SOUDERTON, PA. — A partnership between regional developer Endurance Real Estate Group and Greystar-Thackeray has broken ground on a 176,000-square-foot industrial project in Souderton, located roughly midway between Philadelphia and Allentown in the Lehigh Valley. The building at 205 Schoolhouse Road will be known as 205 Commerce Center and will feature a clear height of 36 feet, 27 overhead dock doors, parking for 180 cars and 31 trailers and an ESFR sprinkler system. Completion is slated for the fourth quarter. JLL is marketing the property for lease.
EDISON, N.J. — JLL has arranged a loan of an undisclosed amount for the refinancing of a portfolio of two industrial buildings totaling 113,211 square feet in the Central New Jersey community of Edison. The portfolio, which was fully leased at the time of the loan closing, comprises a 53,950-square-foot building that was constructed in 1982 and a 59,261-square-foot building that was completed in 1988. Michael Klein and Max Custer of JLL arranged the 11-year, fixed-rate loan on behalf of the borrower, Summit Associates Inc. The direct lender was not disclosed.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $15.6 million sale of a quartet of contiguous multifamily buildings in Brooklyn’s Prospect Heights neighborhood. The buildings are located at 315-329 Lincoln Place and comprise 48 units that were recently renovated. Victor Sozio, Sean Kelly, Remi Mandell and Jake Brody of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
LIVINGSTON, N.J. — McGivney Kluger Clark & Intoccia PC has signed a 13,558-square-foot office lease in the Northern New Jersey community of Livingston. The law firm is taking space at The Eisenhauer, a Class A campus located at 290 W. Mount Pleasant Ave. Jon Meisel, Erin Wenzler and Dan Casey of CBRE represented the landlord, Eastman Cos., in the lease negotiations. Fred Hyatt and Ignatius Armenia of JLL represented the tenant.
NEW YORK CITY — Slate Property Group and White Oak Real Estate Capital have provided a $70 million construction loan for a multifamily project in the Long Island City area of Queens. The building at 41-08 Crescent St. will rise 26 stories and house 184 units, 70 percent of which will be subject to income restrictions. In addition, the building will offer 9,000 square feet of retail space and a 41-space parking area. Skyline Capital arranged the 20-year, floating-rate loan on behalf of the developer, Watermark Capital Group. Construction is roughly midway complete and scheduled for a spring 2026 completion.
ANDOVER, MASS. — Locally based investment firm The Davis Cos. has acquired a 308,970-square-foot office and life sciences facility in Andover, a northern suburb of Boston. The building at 100 Minuteman Drive houses the headquarters of both dental products provider Straumann Manufacturing Inc. and law firm Zwicker & Associates. Building amenities include an interior courtyard, fitness center and an onsite café. Newmark represented the undisclosed seller in the transaction.
BEDMINSTER, N.J. — JLL has brokered the sale of The Hills Village Center, a 110,453-square-foot shopping center in Bedminster, about 40 miles west of Manhattan. Kings Food Market anchors the center, which was built on 13 acres in 1988 and is also home to tenants such as CVS, Cold Stone Creamery, PNC Bank, Starbucks, Great Clips and Orangetheory Fitness. Jose Cruz, Kevin O’Hearn and J.B. Bruno of JLL represented the undisclosed seller in the transaction and procured the buyer, Boston-based Longpoint Partners.
NEEDHAM, MASS. — A partnership between regional owner-operator Wingate Living and WL Development has broken ground on a 69-unit seniors housing project in Needham, a western suburb of Boston. One Wingate Way East will offer one- and two-bedroom units and amenities such as a pickleball court, rooftop lounge and grille, a golf simulator, art workshop, yoga and spin studios, library and a bistro bar with personal wine lockers. The property is 75 percent preleased and is slated for a spring 2026 completion.
NEW YORK CITY — Ariel Property Advisors has arranged a $10.2 million acquisition loan for a four-unit apartment building in Manhattan’s Flatiron District. The address of the 8,900-square-foot building was not disclosed. Ben Schlegel and Paul McCormick of Ariel Property Advisors arranged the nonrecourse loan, which was structured with an interest rate that is equivalent to 5.5 percent above the 30-day average SOFR rate and a 75 percent loan-to-cost ratio. The borrower and direct lender were also not disclosed.
NEW YORK CITY — JLL has arranged the $290 million recapitalization of 505 State Street, a 440-unit apartment building located in downtown Brooklyn. Completed earlier this year, the building offers one-, two- and three-bedroom apartments with an average size of 659 square feet, as well as 28,752 square feet of retail space. Amenities include a fitness center, yoga studio, rooftop pool, communal lounges, a screening room and dedicated workspaces. Details on any changes in the equity component of the capital stack were not disclosed, but the transaction did include the origination of a five-year, fixed-rate senior loan through insurance giant New York Life. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL arranged the loan on behalf of the borrower, Alloy Development.