FAIRFIELD, N.J. — Locally based investment firm The STRO Cos. has acquired a 76,560-square-foot industrial building in the Northern New Jersey community of Fairfield. The building, which was fully leased at the time of sale, houses small-bay units that range in size from 8,000 to 13,000 square feet and feature clear heights of 22 feet. Howard Weinberg of JLL represented the undisclosed seller in the transaction.
NEW YORK CITY — National discount retailer Burlington has signed a retail lease renewal at Glen Oaks Shopping Center in Queens. The square footage was not disclosed. Burlington has been a tenant at the 187,650-square-foot center since 2003 and plans to upgrade its space. Ken Bryan internally represented Burlington in the lease negotiations. Randall Briskin represented the landlord, The Feil Organization, also on an internal basis.
LAVAL, QUEBEC AND CRANBERRY TOWNSHIP, PA. — Alimentation Couche-Tard Inc., the Canadian parent company of Circle K, has agreed to acquire GetGo Café + Markets from Giant Eagle Inc., a supermarket chain based in Pennsylvania. GetGo operates 270 gas station and convenience store locations in Pennsylvania, Ohio, West Virginia, Maryland and Indiana. The company staffs approximately 3,500 employees. “We are excited to welcome GetGo into the Couche-Tard family,” says Brian Hannasch, president and CEO of Couche-Tard. “We look forward to growing together as we learn from and continue GetGo’s innovative approaches to serving its local customers and communities.” “We are energized by the potential for both Giant Eagle and GetGo as a result of this transaction,” adds Bill Artman, CEO of Giant Eagle. “This enhances our focus on our core supermarket and pharmacy businesses.” GetGo has multiple retail models, including open-concept stores and standalone kiosks, with an emphasis on “food first.” As part of this transaction, Couche-Tard and Giant Eagle have agreed to maintain and partner together on Giant Eagle’s myPerks loyalty program for customers. Couche-Tard expects the deal to close in 2025 following standard regulatory approvals and customary closing conditions. The financial terms of the transaction were not disclosed …
NEW YORK CITY — Walker & Dunlop has arranged the $1.2 billion refinancing of One High Line, a 750,000-square-foot mixed-use property in Manhattan’s West Chelsea neighborhood. One High Line consists of two towers and a five-story commercial building that span an entire city block. The property houses 236 condos with 18,000 square feet of residential amenity space, a 120-room Faena hotel that is scheduled to open next year, 45,000 square feet of boutique office space and 13,000 square feet of retail and restaurant space. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella, Michael Diaz, Jackson Irwin and William Herrin of Walker & Dunlop arranged the debt on behalf of the borrower, a partnership between The Witkoff Group, Access Industries and Monroe Capital. J.P. Morgan provided the senior loan within the financing package, and TYKO Capital provided mezzanine debt.
LITTLE FERRY, N.J. — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $75 million bridge loan for a 294-unit multifamily project that is nearing completion in the Northern New Jersey community of Little Ferry. The property at 110 Bergen Turnpike includes 8,356 square feet of retail space and is expected to receive its temporary certificate of occupancy during the current quarter. The borrower is Capodagli Property Co., a New Jersey-based family-owned development firm. Proceeds from the 18-month loan, which also carries two six-month extension options, will be used retire the existing $71 million construction loan (also provided by SCALE) and to complete lease-up of the project.
SOMERSWORTH, N.H. — A partnership between developers Tidemark and BOD Holdings has broken ground on a 135-unit multifamily project in Somersworth, located on the Maine-New Hampshire border. Designed by New Hampshire-based PROCON, the complex will be located in the downtown area and will offer studio, one-, two- and three-bedroom units and amenities such as a fitness center, package room, leasing office and onsite parking. Completion is slated for spring 2026.
MELVILLE, N.Y. — Colliers has brokered the $20 million sale of a 91,428-square-foot warehouse in the Long Island community of Melville. The building sits on a 10-acre site at 135 Baylis Road and features a clear height of 16 feet. Robert Steinhart, Richard Warshauer, Jason Maietta, Tommy Rosati and Brandon Lichtenstein of Colliers represented the seller, Melville Beverage Partners, in the transaction. Local appliance wholesaler Kings Prime Equities LLC purchased the building with plans to occupy the space.
NORWALK, CONN. — Wegmans Food Markets will open a 92,000-square-foot store at 675 Connecticut Ave. in Norwalk, located in southern coastal Connecticut. The regional grocer expects to employ about 500 people at the store at full operation. The location will be the first in Connecticut for Wegmans, which operates a total of 111 stores along the East Coast, and is scheduled to open next summer.
WALLKILL, N.Y. — JLL has negotiated the sale of a 92-acre industrial development site in Wallkill, about 75 miles north of New York City. The site at 350 Silverlake-Scotchtown Road is known locally as Golden Triangle and is fully approved for the development of roughly 835,000 square feet of product. Crow Holdings Development acquired the site with a two-phase plan to construct a facility that will be known as Golden Triangle Logistics Center. Phase I will total 535,603 square feet and feature a clear height of 36 feet, 88 dock doors and parking for 83 trailers and 422 trailers. Phase II will comprise 299,200 square feet and could include 38 dock doors and parking for 199 cars and 34 trailers. Rob Kossar and James Panczykowski of JLL represented the seller, New Jersey-based Vision Real Estate Partners, in the land deal. JLL has also been retained to lease the project, construction of which is slated to begin in the third quarter.
HAMILTON, N.J. — A partnership between New Jersey-based Saxum Real Estate and Meadow Partners, an investment firm with offices in New York and London, has purchased an 80,420-square-foot industrial flex building in Hamilton, located just outside of Trenton. The site at 1 Electronics Drive spans 16 acres, including land for future expansion. The building, which according to LoopNet Inc. was constructed in 1972 and renovated in 2000, includes 530 parking spaces and was 73 percent leased at the time of sale to three tenants. JLL represented the seller, BTR Capital Group, in the transaction and arranged the joint venture equity and acquisition financing for the deal. Zimmel Associates has been tapped as the leasing agent.