investment Management purchased the assets for $29.2 million, or $153 per rentable square foot, from PFG Capital LP. The portfolio includes the 25,568-square-foot Newtown Storage in Newtown; the 89,210-square-foot StorageWORKs! Warminster in Warminster; and the 75,120-square-foot StorageWORKs! North Wales in North Wales. Richard Schontz, Barbara Guffey and Matthew Weckesser of HFF represented the seller in the transaction.
WEST CHESTER, PA. — Rittenhouse Capital Advisors has provided $8.2 million in long-term, fixed-rate financing for The Chestnut Street Lofts in West Chester. The loan features an 80 percent loan-to-value, a 10-year 3.95 percent fixed rate and a 30-year amortization schedule. The borrower is StanAb LP, the project’s developer. Constructed in 2014, the 60-unit property features open floor plans, modern kitchens and bathrooms, and outdoor balconies. On-site community amenities include a community room, fitness center and on-site parking.
NEW YORK CITY — Colliers International has acquired Madison, Conn.-based Strategic Building Solutions (SBS), a project management firm. The company, which will rebrand to Colliers International, expands Colliers’ project management expertise in the Northeast and provides national best-in-class energy sustainability management, commissioning and retro-commissioning services. SBS currently manages $1 billion worth of projects and 10 million gross square feet of LEED-registered space within its commissioning and energy services group. The integration of SBS will add 70 multi-disciplined professionals to the Colliers team.
