Friday, July 3, 2026
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Northeast

NortheastRetail

VORNADO SELLS RETAIL PROPERTIES FOR $263M

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PHILADELPHIA AND SAN JOSE, CALIF. — In two separate transactions, Vornado Realty Trust (NSYE: VNO) has completed the sale of two retail properties for a combined total of $263 million. A retail property in Philadelphia, that is part of the Gallery at Market East, sold for $60 million. The Plant, a shopping center in San Jose, Calif., sold for $203 million. The sales resulted in net proceeds of approximately $156 million, after repaying the mortgage on the San Jose property and closing costs. The Gallery at Market East is a mall located at 901 Market St. in downtown Philadelphia with more than 130 stores. The Plant is located at the intersection of Monterey Highway and Curtner Avenue and spans 643,325 square feet. Tenants at The Plant include Applebee’s Best Buy, Chase, Home Depot, OfficeMax, PetSmart and Target. A net gain of $69 million will be recognized in the second quarter.

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NortheastOffice

NORTHMARQ CAPITAL ARRANGES $10M REFINANCING

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TROY, N.Y. — NorthMarq Capital has arranged a $10 million first mortgage loan for the refinancing of a four-building portfolio in Troy, a northern suburb of Albany. The portfolio includes three office buildings: The Market Block, located at 282 River St.; and the Atrium and Frear buildings, located at Third and Fourth streets. The fourth property is the 985-car Uncle Sam Parking Garage, located at 35 4th St. Financing was based on a seven-year term and a 15-year amortization schedule. The borrowers include Bryce Properties LLC, Hudson River Place LLC and Uncle Sam Garages LLC. A local credit union provided the loan.

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NortheastOffice

HEALTHCARE SOLUTIONS SIGNS 57,055 SF LEASE

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NORRISTOWN, PA. — Healthcare Solutions Inc., the parent company of Cypress Care, ScripNet and Procura Management, has signed a 57,055-square-foot lease to relocate the company’s regional headquarters to 2500 Monroe Blvd. in Norristown, a northwest suburb of Philadelphia. Mike Barker of CBRE Group Inc. represented Healthcare Solutions in the transaction. Healthcare Solutions provides an array of medical management services in the workers’ compensation and auto industry.

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NortheastRetail

PHILADELPHIA-AREA SHOPPING CENTER SELLS FOR $9.3M

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LANSDALE, PA. — A Philadelphia-area developer and property owner has sold Allen Forge Shopping Center, a 51,878-square-foot shopping center in Lansdale, for $9.3 million, or $187 per square foot. The center is located at 850 S. Valley Forge Road, approximately 28 miles northwest of Philadelphia. Tenants at the shopping center include a 13,000-square-foot CVS/pharmacy drugstore with a drive-thru, a 9,000-square-foot wine and spirits retail outlet and a Bank of America branch. Matthew Gorman and Michael Shover of Marcus & Millichap represented the seller in the transaction. Gorman and Shover also represented the buyer, a Lehigh Valley-based 1031 tax-deferred exchange investor.

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MultifamilyNortheast

CENTERLINE CAPITAL PROVIDES $6M REFINANCING LOAN

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FORT LEE, N.J. — Centerline Capital Group has provided a $6 million Fannie Mae DUS mortgage loan to refinance 2339 Hudson Terrace, a cooperative multifamily property located in Fort Lee, about 22 miles north of Union City. The loan proceeds will be used to pay off an existing Fannie Mae first mortgage loan and to fund an ongoing capital improvement program, which includes roof replacements and additions to common area amenities. The 10-year loan includes a 30-year amortization schedule. The borrower is 2339 Hudson Terrace Corp. Built in 1951, the multifamily property includes 223 apartment units housed in three, six-story buildings. Foremost Management Corp. manages the property. Fannie Mae’s multifamily mortgage business provides financing options for properties in which the residents collectively own the building(s) and property through their shares in the cooperative corporation.

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Mixed-UseNortheast

EAGLEBRIDGE CAPITAL ARRANGES $2.4M MORTGAGE LOAN

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PROVIDENCE, R.I. — EagleBridge Capital has arranged a $2.4 million loan for the construction and mortgage financing of 70 Ken-West, located at 70 Kennedy Plaza in downtown Providence. 70 Ken-West is a recently renovated six-story retail and multifamily building. CVS/pharmacy leases the ground floor and basement. The upper five stories of the property will include 17 apartments, 10 of which are completed. Ted Sidel and Brian Sheehan of EagleBridge arranged the mortgage financing. A Massachusetts-based financial institution provided the loan.

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NortheastRetail

RED DOOR SPA TO OPEN 10,000 SF STORE IN UNION SQUARE

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NEW YORK CITY — Elizabeth Arden Inc. has signed a 10,000-square-foot lease at 200 Park Ave. in Union Square for its Red Door Spa. It will be the third spa in Manhattan for the beauty company, which has its corporate headquarters on the seventh floor of the same New York City Park Avenue building. The retail store and spa will occupy two levels, including 2,500 square feet on the ground floor and 7,500 square feet on the lower level. The property will also include an elevator visible from the street. Gregg Schenker, Mark Tergesen and John Gols of ABS Partners Real Estate LLC and Gary Trock of CBRE represented the landlord, 200 Park South Associates LLC, in the transaction. Joseph Cabrera, Edward Weiss, Michael Gordon and Robert Gibson of Cushman & Wakefield represented Elizabeth Arden.

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MultifamilyNortheast

NORTHMARQ ARRANGES $33.38M IN MULTIFAMILY LOANS

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HUDSON COUNTY, N.J. — NorthMarq’s North New Jersey regional office has arranged $33.8 million in first mortgage refinancing for three affordable housing properties in Hudson County. Eastview Apartments, a 79-unit apartment community located at 58-72 Washington St. in Hoboken, received $15.6 million. New Floral Gardens 1A, a 91-unit property located at 2515-2517 Cottage Ave. in North Bergen, received $8.9 million. Park View East Apartments, a 71-unit apartment community located at 4300 Park Ave. in Weehawken, received $8.8 million. Financing for the transactions was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing through a local bank.

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NortheastOffice

MACK-CALI SELLS 19 SKYLINE DRIVE FOR $17.5M

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HAWTHORNE, N.Y. — Mack-Cali Realty Corp. has sold 19 Skyline Drive in Hawthorne for $17.5 million. The vacant five-story, 248,400-square-foot building was sold to New York Medical College, a member of the Touro College and University System. “The sale of this property continues our strategy of recycling our capital out of non-core office assets to fuel our diversification into multifamily,” says Mitchell Hersh, president and CEO of Mack-Cali.

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